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SXC Health Solutions announces PBM contract with Presbyterian Health Plan
Date:7/7/2009

LISLE, IL, July 7 /PRNewswire-FirstCall/ - 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 its informedRx PBM unit has been awarded an 18-month contract, with an option for one additional year, to provide PBM services to Presbyterian Health Plan, a health maintenance organization (HMO) based in Albuquerque, NM with an annual drug spend of approximately $150 million. The start date of the new agreement is July 1, 2009.

Presbyterian is currently an ASP client of SXC's, utilizing the Company's RxCLAIM adjudication technology. Under terms of the new agreement, Presbyterian will receive a custom portfolio of informedRx's PBM services including network management, formulary management using Zynchros formulary services, and advanced clinical tools and services, all backed by SXC's industry-leading PBM technology.

"We are pleased to add to the momentum of our growing informedRx unit and to expand our relationship with a premier client such as Presbyterian," said Mark Thierer, President and CEO of SXC. "As a long-standing ASP client, Presbyterian's conversion to informedRx is a major endorsement of the flexibility in our business model and highlights our evolution as the technology-enabled PBM. We were able to offer Presbyterian a custom solution that will enable them to enhance their member service and cost effectiveness while still providing them with direct control over certain components of their pharmacy benefits program. We believe our ability to do this is unique in our industry."

"Prescription drugs represent an ever increasing percentage of the overall expenses within our health plans," said Larry Georgopoulos, Director of Pharmacy Services at Presbyterian Health Plan. "We wanted to leverage informedRx's pharmacy netw
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SOURCE SXC Health Solutions Corp.
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