Catamaran acquires Salveo Specialty Pharmacy for $260 million

Catamaran Corp. (NASDAQ: CTRX, TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology solutions, announced today the completion, effective as of January 2, 2015, of its previously disclosed acquisition of Salveo Specialty Pharmacy, for a purchase price of $260 million in cash, subject to certain customary post-closing adjustments. The purchase price was funded from Catamaran's existing cash balance.

"This reaffirms our commitment to grow our specialty pharmacy capabilities," said Mark Thierer, Chairman and CEO of Catamaran. "Salveo and BriovaRx™ are highly complementary to each other and the combination presents a great opportunity to further expand our specialty scale."

Salveo Specialty Pharmacy is an independent specialty pharmacy company headquartered in St. Petersburg, Fla., with business operations in New York (Echo Salveo Specialty Pharmacy) and California (Mission Road Pharmacy). Salveo manages approximately $400 million in annual drug spend.