- Three year agreement provides expanded technology tools to support full-service PBM's continued growth in marketplace - LISLE, IL, June 5
LISLE, IL, June 5 /PRNewswire-FirstCall/ - SXC Health Solutions Corp.
("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of
pharmacy benefits management services, announced an agreement for its Health
Care Information Technology (HCIT) group to provide ongoing business and
technology services to Prescription Solutions, Inc, a UnitedHealth Group
company. The contract has a provision for a three-year base period that would
generate approximately $2.5 million in revenue over each year of the
agreement, and contains provisions to potentially extend the agreement beyond
the three-year term.
SXC has provided technology support and services to Prescription
Solutions, Inc. since 1993. Under the terms of the new agreement, SXC will
continue to provide application maintenance, development support, and
collaborative enhancements for the pharmacy benefit systems licensed under
separate agreements. This agreement extends SXC's support to new applications
- including extensive Medicare Part D product support - as well as additional
business implementations over the course of the agreement.
"This agreement strengthens and expands our valued and long-standing
relationship with Prescription Solutions," said Mike Bennof, Executive Vice
President of Health Care Information Technology at SXC. "Our goal is to be the
industry's leading provider of tools, technology and services to help our
customers better manage pharmacy programs, and in turn, to reduce the cost of
drug delivery and enhance the healthcare experience for their plan members. We
are very pleased to be partnered with a market leader like Prescription
Solutions, and to help them achieve such operational objectives."
About SXC Health Solutions Corp.
SXC Health Solutions Corp. is a leading provider of pharmacy benefits
management (PBM) services and Health Care Information Technology (HCIT)
solutions to the healthcare benefits management industry. The Company's
product offerings and solutions combine a wide range of software applications,
application service provider (ASP) processing services and professional
services, designed for many of the largest organizations in the pharmaceutical
supply chain, such as Federal, provincial, and, state and local governments,
pharmacy benefit managers, managed care organizations, retail pharmacy chains
and other healthcare intermediaries. SXC is headquartered in Lisle, Illinois
with 13 locations in the US and Canada. For more information please visit
www.sxc.com.
SOURCE SXC Health Solutions, Inc.
