M&A Deal Summary

Catamaran Health Solutions Acquires HospiScript Services

On May 16, 2008, Catamaran Health Solutions acquired healthcare services company HospiScript Services from Advantage Capital Partners and New Capital Partners for 108M USD

Acquisition Highlights
  • This is Catamaran Health Solutions’ 1st transaction in the Healthcare Services sector.
  • This is Catamaran Health Solutions’ largest (disclosed) transaction.
  • This is Catamaran Health Solutions’ 1st transaction in the United States.
  • This is Catamaran Health Solutions’ 1st transaction in Alabama.

M&A Deal Summary
Date 2008-05-16
Target HospiScript Services
Sector Healthcare Services
Buyer(s) Catamaran Health Solutions
Sellers(s) Advantage Capital Partners
New Capital Partners
Deal Type Add-on Acquisition
Deal Value 108M USD
Advisor(s) Edge Healthcare Partners LLC (Financial)

Target

HospiScript Services

Montgomery, Alabama, United States
HospiScript Services is a pharmaceutical services company working exclusively with hospices and dedicated to improving patient care and reducing pharmacy costs. HospiScript empowers hospices with the ability to reduce their drug costs and gain administrative efficiencies by providing access to a nationwide network of pharmacies and integrating powerful tools and resources.

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Buyer(S) 1

Buyer

Catamaran Health Solutions

Rockville, Maryland, United States
Category Company
Founded 1994
Sector Healthcare Services
DESCRIPTION

Catamaran Health Solutions, LLC operates as a full-service pharmacy benefit management company in the United States.

DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.

DEAL STATS #
Overall 24 of 97
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 6 of 54
State (Alabama) 2 of 4
Country (United States) 24 of 97
Year (2008) 1 of 2
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-12 Veran Medical Technologies

St. Louis, Missouri, United States

Veran Medical Technologies, Inc. is a privately held image guided medical device company focused on developing the next standard of care for minimally invasive delivery of interventional oncology therapies. Veran Medical Technologies is based in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-19 Alacrity Solutions

Fishers, Indiana, United States

Alacrity Solutions is a provider of outsourced claims management solutions to insurance carriers. Alacrity was formed in 1976 and is based in Fishers, Indiana.

Buy -
SELLER

New Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

New Capital Partners is a private equity firm focused on investing in high-growth companies. The Firm has a preference for Southeast US-based companies looks to acquire and/or partner with businesses and management teams who are seeking to build sustainable companies. Sectors of interest include healthcare services, healthcare IT, financial services, financial technology, and business services. New Capital Partners was established in 2001 and is based in Birmingham, Alabama.

DEAL STATS #
Overall 2 of 11
Sector (Healthcare Services) 2 of 6
Type (Add-on Acquisition) 2 of 7
State (Alabama) 2 of 3
Country (United States) 2 of 11
Year (2008) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-16 Awarix

Birmingham, Alabama, United States

Awarix provides enterprise visibility software solutions which allow hospitals to streamline throughput, improve caregiver effectiveness and increase patient satisfaction.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-03 Teladoc Health

Purchase, New York, United States

Teladoc Health is a national network of board-certified, state-licensed primary care physicians who provide telephone-based consultations 24 hours a day. Teladoc physicians diagnose routine care, and non-emergency medical problems via phone, recommend treatment, and prescribe medications when necessary. Teladoc Health was founded in 2002 and is based in Purchase, New York.

Buy -
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