Catalyst Health Solutions has completed its acquisition of Walgreens Health Initiatives, the pharmacy benefit-management subsidiary of Walgreen Co., according to a news release.
Catalyst closes Walgreens PBM deal
Specific terms of the deal were not disclosed, but Rockville, Md.-based Catalyst funded the deal with cash on hand and amounts available under its credit facility, according to the release. A special investor conference is scheduled for July 7 to address the acquisition further.
Catalyst's subsidiaries include Catalyst Rx; HospiScript Services, a PBM serving the hospice industry; FutureScripts, formerly the PBM subsidiary of Philadelphia-based Independence Blue Cross; and Immediate Pharmaceutical Services.
Last week Catalyst announced that its chief financial officer, Hai Tran, would resign July 15 to pursue other business opportunities.
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