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Catamaran Corporation (formerly SXC Health Solutions) is a Schaumburg, Illinois based pharmacy benefit management company that sells services related to pharmacy benefit management and medical record keeping to businesses in the United States. Working independently of the government and insurance companies allows it to operate as a third party verifier; the RxCLAIM online claim processing system allows for prescription drug claims to be processed online if the customer lives in and fills his/her prescription in the United States. SXC has three separate but interrelated business segments which deal with prescription drug programs. For 2013 23% of company revenue came from Cigna Corporation. Most of the companys growth came in 2008 when it doubled in size; Between 2005 and 2010 revenue increased 3,400%. As a Canadian startup, the company received venture capital subsidies from the Canadian government in addition to private investments. These subsidies allowed the business to grow initially and establish its business model in advance of its initial public offering, which was offered through the NASDAQ exchange in 2009. The success of the mixed public and private approach in SXCs case has been called "perhaps the best example of the flexibility and the value added by the Canadian hybrid system." In 2013 company revenue increased by 49% thanks to a full year of prescription claims at the Catalyst division, and additional volumes from newly acquired Restat. On 30 March 2015, it was announced that Catamaran will be acquired by OptumRx (A UnitedHealth Group company). Systems Xellence (SXC), founded in 1993, was a Canadian company that first went public in 1995 when it joined the TSX. Six years later, in 2001, it acquired ComCoTec, an Illinois-based software business. After going public on the NASDAQ stock market in 2006, the company shifted its headquarters from Milton, Ontario to Chicago, the city ComCoTec was based in. SXC was one of the first companies to build technology used in pharmacy benefit management.
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