OptumRx and Catamaran have agreed to combine.
OptumRx is UnitedHealth Group's free-standing pharmacy care services business.
The agreement calls for the acquisition of Catamaran's outstanding common stock for $61.50 per share in cash.
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The transaction is expected to close during the fourth quarter of 2015, subject to Catamaran shareholders' approval, regulatory approvals and other customary closing conditions.
The combination diversifies OptumRx's customer and business mix, while accelerating its technology leadership and flexible service offerings.
The acquisition is expected to be accretive to UnitedHealth Group's net earnings in the area of $0.30 per share in 2016.
UnitedHealth Group plans to finance the acquisition from existing cash resources and new debt.
The company affirmed its $6.00 to $6.25 per share earnings outlook assuming the absorption of all merger costs, the ongoing commitment to advance its dividend policy as planned, and a continued but moderated level of share repurchase.
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