SCHAUMBURG, IL, Oct. 1, 2013 /PRNewswire/ – Catamaran Corp. (NASDAQ: CTRX, TSX: CCT), a leading provider of pharmacy
benefit management (PBM) services and technology, announced today the
completion, effective as of October 1, 2013, of its previously
disclosed acquisition of RESTAT, LLC (“RESTAT”), for a purchase price
of $409.5 million in cash, subject to certain customary post-closing
adjustments. The purchase price was funded from Catamaran’s existing
cash balance and $350 million in borrowings under its revolving credit
facility.

“This is yet one more step to executing on our strategy of pursuing
acquisitions in the middle market,” said Mark Thierer, Chairman and CEO
of Catamaran. “RESTAT presents a great opportunity to add to our scale
and to offer new programs and services to RESTAT clients.”

RESTAT provides prescription claim processing and PBM services. RESTAT
is based in Milwaukee, Wisconsin, where its operations will remain.

About Catamaran

Catamaran, one of the industry’s fastest-growing pharmacy benefits
manager, helps organizations and the communities they serve take
control of prescription drug costs. Managing more than 250 million
prescriptions each year on behalf of 25 million members, our flexible,
holistic solutions improve patient care and empower individuals to take
charge of their health. Processing one in every five prescription
claims in the U.S., Catamaran’s skill and scale deliver compelling
financial results and sustainable improvement in the overall health of
members. Catamaran is headquartered in Schaumburg, Illinois with
multiple locations in the U.S. and Canada. For more information, please
visit CatamaranRx.com.

Forward Looking Statements

Certain information included herein constitutes “forward-looking
statements” within the meaning of applicable securities laws and is
subject to important risks, uncertainties and assumptions. These
forward-looking statements include, among other things, information
with respect to the Company’s anticipated operating results and
management’s objectives and the strategies to achieve those objectives,
as well as information with respect to the Company’s beliefs, plans,
expectations, anticipations, estimates and intentions. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management at this
time, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. We caution that such
forward-looking statements involve known and unknown risks,
uncertainties and other risks that may cause our actual financial
results, performance, or achievements to be materially different from
our estimated future results, performance or achievements expressed or
implied by those forward-looking statements. Numerous factors could
cause actual results to differ materially from those in the
forward-looking statements, including without limitation, the risks and
challenges associated with our PBM partnering agreement with Cigna
Corporation due to the size of the client and the complexity and term
of the agreement; our dependence on, and ability to retain, key
customers; our ability to achieve increased market acceptance for our
product offerings and penetrate new markets; consolidation in the
healthcare industry; the existence of undetected errors or similar
problems in our software products; our ability to identify and complete
acquisitions, manage our growth, integrate acquisitions and achieve
expected synergies from acquisitions; our ability to compete
successfully; potential liability for the use of incorrect or
incomplete data; the length of the sales cycle for our solutions and
services; interruption of our operations due to outside sources;
maintaining our intellectual property rights and litigation involving
intellectual property rights; our ability to obtain, use or
successfully integrate third-party licensed technology; compliance with
existing laws, regulations and industry initiatives and future changes
in laws or regulations in the healthcare industry; breach of our
security by third parties; our dependence on the expertise of our key
personnel; our access to sufficient capital to fund our future
requirements; potential write-offs of goodwill or other intangible
assets; and the outcome of any legal proceeding that has been or may be
instituted against us.

In addition, numerous factors could cause actual results with respect to
the RESTAT acquisition to differ materially from those in the
forward-looking statements, including, without limitation, the
possibility that the expected efficiencies and cost savings from the
transaction will not be realized, or will not be realized within the
expected time period; the risk that the Catamaran and RESTAT businesses
will not be integrated successfully; disruption from the transaction
making it more difficult to maintain business and operational
relationships; and the risk of customer attrition at RESTAT or
Catamaran. This list is not exhaustive of the factors that may affect
any of our forward-looking statements and is subject to change. Other
factors that should be considered are discussed from time to time in
Catamaran’s filings with the U.S. Securities and Exchange Commission,
including the risks and uncertainties discussed under the captions
“Risk Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in our Annual Report on Form 10-K
and subsequent Form 10-Qs, which are available at www.sec.gov.
Investors are cautioned not to put undue reliance on forward-looking
statements. All subsequent written and oral forward-looking statements
attributable to Catamaran or persons acting on our behalf are expressly
qualified in their entirety by this notice. We disclaim any intent or
obligation to update publicly these forward-looking statements, whether
as a result of new information, future events or otherwise.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS RELEASE REPRESENTS THE
COMPANY’S CURRENT EXPECTATIONS AND, ACCORDINGLY, IS SUBJECT TO CHANGE.
HOWEVER, THE COMPANY EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO
UPDATE OR REVISE ANY FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT
OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY
APPLICABLE LAW.

SOURCE Catamaran