Optum and Catamaran Corporation join forces

Optum and Catamaran Corporation join forces. | Courtesy of Optum

Optum and Catamaran Corporation, both pharmaceutical companies, recently completed a combining of the two businesses.

Catamaran and Optum’s pharmacy care services business, OptumRx, is expected to serve the needs of more than 65 million people, fulfilling more than one billion prescriptions in 2015.

“We are pleased to welcome the talented Catamaran team to OptumRx, and together we look forward to bringing uniquely powerful, combined pharmacy care service offerings to the marketplace,” Larry Renfro, CEO of Optum, said. “OptumRx is now exceptionally well-positioned to support and connect pharmacists, care providers, payers and patients in achieving the shared goals of improved health outcomes, better consumer experiences and lower costs.”

The terms of the agreement had all of the shares of Catamaran acquired for $61.50 per share in cash, with all shares of Catamaran delisted from the NASDAQ effective as of close of trading Thursday and from the Toronto Stock Exchange shortly.

“OptumRx now has the expertise, scale, resources and innovative spirit to be the most valued, consumer-focused pharmacy care services partner in a rapidly changing health care system,” Mark Thierer, CEO of OptumRx and former chairman and CEO of Catamaran, said. “In addition to the consumer service enhancements and cost management opportunities this combination makes possible, OptumRx’s longtime business relationship and shared technology with Catamaran greatly simplifies the integration now underway. Our clients, partners and members can expect stability and a smooth transition.”