This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Catamaran Announces $60 Million In Contracts With State Of Indiana Medicaid

LISLE, IL, Oct. 23, 2012 /PRNewswire/ - Catamaran (NASDAQ: CTRX, TSX: CCT), a leading provider of technology and pharmacy benefit management (PBM) services, today announced it has been awarded HCIT contracts to provide implementation, adjudication, and certain PBM services to the State of Indiana's Medicaid program. The contracts are for a total of six years, not including two one-year options, and total approximately $60 million over the initial six-year term.

Under the terms of the agreement, Catamaran will provide a flexible and customized suite of PBM services, including implementation, claims processing, clinical and technical call center services, electronic prescribing, federal and supplemental rebate administration, pharmacy audits, specialty medication management, and enhanced Coordination of Benefits, among others. Catamaran's operational services will commence on April 1, 2013, supporting the State of Indiana's one million Medicaid members with an annual drug spend of approximately $800 million.

"Catamaran is building incredible momentum around creating tailored, innovative PBM solutions for state governments seeking to reduce healthcare costs, simplify the delivery of medicine and improve the health of their beneficiaries," said Mark Thierer, Chairman and CEO of Catamaran. "As a consultative partner to the State of Indiana, Catamaran will provide services and technology solutions to streamline the program and avoid the costly events that the right medicine or intervention can deter."

To support the program's comprehensive requirements, Catamaran will open a dedicated office and call center in Indianapolis in November 2012, housing Catamaran pharmacists, technicians and other essential staff.

"Catamaran was considered the best choice for meeting our Medicaid Pharmacy Benefit program requirements.  Their use of flexible technology, program analytics and a clear, expedient transition plan are examples of the expertise we were looking for in a vendor," said Patricia Casanova, Director, Office of Medicaid Policy and Planning.  "The State of Indiana and its diverse Medicaid membership will benefit from Catamaran's professional staff and customized Pharmacy Benefit Management technology and solutions."

The State of Indiana fills approximately 12.5 million fee-for-service pharmacy claims annually. Catamaran is partnering with minority business firm BC Forward, and woman owned business firm Critical Skills, Inc. as subcontractors on the contract to support the State of Indiana's commitment to diversity.

About Catamaran Catamaran, the industry's fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs.  Managing more than 200 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 Lisle, Ill. with multiple locations in the U.S. and Canada. For more information, please visit

SOURCE Catamaran

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.23 -1.00%
FB $117.88 0.38%
GOOG $696.48 0.60%
TSLA $226.61 -2.50%
YHOO $35.90 -0.31%


Chart of I:DJI
DOW 17,648.52 -102.39 -0.58%
S&P 500 2,051.10 -12.27 -0.59%
NASDAQ 4,732.0970 -31.1270 -0.65%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs