New Stock Ticker Symbol and Leadership Team Announced
LISLE, IL,
July 10, 2012 /PRNewswire/ -
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 and PBMs.
"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.
About Catamaran
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.