LISLE, IL, Jan. 12 /CNW/ - SXC Health Solutions Corp. ("SXC" or the
"Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of pharmacy benefit
management (PBM) and technology services, announces that it's informedRx PBM
unit has been awarded a three-year contract to provide PBM services to the
110,000 member UFCW & Employers Benefit Trust (UFCW Trust) based in Walnut
Creek, California. The contract is expected to generate approximately $80
million in annual revenue for SXC.
Under terms of the contract, informedRx will provide claims processing,
specialty pharmacy services, mail order pharmacy services, network management
and a suite of clinical programs designed to help the UFCW Trust contain the
costs within its prescription drug programs and enhance the level of care and
service for its members. informedRx expects to launch its services with the
UFCW Trust in the first quarter of 2009.
"We are pleased to expand our reach into the labor market with a highly
respected organization such as UFCW Trust," said Mark Thierer, President and
Chief Executive Officer at SXC. "Our flexible suite of PBM services and
fee-for-service business model are an ideal fit for the labor market where
transparency and accountability are in high demand."
"After a rather exhaustive RFP selection process we determined informedRx
matched our goals and objectives moving forward the best," said Jacques
Loveall, Chairmen of UFCW & Employers Benefit Trust. "informedRx's unique
model fit perfectly with what our members have come to expect in the delivery
and service of the Pharmacy benefit."
About informedRx(R), a SXC Company
informedRx(R) is a broad suite of à la carte pharmacy benefit services
that provide a flexible and cost-effective alternative to traditional PBM
offerings. informedRx is built around SXC's industry leading technology
solutions including pharmacy claims processing and reporting, rebate
management system and near real-time alternative therapy messaging. 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.
About UFCW & Employers Benefit Trust
Located in Walnut Creek, California, the UFCW & Employers Benefit Trust
provides pension, health and welfare benefits and services for members of UFCW
Union locals in Northern California and Hawaii who are employed in grocery,
retail drug, and general retail businesses. Benefits and services are also
provided to retirees and eligible dependents.
About SXC Health Solutions
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 PBM services, 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 employers, health plans, Federal,
provincial, and, state and local governments, pharmacy benefit managers,
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.
For further information:
For further information: Jeff Park, Chief Financial Officer, SXC Health
Solutions Corp., Tel: (630) 577-3206, 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