Catamaran to move headquarters from Lisle to Schaumburg
Pharmacy benefits management company Catamaran Corp., formerly known as SXC Health Solutions, said it will relocate its corporate headquarters from Lisle to Schaumburg.
The company will move into an 11-story, 300,000-square-foot facility at Windy Point, 1600 McConnor Parkway, Catamaran said in a release. When complete, the company will combine the operations of its current headquarters in Lisle and a facility in Bannockburn.
The company said the new facility will help support its growth plans following the $4 billion acquisition of Ohio-based Cataltyst Health Solutions last April. SXC Health Solutions changed its name to Catamaran in July.
The new company now ranks as one of the top 20 in the Chicago region, with more than 3,500 employees nationwide and estimated revenues of $10 billion for 2012. The company was ranked No. 1 on the Fortune Magazine's "100 fastest Growing Companies" in 2011.
"When we moved into our Lisle headquarters in 2007, we were a $90 million company, and though the location has served us extremely well, our growth trajectory and positioning as the nation's fourth-largest pharmacy benefits manager demands a larger footprint," said Mark Thierer, Catamaran Chairman and CEO. "Catamaran's new headquarters will represent our emergence as a health care leader, both in Chicago and nationally, and will provide a state-of-the-art base for our employees, clients and other stakeholders for many years to come."
The 11-story building will feature an on-site fitness center, cafeteria, recreation area and outdoor seating in addition to employee work spaces and a conference and training center.
Catamaran said it had conducted a study of commuting patterns of its 1,000 Chicago area employees to find a location that would minimize potential disruption created by the relocation. Schaumburg was selected as the most centralized location after exploring numerous other properties in the suburban market, according to the company.
Catamaran will begin a comprehensive interior renovation in late summer, with an occupancy date targeted for spring 2013. The company's 25,000-square-foot call center will remain at 2441 Warrenville Road in Lisle. Catamaran is also opening a 25,000-square-foot Innovation Center at 300 N. LaSalle St. in Chicago.
Jones Lang LaSalle represented Catamaran in Schaumburg transaction. Terms of the transaction were not announced.
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