Catamaran Corp has closed its acquisition of Healthcare Solutions Inc from Brazos Private Equity Partners LLC. No financial terms were disclosed. Harris Williams & Co. and J.P. Morgan Securities LLC provided financial advice to Healthcare Solutions on the transaction. Healthcare Solutions is a medical cost management solutions provider to customers in the workers’ compensation and auto liability markets.
DALLAS, April 9, 2015 /PRNewswire/ — Brazos Private Equity Partners, LLC (“Brazos”), a leading Dallas-based private investment firm, today announced that it has completed the sale of its portfolio company Healthcare Solutions Inc. (“Healthcare Solutions”) to Catamaran Corporation (NASDAQ: CTRX) (TSX: CCT), a leading provider of pharmacy benefit management services and technology.
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. Utilizing market-leading technology, Healthcare Solutions delivers demonstrated benefits and savings complemented by deep industry expertise.
Jeff Fronterhouse, Co-Chief Executive Officer and Co-Founding Partner of Brazos, said, “We are very pleased to complete this successful investment in Healthcare Solutions. Together with the leadership team at Healthcare Solutions, we have accomplished our goal of building the company into a market leader. Healthcare Solutions has a very exciting future ahead and we wish everyone associated with the business continued success as they move forward as a part of Catamaran.”
Harris Williams & Co. and J.P. Morgan Securities LLC served as financial advisors and Weil, Gotshal & Manges LLP served as legal counsel to Healthcare Solutions.
About Brazos Private Equity Partners, LLC
Brazos Private Equity Partners is a Dallas-based private equity firm that currently manages approximately $1 billion of equity capital. Brazos focuses on investments in middle-market companies in the consumer, healthcare, commercial & 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. For additional information about Brazos, please visit the firm’s website at www.brazospartners.com.