LISLE, IL, Sept. 10 /CNW/ - SXC Health Solutions Corp. ("SXC" or the
"Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and
pharmacy benefit management (PBM) services, announced today that it has
renewed a multi-year contract, through to June 30, 2011, for its informedRx
PBM business with the Employer-Union Health Benefits Trust Fund (EUTF) of
Hawaii. Under the agreement, SXC is providing full-service PBM services
including mandatory mail, specialty distribution and patient care clinical
programs and Employer Group Waiver Plans for the EUTF Prescription Preferred
Provider Organization Drug Plan.
"This contract extension will allow us to continue to deliver superior
PBM services to the Hawaii ETUF and its members. We earn these types of
contract renewals by demonstrating to our customers that we can strategically
manage very complex benefit programs that help them to save money and increase
the plan options available to their members," said Mark Thierer, President and
Chief Executive Officer at SXC.
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 Corp.
SXC Health Solutions Corp. is a leading provider of pharmacy benefit
management (PBM) services and Healthcare Information Technology (HCIT)
solutions to the healthcare benefits management industry. As the industry's
"Technology-Enabled PBM"(TM), SXC's product offerings and solutions combine a
wide range of advanced PBM services, software applications, application
service provider (ASP) processing services, and professional services to help
healthcare organizations reduce the cost of prescription drugs and deliver
better healthcare to their members. SXC serves many of the largest
organizations in the pharmaceutical supply chain, such as health plans;
employers; Federal, provincial, and state governments; institutional
pharmacies; pharmacy benefit managers; and retail pharmacy chains. SXC is
headquartered in Lisle, Illinois with multiple locations in North America.
Learn more at www.sxc.com.
Certain statements included herein, including those that express
management's expectations or estimates of our future performance, constitute
"forward-looking statements" within the meaning of applicable securities laws.
Forward-looking statements are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by management at this time,
are inherently subject to significant business, economic and competitive
uncertainties and contingencies. We caution that such forward-looking
statements involve known and unknown risks, uncertainties and other risks that
may cause our actual financial results, performance, or achievements to be
materially different from our estimated future results, performance or
achievements expressed or implied by those forward-looking statements.
Numerous factors could cause actual results to differ materially from those in
the forward-looking statements, including without limitation, our ability to
achieve increased market acceptance for our product offerings and penetrate
new markets; consolidation in the healthcare industry; the existence of
undetected errors or similar problems in our software products; our ability to
identify and complete acquisitions, manage our growth and integrate
acquisitions; our ability to compete successfully; potential liability for the
use of incorrect or incomplete data; the length of the sales cycle for our
healthcare software solutions; interruption of our operations due to outside
sources; our dependence on key customers; maintaining our intellectual
property rights and litigation involving intellectual property rights; our
ability to obtain, use or successfully integrate third-party licensed
technology; compliance with existing laws, regulations and industry
initiatives and future change in laws or regulations in the healthcare
industry; breach of our security by third parties; our dependence on the
expertise of our key personnel; our access to sufficient capital to fund our
future requirements; and potential write-offs of goodwill or other intangible
assets. This list is not exhaustive of the factors that may affect any of our
forward-looking statements. Other factors that should be considered are
discussed from time to time in SXC's filings with the U.S. Securities and
Exchange Commission, including the risks and uncertainties discussed under
that captions "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in our 2008 Annual Report on
Form 10-K and subsequent Form 10-Qs, which are available at www.sec.gov.
Investors are cautioned not to put undue reliance on forward-looking
statements. All subsequent written and oral forward-looking statements
attributable to SXC or persons acting on our behalf are expressly qualified in
their entirety by this notice. We disclaim any intent or obligation to update
publicly these forward-looking statements, whether as a result of new
information, future events or otherwise.
Certain of the assumptions made in preparing forward-looking information
and management's expectations include: maintenance of our existing customers
and contracts, our ability to market our products successfully to anticipated
customers, the impact of increasing competition, the growth of prescription
drug utilization rates at predicted levels, the retention of our key
personnel, our customers continuing to process transactions at historical
levels, that our systems will not be interrupted for any significant period of
time, that our products will perform free of major errors, our ability to
obtain financing on acceptable terms and that there will be no significant
changes in the regulation of our business.
For further information:
For further information: Jeff Park, Chief Financial Officer, SXC Health
Solutions, Inc., Tel: (630) 577-3100, email@example.com; Dave Mason, Investor
Relations - Canada, The Equicom Group Inc., (416) 815-0700 ext. 237,
firstname.lastname@example.org; Susan Noonan, Investor Relations - U.S., The SAN
Group, LLC, (212) 966-3650, email@example.com