Catamaran Corporation (NASDAQ:CTRX) is a provider of pharmacy benefit management services and healthcare IT solutions to the healthcare benefit management industry. UnitedHealth Group completed its acquisition of Catamaran during the third quarter. The Fund received $61.50 per share in cash in exchange for our remaining shares, which was slightly above our base case estimate of intrinsic value of approximately $60 at the time the deal was announced. While it is gratifying to have a well-regarded industry participant confirm our notion of Catamaran’s quality and undervaluation, it is also somewhat bittersweet parting with a potential compounder in an industry that we believe has an attractive future.
From Wallace Weitz (Trades, Portfolio)'s 3Q 2015 commentary.
