LISLE, IL, July 2 /CNW/ - SXC Health Solutions Corp. ("SXC" or the
"Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and
pharmacy benefits management services, announces a 36-month renewal agreement
for its informedRx suite of services with The University of Michigan. Services
to be provided under the renewal include: RxCLAIM(R) for on-line adjudication
services of prescription drug claims, RxTRACK(R) for data warehouse access,
benefit administration, pharmacy network management, rebate services and
clinical prior authorization management.
"We are very pleased to extend our relationship with The University of
Michigan and to continue to support their innovative programs centered on
reducing their prescription drug expenditures and enhancing the quality of
care for their plan members," said Mark Thierer, President and Chief Executive
Officer at SXC.
"Our relationship with SXC has allowed The University of Michigan to
effectively manage our pharmacy benefits by implementing a variety of programs
in a very flexible manner - keeping the rate of increase of our drug costs
well below the national average," stated Keith Bruhnsen, Assistant Director,
Benefits at The University of Michigan. "Their ongoing commitment to timely
and superior member service was also an important factor in our renewal."
informedRx(R) is a broad suite of à la carte pharmacy benefit services
that provide a flexible and cost-effective alternative to traditional pharmacy
benefit management offerings. informedRx is built around SXC's industry
leading technology solutions including pharmacy claims processing and
reporting, rebate billing system and near real-time alternative therapy
messaging. All contracting is founded on a total transparency and pass-through
model for manufacturer rebates, retail network contracting and MAC management.
informedRx also provides clinical intervention programs and drug utilization
reviews which feature a coordinated approach with plan sponsors allowing input
and control for specific client and market situations. All programs are priced
on a fee-for-service basis.
About SXC Health Solutions
SXC Health Solutions Corp. (SXC) is a leading provider of pharmacy
benefits management (PBM) services and HealthCare IT (HCIT) solutions to the
healthcare benefits management industry. The Company's HCIT Group is dedicated
to supporting the PBM industry with a broad range of technology, tools and
services including a wide range of software applications, application service
provider (ASP) processing services and professional services. SXC's customers
include the largest organizations in the pharmaceutical supply chain, such as
Federal, provincial, and state and local governments, PBMs, managed care
organizations, institutional pharmacies, 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.
For further information:
For further information: Jeff Park, Chief Financial Officer, SXC Health
Solutions, Inc., Tel: (630) 577-3206, firstname.lastname@example.org; Dave Mason, Investor
Relations, The Equicom Group Inc., (416) 815-0700 ext. 237,
email@example.com; Susan Noonan, Investor Relations - U.S., The SAN
Group, LLC, (212) 966-3650, firstname.lastname@example.org