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SXC Health Solutions Unveils a New Name Following Merger: Catamaran

Following the recent completion of its merger with Catalyst Health Solutions, Inc, SXC Health Solutions Corp unveiled a new name and brand for the company: Catamaran.

Following the recent completion of its merger with Catalyst Health Solutions, Inc, SXC Health Solutions Corp unveiled a new name and brand for the company, as well as formally announced its leadership team. The new name, Catamaran, reflects the union of two of the industry's fastest-growing pharmacy benefits management companies to create the fourth largest PBM in the United States by prescription volume.

Beginning tomorrow, the company's shares will be traded under the ticker CTRX on the NASDAQ and as CCT on the Toronto Stock Exchange.

The company selected the name Catamaran to reflect its nimble, flexible approach to helping clients navigate today's turbulent healthcare environment to contain costs and enhance the well-being of its members. Catamaran's clients include the broadest, most diverse base of any PBM, comprising large employers, health plans, government entities, unions, workers' compensation, TPAs, long term care, hospice and PBMs.

"Catamaran is the most viable alternative for organizations who are struggling to solve the healthcare cost challenge, and we're eager to put our enhanced resources to work for them," said

Mark Thierer

, Chairman and CEO of Catamaran. "We have the skill and scale to deliver compelling financial results and the clinical intelligence to deliver sustainable improvements in the health of members."

The new Catamaran has substantial resources to apply to the market's challenges. The merged company will have estimated annual revenues of

$13 billion

, placing it among the top 250 companies in the United States and among the top 15 companies in the Chicagoland area, where it is headquartered. Catamaran will serve approximately 25 million members and will have an annual volume of more than 200 million adjusted pharmacy benefits management prescriptions.

Catamaran also formally announced its new leadership team, which leverages talents from both SXC and Catalyst.

will lead the firm as chairman and CEO, and

will serve as executive vice president and CFO. Former Catalyst president and chief operating officer

will serve as executive vice president, market segments. In addition, former Catalyst board member

Steven B. Epstein

will join the new Catamaran board.

David Blair

, former chairman and CEO of Catalyst, has committed to provide ongoing support to the combined company to ensure a seamless and successful integration.

Catamaran is headquartered in

Lisle, Illinois

, with multiple locations in

the United States

About Catamar an

Catamaran, the industry's fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 200 million prescriptions each year on behalf of 25 million members, our flexible, holistic solutions improve patient care and empower individuals to take charge of their health. Processing one in every five prescription claims in the U.S., Catamaran's skill and scale deliver compelling financial results and sustainable improvement in the overall health of members. Catamaran is headquartered in

Lisle, Ill.

with multiple locations in the U.S. and

. For more information, please visit www.catamaranRx.com .

SOURCE: SXC Health Solutions Corp .

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SXC, Catalyst name merged company Catamaran

Now merged, pharmacy benefit managers (PBMs) SXC Health Solutions Corp. and Catalyst Health Solutions Inc. unveiled a new name and brand for the company: Catamaran.

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LISLE, Ill. — Now merged, pharmacy benefit managers (PBMs) SXC Health Solutions Corp. and Catalyst Health Solutions Inc. unveiled a new name and brand for the company: Catamaran.

The company said that starting Wednesday, its shares will be traded under the ticker CTRX on the NASDAQ stock exchange and as CCT on the Toronto Stock Exchange.

Catamaran, the nation’s fourth-largest PBM by prescription volume, also formally announced its leadership team with the completion of the $4.4 billion SXC-Catalyst merger .

Mark Thierer serves as chairman and chief executive officer, holding the same posts as he did at SXC, and Jeff Park becomes executive vice president and chief financial officer at Catamaran. Former Catalyst president and chief operating officer Rick Bates will serve as executive vice president of arket segments, and former Catalyst board member Steven Epstein joins the new Catamaran board.

David Blair, former chairman and CEO of Catalyst, "has committed to provide ongoing support to the combined company to ensure a seamless and successful integration," according to Catamaran.

Based in Lisle, Ill., where SXC had its headquarters, Catamaran will have estimated annual revenue of $13 billion, placing it among the top 250 U.S. companies and among the top 15 companies in the Chicagoland area. The new company will serve about 25 million members and have an annual volume of more than 200 million adjusted PBM prescriptions.

"Catamaran is the most viable alternative for organizations who are struggling to solve the health care cost challenge, and we’re eager to put our enhanced resources to work for them," Thierer said in a statement. "We have the skill and scale to deliver compelling financial results and the clinical intelligence to deliver sustainable improvements in the health of members."

Catamaran added that its diverse base of clients includes large employers, health plans, government entities, unions, workers’ compensation, TPAs, long-term care, hospice and PBMs.

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UnitedHealth to buy pharmacy benefit firm Catamaran for $12.8 billion

By Sneha Banerjee (Reuters) - Health insurer UnitedHealth Group Inc agreed to buy Catamaran Corp in a deal worth about $12.8 billion to boost its pharmacy benefit business as it competes with bigger rivals such as Express Scripts Holdings Co . Pharmacy benefit managers (PBM) administer drug benefits for employers and health plans and run large mail order pharmacies, helping them get better prices from drugmakers. As employers look to cut prescription costs on expensive drugs, the deal with Catamaran will give UnitedHealth's pharmacy benefits unit, OptumRx, the scale to negotiate favorable prices from pharmacy companies. U.S. drug prices rose 12 percent in 2014 due to a new treatment for hepatitis C that cost more than $80,000 but cured almost all recipients with few side effects. Another new class of drugs, to treat high cholesterol, is expected to hit the market in 2015 and has insurers worried about drug costs this year as well. The purchase of Catamaran will increase UnitedHealth's market share to 15 percent to 20 percent of the people who receive their drug benefits through pharmacy benefit managers, BMO Capital Markets analyst Jennifer Lynch said in a research note. With a combined 1 billion scripts annually, UnitedHealth will be about the same size as current industry number two, CVS Health Corp , she added. Catamaran was formed after SXC Health Solutions and PBM Catalyst Health Solutions merged in 2012. UnitedHealth's offer of $61.50 per share represents a premium of 27 percent to Catamaran's Friday close on the Nasdaq. Catamaran's stock was trading at $60.01 premarket on Monday, while UnitedHealth was up nearly 4 percent. The deal "makes sense to us, but admittedly came much earlier than we expected," Jefferies analyst Brian Tanquilut said in a research note. "We had always viewed Catamaran as a compelling asset for companies looking for scale in the PBM sector such as Optum or Walgreens but expected Catamaran to grow the business much further before pursuing a sale." He added that the offer seemed adequate and he did not expect competing bids at this point. The deal value is based on Illinois-based Catamaran's total diluted shares outstanding as of Dec. 31. The transaction is expected to close in the fourth quarter of 2015 and add about 30 cents per share to UnitedHealth's profit in 2016, the companies said. Catamaran Chief Executive Officer Mark Thierer will be CEO of OptumRx and OptumRx CEO Timothy Wicks will become president. (Additional reporting by Caroline Humer in New York; Editing by Savio D'Souza, Saumyadeb Chakrabarty and Meredith Mazzilli)

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Unitedhealth to buy pharmacy benefit firm catamaran for $12.8 billion.

By Sneha Banerjee

(Reuters) - Health insurer UnitedHealth Group Inc (UNH.N) agreed to buy Catamaran Corp (CTRX.O)(CCT.TO) in a deal worth about $12.8 billion to boost its pharmacy benefit business as it competes with bigger rivals such as Express Scripts Holdings Co (ESRX.O).

Pharmacy benefit managers (PBM) administer drug benefits for employers and health plans and run large mail order pharmacies, helping them get better prices from drugmakers.

As employers look to cut prescription costs on expensive drugs, the deal with Catamaran will give UnitedHealth's pharmacy benefits unit, OptumRx, the scale to negotiate favorable prices from pharmacy companies.

U.S. drug prices rose 12 percent in 2014 due to a new treatment for hepatitis C that cost more than $80,000 but cured almost all recipients with few side effects. Another new class of drugs, to treat high cholesterol, is expected to hit the market in 2015 and has insurers worried about drug costs this year as well.

The purchase of Catamaran will increase UnitedHealth's market share to 15 percent to 20 percent of the people who receive their drug benefits through pharmacy benefit managers, BMO Capital Markets analyst Jennifer Lynch said in a research note.

With a combined 1 billion scripts annually, UnitedHealth will be about the same size as current industry number two, CVS Health Corp (CVS.N), she added.

Catamaran was formed after SXC Health Solutions and PBM Catalyst Health Solutions merged in 2012.

UnitedHealth's offer of $61.50 per share represents a premium of 27 percent to Catamaran's Friday close on the Nasdaq.

Catamaran's stock was trading at $60.01 premarket on Monday, while UnitedHealth was up nearly 4 percent.

The deal "makes sense to us, but admittedly came much earlier than we expected," Jefferies analyst Brian Tanquilut said in a research note.

"We had always viewed Catamaran as a compelling asset for companies looking for scale in the PBM sector such as Optum or Walgreens but expected Catamaran to grow the business much further before pursuing a sale."

He added that the offer seemed adequate and he did not expect competing bids at this point.

The deal value is based on Illinois-based Catamaran's total diluted shares outstanding as of Dec. 31.

The transaction is expected to close in the fourth quarter of 2015 and add about 30 cents per share to UnitedHealth's profit in 2016, the companies said.

Catamaran Chief Executive Officer Mark Thierer will be CEO of OptumRx and OptumRx CEO Timothy Wicks will become president.

(Additional reporting by Caroline Humer in New York; Editing by Savio D'Souza, Saumyadeb Chakrabarty and Meredith Mazzilli)

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SXC Health Solutions changes name to Catamaran

Pharmacy benefits manager sxc health announces name change to catamaran.

LISLE, Ill. (AP) -- SXC Health Solutions is changing its name to Catamaran following its more than $4 billion purchase of fellow pharmacy benefits manager Catalyst Health Solutions Inc.

The Lisle, Ill., company closed its acquisition earlier this month and said Tuesday its shares will start trading under the ticker symbol "CTRX" on Wednesday on the Nasdaq stock market.

A catamaran is a racing sailboat with two parallel hulls. The pharmacy benefits manager said it picked the new name to reflect its "nimble, flexible approach" to helping customers.

Pharmacy benefits managers, or PBMs, run prescription drug plans for employers, government agencies and other clients, using their large purchasing power to negotiate lower drug prices. They make money by reducing costs for health plan sponsors and members.

The companies announced their combination in April, and SXC Health said then that it would pay $28 in cash and a portion of its stock valued at $53.02 per share for each share of Catalyst. That equaled a purchase price of $81.02 per share, a premium of about 28 percent over Catalyst's closing share price before the deal was announced.

Shares of SXC fell nearly 2 percent, or $1.84, to $93.14, in Tuesday afternoon trading, while the Nasdaq exchange dropped about 1 percent.

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UnitedHealth-Catamaran deal sets up healthcare M&A chessboard

• Aetna , Cigna , CVS Caremark , Express Scripts , Humana , UnitedHealth Group
• Mar 30, 2015

(Reuters) — UnitedHealth Group Inc.’s planned takeover of No. 4 U.S. pharmacy benefits provider Catamaran Corp. will give the companies added heft in price talks with drug companies, serving as a catalyst for deals allowing other insurers to bulk up.

The $12.8 billion deal comes at a time when Wall Street has been parsing the possibilities that top insurers like Aetna Inc. with Cigna Corp. could pair up. Smaller companies like Health Net Inc., Molina Healthcare Inc. or WellCare Health Plans Inc. are also increasingly seen as takeover targets.

“There has been chatter about large-scale M&A coming out of some recent investor conferences,” Mizuho Securities senior healthcare analyst Sheryl Skolnick said. “I don’t know if $12.8 billion qualifies as large scale M&A in the space, but now you have the answer. Yes, there will be transactions.”

Express Scripts Holdings Corp., the largest pharmacy benefit manager and the only stand-alone PBM, may be pressed to do a deal with a distribution company or pharmacy if margins become too tight, analysts said on Monday.

The link-up could force a tie-up between Express Scripts and Walgreens Boots Alliance, for instance, which has pharmacy and drug distribution operations but no pharmacy management business, Evercore ISI analyst Michael Cherny said in a research report.

That could put it at a disadvantage to CVS Health, the No. 2 pharmacy benefit manager which also owns one of the nation’s largest pharmacy chains. Meanwhile, Envision RX, a small pharmacy benefit manager, recently announced plans to be bought by national drug store chain Rite Aid.

Healthcare companies are able to use scale to negotiate better prices. Late last year, for instance, Express Scripts was able to negotiate a steep discount for an important hepatitis C drug from AbbVie Inc., and has said it will use its size to extract discounts for cancer drugs and cholesterol drugs in the future.

A spokesman for Express Scripts, whose shares were up 3.7% to $85.39 in mid-afternoon trading, declined to comment on the Catamaran deal but said its business model was differentiated and in demand.

Impacting insurers

The shifting competitive landscape could mean more changes for Humana Inc., which manages pharmacy benefits for Medicare, Skolnick said. Humana had been reviewing the possible sale of that business, but ultimately decided to keep it.

The purchase will make Humana the fourth largest pharmacy benefit manager, and it could make sense for Humana to invest in that business, grow the commercial pharmacy business and add more covered customers, she said.

Other insurers will be reviewing where they stand now against UnitedHealth. Anthem, Aetna and Cigna have inked deals in recent years where they turned to Express Scripts, CVS and Catamaran respectively to manage their pharmacy benefits and get better prices, Leerink Partners analyst Ana Gupte explained.

“In some ways the deal could catalyze more consolidation,” Ms. Gupte said, adding that insurers would face pressure to bulk up. “Clearly scale is an advantage more than ever in this business,” Gupte said.

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Catamaran Sales

Saint Petersburg, Florida - USA

The Catamaran company is the world's largest retailer of new and used catamarans in the world. This includes being the largest Dealer for Lagoon Catamarans, the world's largest manufacturer of catamarans. Lagoon has over 85 dealers in every major market and country in the world and The Catamaran company has been their # 1 dealer more times than any other dealer. In fact, over the last decade The Catamaran company has sold more new Lagoons than every other Lagoon dealer in the US combined! The Catamaran company is also the World # 1 dealer for Gemini Catamarans, the largest US manufacturer of catamarans with over 1,200 sailing throughout the world.

Call Us Today 1 (844) 410-SAIL (7245)

Provisioned Charters for Discriminating Guests

Tell Us Where You Want To Go – We Will Plan The Rest.

Sailing Yacht Charters

Celebrate life with a journey on the water. We help you find a boat & Captain to fit your budget and needs. Plan a getaway.

Yacht Sales

We are licensed and bonded Yacht brokers specializing in the in catamarans by Bali. While our home port is Florida our boats travel From Florida to New England and Back each year to offer qualified buyers the “try before you buy” experience through a variety of charter programs

Captain Services

Buying or selling a boat? Let us help you coordinate your sea trial, survey, and delivery. Tell us what you need. We are here to help. 

About Sailicity Yacht Sales & Charter

Let your journey begin with Sailicity with all-inclusive sailing experiences. We foster the spirit of sailing and craft personalized and unique voyages tailored to discriminating guests. Tell us where you want to go, and we will plan the rest. We partner with an array of dynamic fleets designed to combine luxury lifestyle and the travel freedom of a memorable sailing experience. We have the privilege to provide guests with alternative social gatherings by hosting socially distant events on the sea, making all feel safe and exclusive.

Our Charter Concierge will craft private charters from half-day, weekend, or up to 14-day voyages. We have multiple types of charters; that sail anywhere in Florida along the Atlantic coast in the spring and fall with our Summer base in New England and our Winter Home in the Caribbean. Sailicity’s concierge service removes the headaches of planning and will take care of all the small details with industry-leading experts.

Our mission is to provide you the sailing experience of your dream. Make an appointment to speak to a Charter Concierge at no cost.

Contact a Charter Concierge to Learn More

Your Charter Concierge will help you create an experience you and your family will never forget. Celebrating a special occasion? Take the family on vacation? Explore incredible sights you can only see by water? We are here to help!

Celebrate Life with us on the Water

We amplified the concept of micro weddings with the creation of Weddings on the Water. Our venue focuses on personalized details for a brief ceremony at anchor for the bride and groom and up to 10 additional guests. 

We will provide wedding planning services, coordinating Florist, Videographer, Photographer, and Caterers to create a memorable experience. The Ceremony can be followed by cruises to resort destinations around Florida’s Gulf.

It took years of planning and effort to get to this point in your life.  There is no better way to celebrate and say thank you to the people who helped you get here. Your day has come, and we strive to meet all your expectations when planning your retirement holiday. 

Your celebration may be a catered dinner and sunset sail or a weeklong excursion, combining sailing, golf, dining, and tennis as we traverse Florida’s Gulf coast and visit some of our finest resorts.

Birthdays & more

Celebrate the time of your life with the people you love aboard a well-appointed crew yacht. Whether it is a milestone or not, let our special event planner help you celebrate in style. 

We will suggest menu options and provision for day cruises for up to 12 guests or overnight retreats for up to three couples. It can be the most memorable celebration of life.   Birthday yacht charters originate from the Vinoy Marina in St. Petersburg, FL, or Key Bight in Key West.

Why Sailicity Charters & Yacht Sales?

We remove the headaches of planning and will take care of the small details with industry-leading experts. We pride ourselves on taking the time to listen to your needs because WE CARE & have a passion for sailing.

We offer the chance to climb aboard the best boats from world-class manufacturers. Our boats combine maximum comfort blended with high performance.

It takes years of experience to know the different types of sailing vessels and how to determine which one is best for you. We are here to guide you to ensure you receive the best value on the type of boat you want.

We’re sailors. We are here to give you a sailing charter experience you will never forget. Start planning your sail today.

The possibilities are endless! Our beautiful Bali Catamarans are always based at ports during high season in the region. Our Concierge Service will help you plan your sailing adventure and build itineraries that are all about you.

A bareboat charter or demise charter is an arrangement for the chartering or hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement; instead, the people who rent the vessel from the owner are responsible for taking care of such things. We are happy to arrange bareboat charters for qualified sailors who choose to go it alone. However, our specialty is to help you connect with knowledgeable captains and competent crew members to enhance your sailing experience by organizing your provisioning, planning your sailing itineraries, helping you manage meals and the galley and keeping you safe during your sailing adventure. Learn More .

Learn more about yacht ownership here .