New Stock Ticker Symbol and Leadership Team Announced
LISLE, IL, July 10, 2012 /CNW/ - Following the recent completion of its
merger with Catalyst Health Solutions, Inc., SXC Health Solutions Corp.
today 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 (PBM) to create the fourth largest PBM in
the U.S. 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
"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 U.S. 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. Mark Thierer will lead
the firm as Chairman and CEO, and Jeff Park will serve as Executive
Vice President and CFO. Former Catalyst President and Chief Operating
Officer Rick Bates 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 and Canada.
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 Canada. For more information, please visit www.catamaranRx.com.
SOURCE SXC Health Solutions Corp.
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