SXC Health Solutions Corp. to acquire National Medical Health Card Sys...(claimsprocessing systems to the SXC plat...),Health

"The acquisition of NMHC is an essential step in our strategic evolution towards leadership in Pharmacy Spend Management and will create value for the companies' customers, employees, and shareholders," said Gordon S. Glenn, SXC's Chairman and CEO. "NMHC's base of 300 customers and 2.3 million lives under management, coupled with its established mail-order and specialty pharmacy operations, expands the capabilities of our full-service PBM offering and is complementary to our traditional software license and ASP business," said Gordon S. Glenn, SXC's Chairman and CEO. "In addition, NMHC has valuable relationships with industry consultants and provides us with a customer base that has critical mass with third-party administrators, managed Medicaid, state governments and Taft-Hartley organizations. This transaction helps us achieve our goal of providing a broad customer base with a comprehensive suite of technology and benefits-management services under a flexible and transparent pricing model."

Mr. Glenn continued, "SXC has a truly unique business model, offering our clients a pathway for control of their pharmacy benefits program based upon their individual needs. We continue to invest aggressively in our core license and ASP processing offerings, and now with the acquisition of NMHC, we have greatly enhanced the capabilities of our informedRx(TM) full service PBM offering. We are the only company in the PBM space to offer customers such a broad portfolio of solutions."

After closing, SXC's competitive position will center on an innovative mix of market expertise, information technology, clinical capability, scale of operations and mail order and specialty pharmacy offerings. The combined company will be uniquely positioned to service a wide va
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