SXC Health Solutions to buy Catalyst in purchase valued at US$4.4 billion


NEW YORK — SXC Health Solutions Corp. plans to buy fellow pharmacy benefits manger Catalyst Health Solutions Inc. in a deal the companies valued at US$4.4 billion, less than a month after competitor Express Scripts Inc. closed a US$29.1 billion acquisition.

SXC Health said Wednesday it will pay US$28 in cash and a portion of its stock valued at US$53.02 per share for each share of Catalyst. That equals a purchase price of US$81.02 per share, a premium of about 28 percent over Catalyst’s Tuesday closing price of US$63.54.