Dohmen unloads its PBM business, Restat, to Catamaran for $409.5 million
Dohmen will focus more closely on services to life sciences companies
Dohmen (Milwaukee), which over the years has gone from a major regional drug wholesaler, to a portfolio of service companies to pharma and payers, is exiting the pharmacy benefit management (PBM) business with the sale to Catamaran. The sale will close in the fourth quarter.
“We’ve decided to exit the pharmacy benefit management business so we can focus exclusively on our life science clients,” said Cynthia LaConte, Dohmen CEO. “Dohmen has a long history of anticipating transformative change and building better business models to meet it, and our industry is facing a significant paradigm shift from volume to value. We think we’re uniquely positioned to help drug, device and personalized medicine companies make this transition.”
In the past two years, Dohmen had added a specialty pharmaceuticals distributor (Centric Health), a medical devices distributor (Reglera) and two medical communications firms, BioSoteria and MedComm Solutions, to its existing businesses, DDN, a logistics services provider and a private investment group. Catamaran, meanwhile, styles itself as the fastest-growing PBM in the US, having been formed from the merger of SXC Health Solutions and Catalyst Health Solutions a year ago. The Lisle, IL, firm boasts 25 million members.
