SCHAUMBURG, IL, July 23, 2015 /CNW/ - Catamaran Corporation
[NASDAQ: CTRX, TSX: CCT] announced that Optum completed its
acquisition of Catamaran effective earlier today.
Under the terms of the agreement, all of the shares of Catamaran
were acquired for $61.50 per share in
cash, with all Catamaran shares expected to be delisted from NASDAQ
effective as of close of trading today and from the Toronto Stock
Exchange (TSX) shortly.
In connection with the completion of the acquisition, Catamaran
repaid in full and terminated its existing senior credit
facilities. On July 23, 2015,
Catamaran also delivered an irrevocable notice of redemption to
holders of all of its outstanding 4.75% Senior Notes due 2021
(CUSIP No. 148887AA0) (the "Notes") and irrevocably deposited with
the trustee for the Notes sufficient funds to fund the redemption
in full of the Notes on August 23,
2015. As a result, Catamaran and the subsidiary
guarantors under the Notes have been released from their respective
obligations under the Notes indenture (subject to certain limited
exceptions), effective as of July 23,
2015.
About Catamaran
Catamaran, one of the industry's fastest-growing pharmacy benefits
manager, helps organizations and the communities they serve take
control of prescription drug costs. Managing more than 400 million
prescriptions each year on behalf of 35 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
Schaumburg, IL., with multiple
locations in the United States and
Canada. For more information,
please visit www.CatamaranRx.com, and for industry news and
information follow Catamaran on Twitter, @CatamaranCorp.
SOURCE Catamaran