Key Developments For Catalyst Health Solutions, Inc.
Catalyst Health Solutions, Inc. (CHSI.O) (Nasdaq)
Catalyst Health Solutions, Inc. Comments On Q4 2009 EPS Outlook; Issues FY 2010 Outlook; Earnings Outlook Above Analysts' Estimates
Catalyst Health Solutions, Inc. announced that it expects sequential earnings growth trend to continue for the fourth quarter of 2009. For fiscal 2010, the Company expects net income to be between $81.0 and $84.0 million, which equates to earnings per diluted share (EPS) of $1.80 to $1.88 per share and revenue to be between $3.3 and $3.6 billion. The Company reported EPS of $0.39 in the third quarter of 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.41 for the fourth quarter of 2009; EPS of $1.74 and net profit of $77.5 million on revenue of $3.3 billion for fiscal 2010.
Catalyst Health Solutions, Inc.'s Subsidiary Catalyst Rx Selected For Michigan's Public School Employees Retirement System
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of Catalyst Health Solutions, Inc., announced that the Michigan Department of Management & Budget, Purchasing has recommended Catalyst to provide PBM services for Michigan`s Public School Employees Retirement System (MPSERS), pending management and State Administrative Board approval.
Catalyst Health Solutions, Inc. Extends And Increases Revolving Credit Facility To $100 Million
Catalyst Health Solutions, Inc. announced that it has entered into an amended agreement with Wachovia Bank, N.A., a Wells Fargo Company, to extend and increase its secured revolving credit facility. The new credit facility will mature on October 9, 2012 and has been increased from $50 million to $100 million.
Catalyst Health Solutions, Inc. Raises FY 2009 EPS Guidance
Catalyst Health Solutions, Inc. raised its fiscal 2009 earnings guidance to a range between $1.45 and $1.50 per share (EPS). The increased guidance represents diluted EPS growth of 25% to 29% over fiscal 2008 results. According to Reuters Estimates, analysts are expecting the Company to report EPS of $1.40 for the same period. The Company cited that result of the strong financial performance this year, new sales commitments, and margin trends are the primary reason for positive guidance.
Catalyst Health Solutions, Inc.'s Catalyst Rx New Sales Top $250 Million Annually; Company Completes Strategic Acquisition
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of Catalyst Health Solutions, Inc. announced that it secured new PBM business cumulatively representing more than $250 million in annualized revenues and acquired Total Script, a PBM based out of Broomfield, Colorado. The Company has added dozens of new clients consisting of self-funded employers, unions and health plans, including the Hawaii State Teachers Association Voluntary Employees Beneficiary (HSTA VEBA) Trust, based in Honolulu, Hawaii. Catalyst also announced it has acquired Total Script effective July 16, 2009. Total Script services small to mid-size employers in the Midwest and manages pharmacy benefits for approximately 50,000 lives. Financial terms were not disclosed.
