Key Developments: Catamaran Corp (CCT.TO)
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Latest Key Developments (Source: Significant Developments)
Catamaran Corp Updates FY 2013 Guidance
Catamaran Corp announced that with today's announcement, the Company is changing its fiscal 2013 financial guidance to include the impact of its recent Cigna partnership and to reflect the acquisition of Restat. The Company expects revenue in the range of $14.2 to $14.6 billion, EBITDA in the range of $650-$660 million, GAAP EPS (fully-diluted) in the range of $1.18-$1.23 and Adjusted EPS (fully-diluted) in the range of $1.87 to $1.92 (excluding all amortization of intangible assets). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $14.3 billion, EBITDA of $662 million and EPS of $1.85 for fiscal 2013. Full Article
Catamaran Corp Acquires Restat
Catamaran Corp announced that it has entered into a definitive agreement to acquire Restat, LLC one of the privately held pharmacy benefit managers, for a purchase price of $409.5 million in cash, subject to certain customary post-closing adjustments. Catamaran expects the transaction to close in the fourth quarter of 2013. Full Article
Cigna Corp Enters Partnering Agreement With Catamaran Corp
Cigna Corp announced that it will build on its pharmacy benefits business by entering into a ten-year strategic PBM partnering agreement with Catamaran Corp which combines the customer focus and clinical excellence of Cigna's pharmacy team with the capabilities of Catamaran, and the combined purchasing scale of the two companies. Under the terms of the agreement, Cigna will continue to lead formulary management, clinical and product development and sales and marketing, while also managing all day-to-day customer- and client-facing functions. Cigna will also continue to provide differentiated clinical services to over eight million customers and integration of medical care and disability management with clinical and pharmacy programs. In retaining its direct engagement with physicians and health care professionals, Cigna will build on its commitment to provide better health outcomes for customers. Full Article
Catamaran Corp Reiterates FY 2013 Revenue Guidance-Conference Call
Catamaran Corp announced that it is reiterating its fiscal 2013 revenue guidance. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $14.2 billion for fiscal 2013. Full Article
Catamaran Corp Reaffirms FY 2013 Guidance
Catamaran Corp re-affirmed fiscal 2013 and expects revenue of $14.2 to $14.6 billion, EBITDA of $660 to $670 million, GAAP EPS (fully-diluted) of $1.18 to $1.25 and Adjusted EPS (fully-diluted) of $1.81 to $1.88 (excluding all amortization of intangible assets). Full Article
Catamaran Corp Issues FY 2013 Guidance; Revenue Guidance Below Analysts' Estimates; EBITDA Guidance Above Analysts' Estimates
Catamaran Corp announced that for fiscal 2013, it expects revenue to be in the range of $14.2-$14.6 billion, EBITDA in the range of $660-$670 million, GAAP earnings per share (EPS) (fully-diluted) in the range of $1.18-$1.25 and adjusted EPS (fully-diluted) in the range of $1.81-$1.88 (excluding all amortization of intangible assets). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $15.05 billon, EBITDA of $620 million and EPS of $1.83 for fiscal 2013. Full Article
Catamaran Corp Reaffirms FY 2012 Revenue, EBITDA Guidance; Raises FY 2012 EPS Guidance
Catamaran Corp revised fiscal 2012 guidance. The Company re-affirmed revenue and EBITDA and increased GAAP EPS (fully-diluted) and adjusted EPS (fully-diluted) fiscal 2012 guidance amounts assume the full year effects of the recent stock split. The Company expects revenue of $9.9-$10.0 billion, EBITDA of $353 to $358 million, GAAP EPS (fully-diluted) of $0.64 to $0.68 versus prior estimate of $0.62 to $0.64 and adjusted EPS1 (fully-diluted) of $1.09 to $1.13 versus prior estimate of $1.07 to $1.09 (excluding all transaction-related amortization). Full Article
Catamaran Corp Raises FY 2012 Guidance
Catamaran Corp updated fiscal 2012 guidance and expects revenue in the range of $9.9 to $10.0 billion, EBITDA in the range of $353 to $358 million, GAAP EPS (fully-diluted) of $1.24 to $1.27 and Adjusted EPS (fully-diluted) of $2.14 to $2.17 (excluding all transaction-related amortization of $126-128 million less an estimated 2012 tax rate of 38%-40%). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $10.16 billion, EBITDA of $342 million and EPS of $2.28 for fiscal 2012. Full Article
SXC Health Solutions, Corp Announces Name Change To Catamaran Corp
SXC Health Solutions, Corp announced that following the recent completion of its merger with Catalyst Health Solutions, Inc., SXC Health Solutions Corp announced a new name and brand for the Company,. The Company's name has changed to Catamaran Corp. The Company’s shares will be traded under the ticker CTRX on the NASDAQ and as CCT on the Toronto Stock Exchange. Full Article
SXC Health Solutions, Corp Reaffirms FY 2012 Guidance
SXC Health Solutions, Corp announced that it is re-affirming its fiscal 2012 financial targets, which does not take into account the impact of the transaction, or related costs of the Company's announced merger with Catalyst which is expected to close in the second half of 2012. For fiscal 2012, the Company expects revenue of $6.8 billion to $6.9 billion, EBITDA of $248 million to $255 million, GAAP EPS (fully-diluted) of $1.96 to $2.04 and adjusted EPS1 (fully-diluted) of $2.37 to $2.45 (excluding all transaction-related amortization). Full Article
Catamaran profit rises; lacklustre forecast drags shares
- Pharmacy benefit manager Catamaran Corp reported a 59 percent jump in fourth-quarter profit, but the company's forecast for the year and the lack of clarity on its deal pipeline dampened investor sentiment.

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