WAG's PBM officially belongs to Catalyst Health Solutions

ROCKVILLE, Md. — Catalyst Health Solutions on Monday announced it has completed its acquisition of Walgreens’ pharmacy benefit management subsidiary, Walgreens Health Initiatives.

“We have been pleased with the integration planning and are highly confident that the company will rapidly realize the many strategic and financial benefits of this transaction,” stated David Blair, Catalyst CEO.

Catalyst will issue a separate press release and conduct a special investor conference call on July 7 to further discuss the WHI acquisition and provide updated 2011 financial guidance, the company stated. The financial guidance will incorporate estimated revenue and earnings contributions from WHI, as well as the expected timing and scope of upfront integration and transactional expenses.