Catalyst Health Solutions Extends and Increases Revolving Credit Facility to $100 Million
October 13 2009 - 9:00AM
Business Wire
Catalyst Health Solutions, Inc. (NASDAQ:CHSI), a pharmacy
benefit management (PBM) company, announced today that it has
entered into an amended agreement with Wachovia Bank, N.A., a Wells
Fargo Company, to extend and increase its secured revolving credit
facility. The new credit facility will mature on October 9, 2012
and has been increased from $50 million to $100 million.
“This amended credit facility provides Catalyst with additional
financial resource to execute our acquisition plans and increase
shareholder value,” said Hai Tran, Chief Financial Officer. “The
expansion and extension of Catalyst’s revolving credit facility
reflects our focus on maintaining financial flexibility and a solid
capital foundation. We value the confidence placed in Catalyst and
our long-term growth strategy.”
About Catalyst Health Solutions, Inc.
(www.chsi.com):
Catalyst Health Solutions, Inc. is built on strong, innovative
principles in the management of prescription drug benefits and
provides an unbiased, client-centered philosophy resulting in
industry-leading client retention rates. The Company's subsidiaries
include Catalyst Rx, a full-service pharmacy benefit manager
serving more than 6 million lives in the United States and Puerto
Rico; HospiScript Services, LLC, one of the largest providers of
pharmacy benefit management services to the hospice industry; and
Immediate Pharmaceutical Services, Inc., a fully-integrated
prescription mail service facility in Avon Lake, Ohio. The
Company's clients include self-insured employers including state
and local governments, managed care organizations, unions,
hospices, third-party administrators and individuals.
This press release may contain “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks and uncertainties that
might materially affect our results, particularly those risks
referred to in our Annual Report on Form 10-K for the year ended
December 31, 2008 under “Item 1A. Risk Factors.” Readers are urged
to carefully review and consider the various disclosures made in
our Annual Report on Form 10-K and our other filings with the
Securities and Exchange Commission that attempt to advise
interested parties of the risks and uncertainties that may affect
our business. Catalyst Health Solutions, Inc. does not undertake
any obligation to update forward-looking statements, whether as a
result of new information, future events, or other
developments.
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