UnitedHealth buys Catamaran for $12.8bn

GMT 15:25 2015 Monday ,30 March

Arab Today, arab today UnitedHealth buys Catamaran for $12.8bn

UnitedHealth it will finance the Catamaran deal
New York - AFP

UnitedHealth said Monday it is acquiring Illinois-based group Catamaran for $12.8 billion, in a move which would boost the US giant's pharmacy services.
Catamaran helps employers and health insurers obtain prescription drugs at a lower rate from pharmaceutical groups and pharmacists, and is known as a pharmacy-benefit management company.
UnitedHealth, which will pay $61.50 per share for  Catamaran, said it would merge the acquired group with its own unit that provides the same services.
Pharmacy-benefit management is becoming increasingly critical in controlling costs within the pharmaceutical market expected to expand from $100 billion in revenues in 2014 to as much as $400 billion annually by 2020.
UnitedHealth it will finance the deal using available cash and new debt, and expected it to be completed by the end of this year.


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