Harris Williams & Co. Advises Healthcare Solutions, Inc. on its Pending Sale to Catamaran
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that it advised Healthcare Solutions Inc. (Healthcare Solutions), a portfolio company of Brazos Private Equity Partners (Brazos), on its pending sale to Catamaran (NASDAQ: CTRX) (TSX: CCT). Healthcare Solutions is a leading provider of pharmacy benefit management and specialty services to the workers' compensation industry. The transaction, which is subject to customary closing conditions, is being led by Cheairs Porter and Jacques Fu of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group and Marshall Croft of the firm’s Business Services Group.
“Healthcare Solutions utilizes a technology-driven platform that is purpose-built to deliver highly customized medical management solutions to help its customers reduce healthcare costs,” said Cheairs Porter, a managing director at Harris Williams & Co. “The combined entity’s scale and high-touch customer service will solidify its leadership position in the workers’ compensation industry.”
Healthcare Solutions is the parent company of Cypress Care, Procura Management, ScripNet and Modern Medical. Through its subsidiary companies, Healthcare Solutions delivers integrated medical cost management solutions to over 800 customers in the workers’ compensation and auto liability markets. The company’s clinical and technology‐based services include pharmacy benefit management, specialty healthcare services, PPO networks, medical bill review, case management and Medicare set‐aside services.
Brazos is a Dallas-based private equity firm founded in 1999 that currently manages approximately $1 billion of equity capital. Brazos focuses on investments in middle market companies in the consumer, healthcare, commercial and industrial, and business services sectors with enterprise values up to $500 million. Brazos has been one of the most active middle market private equity investment firms over the past decade, having completed 80 acquisitions representing approximately $3 billion in total transaction value.
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 400 million prescriptions each year on behalf of 35 million members, the company’s 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 Schaumburg, Illinois, with multiple locations in the U.S. and Canada.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including healthcare IT; alternate site care; managed care and cost containment services; medical devices, products and distribution; outsourced clinical and practice management services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.
Harris Williams & Co.’s Business Services Group has experience across a variety of sectors, including facilities services; route-based services; and environmental services; business process outsourcing; legal and insurance services; marketing and information services; professional services; payment processing and financial services; education and training. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.