SXC and Catalyst to Combine, Creating Leading Provider of Pharmacy Benefit Management Services and Healthcare Information Technology Solutions
Joins Two of the Country's Fastest Growing, Innovative and Highly Complementary PBMs;---- Combination Will Offer Comprehensive Suite of Best-in-Class Services and Customized Solutions ----Increased Size and Scale Will Enable $13 Billion Combined Company to Better Serve Clients and Capitalize on Significant Growth Opportunities
Transaction Expected to be Highly Accretive to 2013 Results
SXC Health Solutions Corp. (NASDAQ: SXCI, TSX: SXC) and Catalyst Health Solutions, Inc. (NASDAQ: CHSI) today announced that their Boards of Directors have unanimously approved a definitive merger agreement under which SXC and Catalyst will combine in a cash and stock transaction valued at approximately $4.4 billion. Under the terms of the agreement, Catalyst shareholders will receive $28.00 in cash and 0.6606 shares of SXC stock for each Catalyst share, which implies a purchase price of $81.02 per Catalyst share and a premium of approximately 28% based on the closing stock prices of SXC and Catalyst on April 17, 2012.
- Published: 18 April 2012
- Written by Editor