Catalyst Health Solutions Inc. has agreed to pay Independence Blue Cross $225 million for a pair of pharmacy benefit management (PBM) subsidiaries.
Catalyst, Rockville, Md., is acquiring FutureScripts L.L.C. and FutureScripts Secure L.L.C. from Independence Blue, Philadelphia. The companies hope to complete the deal sometime this year.
Catalyst provides PBM services for about 7 million people, and FutureScripts provides PBM services for about 1 million Independence Blue enrollees.
After the deal is completed, Catalyst will manage Independence Blue pharmacy benefits for 10 years, the companies say.
Catalyst will keep the FutureScripts brand and FutureScripts employees, and it will offer Independence Blue a full range of PBM services, including services such as formula management and rebate contracting, the companies say.