Pharmacy-benefits manager SXC Health Solutions has agreed to pay $4.4 billion to acquire rival Catalyst Health Solutions, in a deal that means more consolidation in the health care industry.
Lisle, Illinoisbased SXC said Wednesday that it will pay $28 in cash and 0.6606 shares of its own stock in exchange for each Catalyst share. The purchase price represents a 28 percent premium over Catalyst’s Tuesday closing price. The companies, both of which work with pharmacies and employers to manage prescription drug benefits plans, expect the deal to result in roughly $125 million in annual savings in each of the first two years after closing.
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