Dohmen to Sell Restat, its Pharmacy Benefit Manager (PBM) Division to Catamaran
Milwaukee, WI (PRWEB) August 01, 2013 -- Catamaran, the industry’s fastest-growing pharmacy benefit manager, will buy Milwaukee, WI-based Restat, from its parent company Dohmen, for $409.5 million in a transaction expected to close in the fourth quarter of 2013, the companies announced today.
Catamaran CEO Mark Thierer said the addition of Restat will create immediate value for clients and members of both organizations. “As one of the largest privately held pharmacy benefit managers, Restat’s core business is perfectly aligned with Catamaran’s. We have a full suite of services that will complement the strengths of Restat to create a unique go-to-market PBM.”
Dohmen CEO Cynthia (Dohmen) LaConte agrees, “Dohmen’s been committed to creating efficiencies in healthcare supply for over 155 years, so it was important for us to partner with a company that could lower prescription drug costs without compromising care. Catamaran has a unique track record of achieving the right balance of scale and service. Joining Catamaran will create an even stronger marketplace offering in cost, clinical capability and customer service.”
LaConte said the sale of Restat is part of Dohmen’s strategic plan to grow and strengthen its life science service offering. “We’ve decided to exit the pharmacy benefit management business so we can focus exclusively on our life science clients. Dohmen has a long history of anticipating transformative change and building better business models to meet it, and our industry is facing a significant paradigm shift from volume to value. We think we’re uniquely positioned to help drug, device and personalized medicine companies make this transition.”
The agreement to sell Restat, was signed by Catamaran and Dohmen on July 31, 2013, and is set to close in the fourth quarter of 2013.
About Dohmen
Founded in 1858, Dohmen is a life science services company dedicated to creating a safer, more effective healthcare supply system. As the trusted partner to more than 600 BioPharma and Medtech innovators, Dohmen propels start-up, mid-tier and Fortune 500 companies with support services that span the commercialization continuum from pre-approval regulatory consulting to in-home patient services. Privately held and conflict free, Dohmen is uniquely positioned to propel personalized healthcare for life science innovators and individuals.
Carole Pfeil, SVP Marketing Communcations, Dohmen (Restat's Parent Company), http://www.Dohmen.com, 414.299.4914, [email protected]
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