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UnitedHealth's OptumRx Closes USD 12.8bn Acquisition of Catamaran.

M2 EQUITYBITES-July 24, 2015-UnitedHealth's OptumRx Closes USD 12.8bn Acquisition of Catamaran

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24 July 2015 - US-based health insurer UnitedHealth Group's (NYSE: UNX) OptumRX pharmacy care services unit has closed its USD 12.8bn cash acquisition of US-based pharmacy benefits manager Catamaran Corp., the company said.

The deal was announced on 30 March.

Catamaran and Optum's pharmacy care services business, OptumRx, are expected to serve the needs of more than 65 m people and fulfill more than one bn prescriptions in 2015.

The combination of Catamaran and OptumRx, which will operate as OptumRx, offers scaled, innovative pharmacy care services driving unmatched value to clients and consumers.

OptumRx's synchronized health care experience goes well beyond traditional pharmacy benefits management by integrating Optum's data and analytics and connecting pharmacy care with a person's overall health benefits and care management.

Under the terms of the agreement, all of the shares of Catamaran were acquired for USD 61.50 per share in cash, with all shares of Catamaran expected to be delisted from the NASDAQ and from the Toronto Stock Exchange shortly.

In connection with the completion of the acquisition, Catamaran repaid in full and terminated its existing credit facility.

OptumRx is an innovative pharmacy care services company managing the prescription drug benefits of commercial, Medicare, Medicaid and other government health plans, as well as those of employers and unions.

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Date:Jul 24, 2015
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