Cat­a­lyst agrees to buy PBM Fu­tureScripts

Modern Healthcare - - Late News -

Cat­a­lyst Health So­lu­tions, Rockville, Md., en­tered a de­fin­i­tive agree­ment to buy Fu­tureScripts, the phar­macy-ben­e­fit man­age­ment sub­sidiary of Philadel­phi­abased In­de­pen­dence Blue Cross, for $225 mil­lion. Af­ter the deal’s close—ex­pected to take place this year pend­ing cus­tom­ary con­di­tions and an­titrust clear­ance— Cat­a­lyst would man­age In­de­pen­dence Blue Cross’ phar­macy ben­e­fits while main­tain­ing the Fu­tureScripts brand un­der the terms of a 10-year con­tract. The $225 mil­lion sale price in­cludes the fu­ture tax ben­e­fit Cat­a­lyst would en­joy based on the struc­ture of the trans­ac­tion, ac­cord­ing to a news re­lease. Cat­a­lyst re­ported a net in­come of $19.5 mil­lion on rev­enue of $890.1 mil­lion for the quar­ter ended June 30, beat­ing its per­for­mance in the same quar­ter last year by 6.4%.

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