Health insurer Cigna signs 10-year deal with Canada's Catamaran

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Health insurer Cigna signs 10-year deal with Canada's Catamaran

(Reuters) - Health insurer Cigna Corp signed a 10-year agreement with pharmacy benefit manager Catamaran Corp and said it expected to record a related charge of about $25 million in the current quarter. U.S.-listed shares of Catamaran, formerly SXC Health Solutions, rose 15 percent in extended trading as the deal lifts uncertainty over a key contract. The Canadian company had a contract with Medicare provider HealthSpring, which was acquired by Cigna. The contract brought in about a third of Catamaran's 2012 revenue of $9.94 billion. ...

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