Catamaran shares likely to move higher in 2H 2013, says Credit Suisse Credit Suisse views Catamaran risk/reward as favorable and that shares can move higher with or without the Cigna (CI) contract. Shares are Outperform rated with a $61 price target.
Catamaran to acquire Salveo Specialty Pharmacy for $260M in cash Catamaran announced that it has entered into a definitive agreement to acquire Salveo Specialty Pharmacy, an independent specialty pharmacy company headquartered in St. Petersburg, Florida with business operations in New York and California. Salveo manages approximately $400M in annual drug spend. The purchase price of $260M in cash represents a purchase price multiple of approximately 13x Salveo's trailing-twelve-month EBITDA and is expected to be funded through cash on the balance sheet. This acquisition is expected to be completed during Q4.