is catamaran now optumrx

Catamaran officially becoming OptumRx

Effective October 1, 2015, Catamaran, Caterpillar's pharmacy benefit manager (PBM), will change its name to OptumRx. This PBM branding change doesn't impact design or coverage under our prescription drug plan.

Plan participant materials mailed from Catamaran will start to show OptumRx branding. Catamaran ID cards will continue to be accepted at pharmacies and won't need to be replaced. The processing information and phone number listed on the cards are not changing.  

Nothing! It's a name change only. If you're a plan participant, you can continue to access your pharmacy records and drug information using the same website ( mycatamaranrx.com ) and mobile app (OptumRx/CatamaranRx in your mobile device's app store) as always. You may also access prescription drug benefit information at benefits.cat.com .

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Is Catamaran Now OptumRx? (The Truth Revealed)

Have you heard about the acquisition of Catamaran by OptumRx? It is one of the most talked-about events in the healthcare industry.

In this article, we will explore the truth behind this merger and what it means for the future of healthcare.

We will uncover the history of Catamaran, what OptumRx is, how it differs from Catamaran, and the services that OptumRx provides.

We will also discuss the impact of this merger on the healthcare industry and its future.

Get ready to find out all the facts about OptumRx and Catamaran!

Table of Contents

Short Answer

No, Catamaran is no longer OptumRx.

Catamaran was acquired by UnitedHealth Group in 2015 and is now known as OptumRx, a part of the UnitedHealth Group family of companies.

OptumRx is a pharmacy care services company that provides pharmacy benefit management services and technology-enabled solutions to employers, health plans, and government programs.

History of Catamaran

Catamaran was founded in 2013 as a pharmacy benefit management company, offering cost-effective and innovative solutions to help manage prescription drug benefits.

By leveraging its industry-leading capabilities, Catamaran helped health plans, employers, and government programs make the most of their prescription drug benefits.

It quickly grew to become one of the largest and most successful pharmacy benefit management companies in the United States.

Catamaran was known for its commitment to quality and affordability and was focused on providing its customers with the best possible experience.

It also focused on new technologies and services to help customers get the most out of their prescription drug benefits.

For example, Catamaran pioneered the use of predictive analytics to help customers make better decisions about their prescription drug benefits.

In 2016, Catamaran was acquired by OptumRx, a leading pharmacy benefit management company.

As a result, Catamaran is now known as OptumRx and continues to provide the same quality and affordability that it was known for.

OptumRx has expanded its services to include mail order and specialty pharmacy, retail network pharmacy, clinical programs, and data analytics.

With these additional services, OptumRx is poised to revolutionize the pharmacy benefit management industry.

What is OptumRx?

OptumRx is a pharmacy benefit management (PBM) company that was founded in 2013, providing cost-effective and innovative solutions to help manage prescription drug benefits.

OptumRx is part of UnitedHealth Group, one of the largest and most respected healthcare companies in the world.

It offers a comprehensive suite of services that includes mail order and specialty pharmacy, retail network pharmacy, clinical programs, and data analytics.

OptumRx is dedicated to providing quality, affordable healthcare solutions to its clients.

It works with health plans, employers, and government programs to make the most of their prescription drug benefits, with a focus on providing quality care that is tailored to the needs of each individual.

Through its industry-leading capabilities, OptumRx helps to ensure that its clients get the best possible value from their prescription drug benefits.

OptumRx is also committed to providing excellent customer service.

It has established a network of licensed pharmacists and pharmacy technicians, who are available to answer questions and provide assistance with any prescription drug benefit issues.

The company also offers a range of online tools and services, including prescription drug pricing comparisons, drug interaction checkers, and specialty drug ordering.

OptumRx is constantly striving to innovate and improve its products and services, in order to meet the ever-changing needs of its customers.

It has recently launched a number of new initiatives, such as a mobile app that allows customers to manage their prescription drug benefits on the go, and a program that rewards customers for taking their medications as prescribed.

By providing cutting-edge solutions, OptumRx is revolutionizing the way that healthcare is delivered.

How OptumRx is Different from Catamaran

OptumRx is a pharmacy benefit management company that was previously known as Catamaran.

The company is dedicated to providing cost-effective and innovative solutions to help manage prescription drug benefits.

OptumRx is a comprehensive service that offers mail order and specialty pharmacy, retail network pharmacy, clinical programs, and data analytics.

OptumRx is different from Catamaran in several ways.

First of all, OptumRx has a much more expansive service offering than Catamaran.

OptumRx offers a wider range of services, including mail order and specialty pharmacy, retail network pharmacy, clinical programs, and data analytics, while Catamaran had a more limited offering.

Additionally, OptumRx is more technologically advanced than Catamaran.

OptumRx has a strong focus on leveraging its industry-leading capabilities and data analytics to make the most of their prescription drug benefits, while Catamaran lacked the same level of technology and analytics.

Finally, OptumRx is more committed to quality and affordability than Catamaran.

The company has made a commitment to revolutionizing the pharmacy benefit management industry with its focus on quality and affordability, whereas Catamaran had a more traditional approach to the industry.

Overall, OptumRx is a very different company than Catamaran, with a much more comprehensive service offering, advanced technology, and a commitment to quality and affordability.

With its dedication to providing the best solutions for managing prescription drug benefits, OptumRx is set to revolutionize the pharmacy benefit management industry.

Benefits of OptumRx

OptumRx is the new name for Catamaran, a pharmacy benefit management company.

Since its founding in 2013, OptumRx has been providing cost-effective and innovative solutions to help manage prescription drug benefits.

OptumRx offers a full range of services, such as mail order and specialty pharmacy, retail network pharmacy, clinical programs, and data analytics.

This allows OptumRx to help health plans, employers, and government programs make the most of their prescription drug benefits.

OptumRx is committed to quality and affordability, making it an ideal choice for those looking to save money on prescription drug costs.

With its commitment to quality and affordability, OptumRx is revolutionizing the pharmacy benefit management industry.

Some of the major benefits of OptumRx include:

Lower costs: OptumRx offers competitive pricing on prescription drugs, meaning customers can save money on their prescription drug costs.

Better service: OptumRx offers personalized customer service, making it easier for customers to get the help they need.

Comprehensive coverage: OptumRx offers a wide range of coverage options, allowing customers to find the right plan for their needs.

Enhanced safety: OptumRx takes extra steps to ensure the safety of its customers, including the use of verification technology to help prevent fraud.

Improved access: OptumRx makes it easy for customers to access their prescription drugs, with convenient mail order and retail pharmacy options.

Better data analytics: OptumRx uses data analytics to help health plans, employers, and government programs make the most of their prescription drug benefits.

In short, OptumRx is a great choice for those looking for an affordable, reliable, and comprehensive pharmacy benefit management company.

Services Offered by OptumRx

When it comes to managing prescription drug benefits, OptumRx is the leader in the industry.

With its commitment to quality and affordability, it offers a full range of services to help health plans, employers, and government programs make the most of their prescription drug benefits.

OptumRx provides mail order, specialty pharmacy, retail network pharmacy, and clinical programs.

Through mail order, members can conveniently order their prescriptions online or by phone and have them delivered right to their door.

Specialty pharmacy services include personalized care for those with complex medical conditions and medication needs.

Retail network pharmacy provides members with access to a robust network of participating pharmacies.

And clinical programs ensure that members receive the right medications at the right time.

In addition, OptumRx offers data analytics to help employers and health plans better understand and manage their prescription drug benefits.

The companys advanced analytics platform provides real-time data and insights to help employers and health plans make informed decisions about their prescription drug benefits.

OptumRx is committed to making prescription drug benefits more affordable and accessible.

With its industry-leading capabilities, it is poised to revolutionize the pharmacy benefit management industry.

What is the Impact of OptumRx?

The impact of OptumRx on the pharmacy benefit management industry is far-reaching.

With its innovative solutions and commitment to quality and affordability, OptumRx is revolutionizing the way health plans, employers, and government programs manage prescription drug benefits.

OptumRx provides a full range of services that can help to reduce costs and optimize outcomes.

Through its mail order and specialty pharmacy services, OptumRx can help health plans, employers, and government programs realize significant cost savings without sacrificing quality care.

The company also offers a comprehensive retail network pharmacy program that provides access to a wide range of medications and brands.

This program helps to ensure that patients have access to the medications they need at a cost that is affordable for them.

OptumRx uses advanced data analytics to monitor medication utilization and adherence, helping to identify gaps in care and potential cost savings.

The company also offers a suite of clinical programs, such as medication therapy management, that can help to ensure that patients receive the best care possible.

By leveraging its industry-leading capabilities, OptumRx is revolutionizing the pharmacy benefit management industry and making the most of prescription drug benefits.

The company is committed to making sure that patients receive the highest quality care at the most affordable cost.

The Future of OptumRx

With its commitment to quality and affordability, OptumRx is poised to revolutionize the pharmacy benefit management industry.

The company is focused on providing comprehensive, cost-effective solutions that help manage prescription drug benefits.

OptumRx offers a wide range of services, including mail order and specialty pharmacy, retail network pharmacy, clinical programs, and data analytics.

This comprehensive approach helps health plans, employers, and government programs make the most of their prescription drug benefits.

OptumRx is also committed to staying ahead of the curve when it comes to innovation.

The company has developed a number of cutting-edge technologies that are designed to maximize efficiency and reduce costs.

For example, OptumRx’s innovative data analytics platform is designed to provide insights into trends and patterns in prescription drug usage.

This helps OptumRx and its customers make better decisions about how to manage prescription drug benefits.

In addition, OptumRx is actively investing in research and development in order to stay ahead of the competition.

The company is constantly looking for new ways to improve its services and offerings.

This includes developing new technologies and expanding its network of retail pharmacies.

OptumRx is committed to providing a high-quality, cost-effective pharmacy benefit management solution that meets the needs of its customers.

Final Thoughts

OptumRx is a pharmacy benefit management company that is revolutionizing the industry with its commitment to quality and affordability.

From its mail order and specialty pharmacy services to its data analytics offerings, OptumRx is providing innovative and cost-effective solutions to help health plans, employers, and government programs make the most of their prescription drug benefits.

Now that the truth has been revealed, it’s up to you to decide how to make the most of OptumRx’s offerings and take advantage of the benefits they provide.

James Frami

At the age of 15, he and four other friends from his neighborhood constructed their first boat. He has been sailing for almost 30 years and has a wealth of knowledge that he wants to share with others.

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UnitedHealth Group acquires Catamaran for $12.8 billion

UnitedHealth Group’s announcement that its free-standing pharmacy care services business, OptumRx, will merge with Catamaran Corp., the fourth largest pharmacy benefit manager in the U.S., makes sense, according to industry experts.

UnitedHealth Group’s announcement that its free-standing pharmacy care services business, OptumRx, will merge with Catamaran Corp., the fourth largest pharmacy benefit manager (PBM) in the U.S., makes sense, according to industry experts.

UnitedHealth Group  plans to acquire  Catamaran for about $12.8 billion in cash, the Wall Street Journal reported.

“This is a smart acquisition well aligned with UnitedHealth’s strategy-increasing their market power, adding to their suite of technology and benefit management offerings, further diversifying their non-risk business, and better positioning them for the rapidly changing post-ACA delivery system and specialty pharmacy market,” says Kip Piper, MA, FACHE, advisor with Sellers Dorsey , a Medicaid consultancy in Washington, D.C.  “It will increase their already formidable leverage in pharma, biotech, and pharmacy price negotiations. UnitedHealth will no doubt take advantage of the wealth of data, IT savvy, and diverse client base Catamaran brings to the deal.”

This merger is consistent with the types of consolidation being seen within the industry, according to Robert Taketomo, PharmD, MBA, president and CEO, Ventegra .

“However, it remains to be seen in this particular case how the desired efficiencies from scale will impact the ability to adapt to a healthcare environment in flux, and how potential channel conflict with health plan clients will be addressed,” Taketomo says.

The agreement calls for the acquisition of Catamaran’s outstanding common stock for $61.50 per share in cash. The transaction is expected to close during the fourth quarter of 2015, subject to Catamaran shareholders’ approval, regulatory approvals and other customary closing conditions. The combination diversifies OptumRx’s customer and business mix, while accelerating its technology leadership and flexible service offerings.

NEXT: Purchase details

The acquisition is expected to be accretive to UnitedHealth Group’s net earnings in the area of $0.30 per share in 2016. UnitedHealth Group plans to finance the acquisition from existing cash resources and new debt. The company affirmed its $6.00 to $6.25 per share earnings outlook assuming the absorption of all merger costs, the ongoing commitment to advance its dividend policy as planned, and a continued but moderated level of share repurchase.

“It is generally acknowledged that most such takeovers result in a transfer of wealth or value from the acquirer's shareholders to the seller's shareholders. As such, it is a good deal for Catamaran,” says Mark O. Dietrich, CPA/ABV, cpa.net , a certified public accounting firm specializing in healthcare valuation, and author of “The Financial Professional's Guide to Healthcare Reform.” “Initial reaction in the market, however, was positive for United with its share price increasing, so perhaps this deal will be an exception.

“Pharmacy costs represent a significant portion of healthcare spending in the United States, reportedly rising 12% last year, and cost control is critical,” Dietrich adds. “The pharmacy chain CVS controls one large PBM, while its competitor Walgreens sold its PBM. At least from a standard view of economics, it would appear to make more sense to have PBMs under insurer control rather than the control of the industry they attempt to manage the costs of.”

This combination is expected to create a dynamic competitor in the PBM market by combining the strengths of Catamaran’s industry-leading technology platform with the data and analytics capabilities of Optum. The combined company is expected to deliver an innovative and compelling consumer and payer services offering that will link demographic, lab, pharmaceutical, behavioral and medical treatment data to engage individuals to make better decisions as they seek the best, most effective care and improve compliance with pharmaceutical use and care protocols.

Given the business imperatives of post-Affordable Care Act policy and market environment, super low cost of capital, large corporate cash reserves, the increasing power of data and technology, and intense pressures on pricing and cost efficiency, the industry can expect more M&A activity in many segments of healthcare, according to Piper. 

“The marketplace is ripe for further vertical and horizontal consolidations in the drug supply chain and beyond,” Piper says.

“Consolidation leads to fewer choices for the users of PBMs, which of course include managed care executives,” Dietrich says. “Pharmacy costs and formularies are one element of a managed care plan's product design and may contain features regarded as competing with other managed care plans. For plans presently using, for example, United's OptumRx, a competing plan may be using Catamaran. Now, both competing managed care plans would be serviced by the same PBM.”

NEXT: OptumRx's approach

OptumRx’s advanced Clinical Synchronization approach connects pharmacy and care management systems, processes and teams to create deeper insights for higher quality, more consistent and compliant patient outcomes and savings for individuals and plan sponsors. Synchronization presents the entire patient health profile, rather than discrete pieces of an individual’s profile – a distinctive and critically important capability given the growth in U.S. spending on specialty pharmaceuticals.

Catamaran offers retail pharmacy network management, mail service pharmacy, pharmacy claims management and patient-centric specialty pharmacy services to a broad client portfolio, including health plans and employers, as well as healthcare information technology solutions to the industry. In 2015 Catamaran expects to fulfill more than 400 million prescriptions which, combined with OptumRx’s roughly 600 million annual scripts, will enable the combined entity to be a competitive force in the PBM industry. Enhanced purchasing and administrative improvements from the combination are expected to drive substantial value, with the majority of savings expected to directly benefit clients and individuals through reduced costs for prescriptions and enhanced pharmaceutical services.

Both companies have distinctive, rapidly growing specialty pharmacy services businesses. The combined organization will help customers manage the complex costs and outcomes as this portion of the pharmaceutical market expands from an estimated $100 billion in revenues in 2014 to potentially $400 billion annually by 2020.

“With pharmaceutical costs rising rapidly and the increasing prevalence of expensive specialty drugs targeting rare conditions, pharmacy costs are likely to represent an increasing share of healthcare spending in the future,” Dietrich says. “The PBM companies that control access to millions of insureds will play a critical role in determining pricing and insurance premiums.”

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UnitedHealth Group buying Catamaran pharmacy benefits manager for $12.8 billion

Catamaran serves about 25 million americans with retail pharmacy network management, mail-order pharmacy, claims management and other services..

Photo of UnitedHealth Group Corporate Headquarters from Facebook

UnitedHealth Group, the nation’s largest insurer, on Monday said it would acquire Catamaran, the country’s fourth-largest pharmacy benefits manager, for $12.8 billion. Under terms of the deal, Schaumburg, Illinois-based Catamaran will merge with OptumRx, the drug management division of UHG’s highly profitable technology and services subsidiary Optum.

In the $12.8 billion deal, expected to close by the end of the year, UHG is paying $61.50 a share, 27 percent more than Catamaran’s closing stock price on March 27.

“Catamaran’s capabilities are impressive and their leadership team has delivered the fastest growth in the industry,” said Larry Renfro, chief executive officer of UGH’s Optum, in a statement. “Optum’s longstanding business relationship with Catamaran as a technology partner means we operate on the same adjudication platform, simplifying integration and giving us confidence our combined organizations will quickly become an innovative force moving the pharmacy care services marketplace forward.”

Mark Thierer, chairman and CEO of Catamaran, said the company’s board considered a range of options for its future and unanimously decided to accept UHG’s offer.

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“The creation of a differentiated, channel-agnostic delivery model will provide payers and individuals a broader portfolio of services and a deeper product offering while aggressively focusing on managing costs,” said Thierer, Catamaran’s CEO since 2006.

Catamaran was founded in 1993 as Systems Xcellence in Toronto, gradually growing through the 2000s after relocating to suburban Chicago and a handful of acquisitions. After buying Catalyst Health solutions in 2012 for $4 billion, the company was renamed to Catamaran.

[Also: Tracking 2015 mergers and acquisitions ]

Renfro said Catamaran and Optum already had similar business strategies. OptumRx uses “clinical synchronization” to connect pharmacy and care management systems, as well as specialized teams to pursue “more consistent and compliant patient outcomes and savings for individuals and plan sponsors,” such as large employers. That approach is particularly important, Renfro said, “given the growth in U.S. spending on specialty pharmaceuticals,” which is driving a wave of drug spending that could top $500 billion by 2020.

Catamaran serves about 25 million Americans with retail pharmacy network management, mail-order pharmacy, pharmacy claims management and patient-centric specialty pharmacy services to health plans and employers. This year, the company will fill about 400 million prescriptions, and when combined with OptumRx, the new company will fill more than 1 billion scripts each year.

Currently, specialty pharmaceuticals account for only 1 percent of all U.S. prescriptions but more than 20 percent, or $100 billion, of national drug spending, and that could rise to $400 billion by the end of the decade, according to UHG. 

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UnitedHealth to buy pharmacy benefit firm Catamaran for $12.8 billion

By Sneha Banerjee (Reuters) - Health insurer UnitedHealth Group Inc agreed to buy Catamaran Corp in a deal worth about $12.8 billion (8.65 billion pounds) to boost its pharmacy benefit business as it competes with bigger rivals such as Express Scripts Holdings Co . Pharmacy benefit managers (PBM) administer drug benefits for employers and health plans and run large mail order pharmacies, helping them get better prices from drugmakers. As employers look to cut prescription costs on expensive drugs, the deal with Catamaran will give UnitedHealth's pharmacy benefits unit, OptumRx, the scale to negotiate favourable prices from pharmacy companies. U.S. drug prices rose 12 percent in 2014 due to a new treatment for hepatitis C that cost more than $80,000 but cured almost all recipients with few side effects. Another new class of drugs, to treat high cholesterol, is expected to hit the market in 2015 and has insurers worried about drug costs this year as well. The purchase of Catamaran will increase UnitedHealth's market share to 15 percent to 20 percent of the people who receive their drug benefits through pharmacy benefit managers, BMO Capital Markets analyst Jennifer Lynch said in a research note. With a combined 1 billion scripts annually, UnitedHealth will be about the same size as current industry number two, CVS Health Corp , she added. Catamaran was formed after SXC Health Solutions and PBM Catalyst Health Solutions merged in 2012. UnitedHealth's offer of $61.50 per share represents a premium of 27 percent to Catamaran's Friday close on the Nasdaq. Catamaran's stock was trading at $60.01 premarket on Monday, while UnitedHealth was up nearly 4 percent. The deal "makes sense to us, but admittedly came much earlier than we expected," Jefferies analyst Brian Tanquilut said in a research note. "We had always viewed Catamaran as a compelling asset for companies looking for scale in the PBM sector such as Optum or Walgreens but expected Catamaran to grow the business much further before pursuing a sale." He added that the offer seemed adequate and he did not expect competing bids at this point. The deal value is based on Illinois-based Catamaran's total diluted shares outstanding as of Dec. 31. The transaction is expected to close in the fourth quarter of 2015 and add about 30 cents per share to UnitedHealth's profit in 2016, the companies said. Catamaran Chief Executive Officer Mark Thierer will be CEO of OptumRx and OptumRx CEO Timothy Wicks will become president. (Additional reporting by Caroline Humer in New York; Editing by Savio D'Souza, Saumyadeb Chakrabarty and Meredith Mazzilli)

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UnitedHealth Group Inc.

Us91324p1021, managed healthcare, unitedhealth : optum :rx, catamaran complete combination.

Combined company creates a new competitive force that will provide a connected, personalized pharmacy care experience for more than 65 million Americans OptumRx’s scale and unique capabilities will help consumers and clients manage the cost and treatment challenges of pharmaceuticals

Optum announced the completion of its combination with Catamaran Corporation (NASDAQ: CTRX) (TSX: CCT). Catamaran and Optum’s pharmacy care services business, OptumRx, are expected to serve the needs of more than 65 million people and fulfill more than one billion 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 (PBM) by integrating Optum’s data and analytics and connecting pharmacy care with a person’s overall health benefits and care management. This provides a complete care solution for consumers and promotes collaboration among pharmacists and care providers. The result is better health outcomes and cost savings as people consistently get the right medications, care and guidance at the right time. As consumers, employers and payers increasingly need to access costly specialty pharmaceuticals, these synchronization capabilities set OptumRx apart in the marketplace.

“We are pleased to welcome the talented Catamaran team to OptumRx, and together we look forward to bringing uniquely powerful, combined pharmacy care service offerings to the marketplace,” said Larry Renfro, chief executive officer of Optum. “OptumRx is now exceptionally well-positioned to support and connect pharmacists, care providers, payers and patients in achieving the shared goals of improved health outcomes, better consumer experiences and lower costs.”

“OptumRx now has the expertise, scale, resources and innovative spirit to be the most valued, consumer-focused pharmacy care services partner in a rapidly changing health care system,” said Mark Thierer, chief executive officer of OptumRx and former chairman and chief executive officer of Catamaran. “In addition to the consumer service enhancements and cost management opportunities this combination makes possible, OptumRx’s longtime business relationship and shared technology with Catamaran greatly simplifies the integration now underway. Our clients, partners and members can expect stability and a smooth transition.”

Under the terms of the agreement, all of the shares of Catamaran were acquired for $61.50 per share in cash, with all shares of Catamaran expected to be delisted from the 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 credit facility. 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 (the “Notes”) and irrevocably deposited with the trustee sufficient funds to fund the redemption in full of the Notes on August 23, 2015. As a result, Catamaran and the guarantors under the Notes have been released from their respective obligations under the Notes and the Indenture (in each case, subject to certain limited exceptions), pursuant to the satisfaction and discharge provisions thereunder, effective as of July 23, 2015.

About OptumRx

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 through a national network of 67,000 community pharmacies and state-of-the-art home delivery pharmacies which have earned the prestigious Verified Internet Pharmacy Practice Sites™ (VIPPS) accreditation by the National Association of Boards of Pharmacy. OptumRx is part of Optum, a leading information and technology-enabled health services business dedicated to making the health system work better for everyone. OptumRx and Optum are a part of UnitedHealth Group Incorporated [NYSE: UNH] with principal executive offices located at UnitedHealth Group Center, 9900 Bren Road East, Minnetonka, Minnesota 55343. Visit www.optum.com for more information about OptumRx and Optum.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20150723006578/en/

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Income statement evolution, ratings for unitedhealth group inc., analysts' consensus, eps revisions, quarterly earnings - rate of surprise, sector other managed healthcare.

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OptumRx and Catamaran Are Latest Players to Consolidate in the PBM Market – How Will Your Pharmacy Be Affected?

UnitedHealth announced an agreement to acquire Catamaran for about $12.8 billion in cash, and is planning to merge the pharmacy benefit manager into its own, free-standing pharmacy benefits business, OptumRx. This deal is expected to close in the fourth quarter of 2015, after shareholder approval, regulatory approval and other customary closing conditions.

This deal is expected to combine the strength of Catamaran’s 400 million prescriptions with OptumRx’s 600 million annual prescriptions to rival the larger players like CVS/Caremark and Express Scripts. The merger is also expected to combine Catamaran’s technology platform with the data and analytics capabilities of OptumRx.

This merger has certain similarities to the Express Scripts and Medco $29.1 billion merger in 2012. This deal created one company filling a combined 1.4 billion prescriptions per year, and Express Scripts used Medco’s technology platform as well. At the time of the deal, Express Scripts and Medco were the largest and third-largest pharmacy benefits managers, respectively. The deal was scrutinized for eight months by the FTC for potential antitrust implications after being approved. However, the effect for pharmacies was that Express Scripts and Medco maintained separate contracts and networks for at least 18 months post-merger.

For specialty and compounding pharmacies, this may mean that the combined PBM may push for decreased reimbursements and may seek to force more patients through mandatory, in-house mail order and specialty pharmacies. In addition, programs initiated and implemented by Catamaran may not carry forward to the merged entity.

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StarTribune

Unitedhealth buys pharmacy-benefit manager catamaran for $12.8b.

The nation's largest health insurer, Minnetonka's United­Health Group Inc., will have more clout to push back against high drug prices with a $12.8 billion merger announced Monday.

UnitedHealth is acquiring Schaumberg, Ill.-based Catamaran Corp. in a move to gain control over how more than 1 billion prescriptions per year are dispensed. UnitedHealth's OptumRx unit was already the third-largest player in the nearly $300 billion business of managing prescription-drug benefits for Americans.

"It's a good thing for the consumer," said Leerink Partners health care analyst Ana Gupte. "We've had a lot of [drug] price issues, even beyond the wave of specialty drugs. Even within the existing brandeds and generics, the unit-price increases have been fairly significant."

Analysts and investors cheered the merger news because drug costs are a large and growing share of overall health care spending. Huge pharmacy-benefit management companies have fought against sky-high drug prices, and that battle is likely to become much more intense with the launch of a new generation of cancer drugs carrying six-figure price tags.

Pharmacy benefit managers, known in the industry as PBMs, are in the business of managing the pharmaceutical side of an insurance plan, including deciding which drugs are covered and what pharmacies or mail-order services beneficiaries use to get them. The companies can also be a potent force to negotiate bulk discounts on drugs, as was evident last year with pressure to lower costs for a $90,000 hepatitis C medication.

"We view the transaction as a positive for [UnitedHealth] as it cements Optum's position as a top player" in the PBM industry, Wells Fargo senior analyst Peter Costa wrote in a note to investors Monday.

By adding No. 4 player Catamaran, UnitedHealth's OptumRx will control 23 percent of the market, up from 14 percent. That puts it on par with the industry's biggest player, Express Scripts, which controls 30 percent of the market, and CVS/caremark's 25 percent share, according to Deutsche Bank analysts. The next-biggest company has 8 percent.

IBISWorld, which studies the industry, estimates that the $287 billion PBM market is on pace for 4.3 percent annual growth through 2020. "Growth prospects for PBMs are strong," the firm's report on the industry earlier this month said. "The 2010 Patient Protection and Affordable Care Act will expand prescription drug coverage over the next five years, which will help bolster prescription drug use and industry revenue as a result."

Investors approve

UnitedHealth on Monday agreed to pay Catamaran shareholders $61.50 per share, a 27 percent premium over Friday's closing price. The deal is expected to add 30 cents per share to UnitedHealth's earnings in 2016, following an expected closing at the end of 2015, pending shareholder and regulatory approvals.

Investors applauded the deal, sending shares of both companies higher. Catamaran stock jumped 24 percent on the news, and UnitedHealth Group gained 2.5 percent, closing at $121.

OptumRx had revenue of about $32 billion last year, while Catamaran had revenue of $21.6 billion.

UnitedHealth executives declined an interview request, but Optum's chief executive Larry Renfro said in a statement that the combination of the two companies would create "a unique offering in the industry unparalleled by current participants."

UnitedHealth Group is principally known for being the nation's largest health insurer, and its OptumRx business differentiates itself in the market by being able to inform its decisionmaking by analyzing claims on 114 million commercial and Medicare-covered beneficiaries. Catamaran, meanwhile, is known for its advanced technology platforms.

The combination is expected to allow company analysts to study patients' demographic, lab, pharmaceutical, behavioral and medical treatment data in new ways to improve medical decisionmaking and let patients better follow doctors' orders, the companies said in a statement.

Possible fallout

Stock analysts said the deal gives OptumRx a welcome ability to broaden its base beyond UnitedHealth Group customers. But it wasn't clear whether a good-sized chunk of Catamaran's business would flee with the deal. Health insurer Cigna is one of Catamaran's larger customers, but its managed-care business competes with UnitedHealth.

Costa's analysis noted that Cigna may try to pull out of its Catamaran deal, although Leerink's Gupta had a different take after talking with Cigna officials.

"They don't seem to show any concern or any interest in cleaving from Catamaran as a result of this," she said. "As long as they can share in some of the better economics from scale, they would be happy to stay with them."

Mark Thierer, Catamaran's chairman and chief executive, will become CEO of the combined OptumRx and Catamaran. Timothy Wicks, the current chief executive of OptumRx, will become president.

UnitedHealth Group is the state's largest publicly traded corporation by revenue. It reported revenue of $130.5 billion in 2014. In 2013, its revenue exceeded that of Target and Best Buy combined, according to the most recent Star Tribune 100 analysis of the state's top companies.

Joe Carlson • 612-673-4779

Twitter: @_JoeCarlson

Joe Carlson writes about medical technology in Minnesota for the Star Tribune.

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Inflation Reduction Act

Kia’s 2024 ev9 rebate just jumped to $7,500.

Kia’s rebate on the 2024 EV9 increased from $5,000 to $7,500 today, the largest discount on the EV model to date, reports CarsDirect . 

Kia sent a bulletin to dealers today announcing the new 2024 EV9 rebate, which ends on April 30. It’s a Customer Cash incentive, so it can’t be combined with promotional rates or lease incentives, such as Kia’s new 0% financing deal, but that saves the equivalent of less than the $7,500 rebate. Kia’s EV9 purchase discount is now the same as its $7,500 lease cash offer.

Kia plans to begin US production of its first three-row electric SUV by May, and the automaker expects that the EV9 will qualify for the full $7,500 Inflation Reduction Act EV tax credit by early 2025.

The EV9 is proving immensely popular: Kia America’s vice president of sales operations, Eric Watson, said today , “Our growth in SUVs and early impact of the all-new, all-electric three-row EV9 helped deliver Kia’s second-best first-quarter sales result.”

Kia EV9 prices start at $54,900 excluding destination. With the $7,500 April EV9 rebate, base pricing starts at $47,400, and that’s before you start to haggle with your dealer.

CarsDirect also helpfully pointed out that Kia’s $1,000 EV9 loyalty discount is still in place, so if you or someone in your household already owns a Kia, that’s even further savings.

Click here to find a local dealer that may have the 2024 Kia EV9 in stock. – affiliate link

If you’re an electric vehicle owner, charge up your car at home with rooftop solar panels. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing on solar, check out EnergySage , a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here . –ad*

FTC: We use income earning auto affiliate links. More.

Michelle Lewis is a writer and editor on Electrek and an editor on DroneDJ, 9to5Mac, and 9to5Google. She lives in White River Junction, Vermont. She has previously worked for Fast Company, the Guardian, News Deeply, Time, and others. Message Michelle on Twitter or at [email protected]. Check out her personal blog.

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Ang Lee Rejects 3D Now Because It’s ‘So Bad’ and the Whole Film Industry Is ‘Not Made’ for It: ‘The Filmmakers Are Bad. The Theaters Are Bad’

By Zack Sharf

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Ang Lee is moving on from 3D filmmaking after a trio of hit or miss releases: “Life of Pi” (2012), “Billy Lynn’s Long Halftime Walk” (2016) and “Gemini Man” (2019). The former title was an acclaimed blockbuster that won Lee the Oscar for best director, while the latter two releases, also distributing in high-frame rate at 120 frames per second, were mostly critical misfires and big financial disappointments. Lee hasn’t made a movie since “Gemini Man.”

“In general, not only my two movies, 3D in general … [is] so bad,” he continued. “The filmmakers are bad. The theaters are bad. The whole ecosystem is bad. It’s not made for [3D]. I refuse to complain, to blame it on the medium … it’s the audience, and the industry, [who] were not prepared.”

Lee cited movie theaters’ inability to properly project 3D filmmaking as one reason he’s retreating from it for his next movie, which he hopes is a Bruce Lee biopic.

“The theaters are stingy. It’s really dim, you can’t really see it. It’s flickering, and the 3D,” Lee said. “People do a poor job, [it] gives you a headache, it’s purely bad. You can’t blame the audience for not liking it because it’s bad. And they’re asked to pay more money. When it gets good, people like it. It’s simple. 3D is different than 2D. Your mind works differently. You cannot compare the two. One is sophisticated and the other is like a baby. That’s why I developed new projectors. It’s four times brighter. It’s a new language a filmmaker has to pick up, audience has to get used to it, it just takes time.”

In an interview with Variety , Lee teased the upcoming Bruce Lee biopic. The project is going to star the director’s son, Mason Lee, as the martial arts and movie icon.

“Neither of us are getting any younger. So I hope I get to make this movie soon,” the filmmaker said.

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Breaking news, disney declares victory in proxy fight as nelson peltz fails to win board seat, new ‘matrix’ movie in the works with drew goddard writing, directing.

The filmmaker approached Warner Bros. with a new idea to extend the franchise, known for its pioneering visual effects.

By Borys Kit

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Warner Bros. is heading back into The Matrix , and this time Drew Goddard is leading the charge.

Goddard, the fan-favorite writer-director whose credits include The Martian, The Cabin in the Woods and World War Z, has been tapped to write and direct a new Matrix feature for the studio, Warners announced Wednesday.

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“Drew came to Warner Bros. with a new idea that we all believe would be an incredible way to continue the Matrix world, by both honoring what Lana and Lilly began over 25 years ago and offering a unique perspective based on his own love of the series and characters,” said Warner Bros. Motion Pictures president of production Jesse Ehrman in a statement. “The entire team at Warner Bros. Discovery is thrilled for Drew to be making his new Matrix film, adding his vision to the cinematic canon the Wachowskis spent a quarter of a century building here at the studio.”

Released just over 25 years ago, The Matrix swept the imaginations of audiences with a mind-bending story, envelope-pushing special effects and a defining performance from Keanu Reeves. Co-written and co-directed by the Wachowskis, the film revealed how our world was a simulated reality with humans actually being used as batteries for intelligent machines and how one messiah-like figure named Neo was chosen to lead a rebellion. Introducing the idea of “bullet time” as a special effect concept, the movie earned Oscars for best visual effects, editing, sound and sound editing. The movie, grossing $467 million worldwide at the time, became a pop culture touchstone for years afterwards and made Reeves a $20 million player.

Still, Matrix loomed large over pop culture, and Lana Wachowski returned to the franchise in 2021 with The Matrix Resurrections . That one, however, seemed like the end of the line for Neo as the movie grossed only $159 million worldwide amid a day-and-date release on streaming and pandemic challenges in theaters.

The studio clearly has other plans.

Goddard has the genre cred to tackle something such as The Matrix . He began his career writing on the ’90s hit series  Buffy the Vampire Slayer and later worked on shows like  Angel, Alias and Lost. He created Netflix’s Marvel show Daredevil and was an exec producer on the acclaimed dramedy  The Good Place , which dealt with fantasy-like worlds that may or may not be heaven and hell and featured an architect figure.

On the feature side, UTA-repped Goddard wrote the monster movie Cloverfield as well as horror-genre blending Cabin in the Woods , on which he also made his directorial debut. And he earned an Oscar nomination for penning The Martian , the hit space drama directed by Ridley Scott that starred Matt Damon.

“It is not hyperbole to say  The Matrix  films changed both cinema and my life,” said Goddard in a statement. “Lana and Lilly’s exquisite artistry inspires me on a daily basis, and I am beyond grateful for the chance to tell stories in their world.”

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