Schaumburg, Ill.-based Catamaran will expand its workers’ compensation market presence with Atlanta-based Healthcare Solutions, which provides workers’ compensation claims software. Catamaran will execute the transaction entirely with cash, according to a news release.
Healthcare Solutions is expected to generate $35 million in annual income before interest, taxes, depreciation and amortization. The integration of the two companies is expected to take 12 to 18 months, according to the news release.
The announcement comes concurrently with Catamaran’s Q4 earning disclosure, showing a 46 percent revenue increase. The company reported $21.6 billion in 2014 compared to $14.8 billion in 2013. Gross profit increased from $1.1 billion in 2013 to $1.4 billion in 2014, according to a news release.
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