LISLE, IL, Feb. 21, 2012 /CNW/ - SXC Health Solutions Corp. ("SXC" or
the "Company") (NASDAQ: SXCI) (TSX: SXC), a leading provider of
technology and pharmacy benefit management ("PBM") services, announces
that it has been awarded a three year contract from Blue Cross & Blue
Shield of Rhode Island ("BCBSRI"), a health insurer based in
Providence, Rhode Island.
Under the terms of the BCBSRI agreement, SXC will provide a full suite
of PBM services, including claims adjudication, pharmacy network
management, clinical programs and mail, among others. SXC's services
will begin January 1, 2013, and will support approximately 450,000
BCBSRI members with an annual drug spend of approximately $400 million
"We are very pleased to have earned Blue Cross & Blue Shield of Rhode
Island's business. They are a recognized leader in the health plan
market and have an aggressive strategy for improving both the cost and
quality of local healthcare," said Mark Thierer, Chairman and CEO of
SXC. "We look forward to helping BCBSRI execute on their plans."
"With prescription drug costs continuing to escalate and serve as a
major driver of healthcare costs, SXC offered our members a robust
service and pricing proposal that will help BCBSRI continue to provide
access to the highest quality healthcare, while also helping to make
healthcare more affordable," said Peter Andruszkiewicz, President and
Chief Executive Officer at BCBSRI. "We expect the transition in 2013
to be seamless and BCBSRI members can rest assured that they will
continue to be able to fill prescriptions at any one of our more than
50,000 in-network pharmacies."
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 PBM services
and 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
health plans, employers, federal, state and local governments, pharmacy
benefit managers, retail pharmacy chains and other healthcare
intermediaries. SXC is headquartered in Lisle, Illinois with multiple
locations in the US and Canada.
For more information please visit www.sxc.com.
SOURCE SXC Health Solutions Corp.
For further information:
SXC Health Solutions Corp.
Tel: (630) 577-4871