Navigation Links
SXC Health Solutions announces PBM services agreement with Health Plan of San Mateo
Date:11/3/2008


- Five-year agreement expected to generate approximately $50 million in

annual revenue for SXC's PBM division, InformedRx -

LISLE, IL, Nov. 3 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), announces that its pharmacy benefit management (PBM) division, informedRx, has signed a five-year agreement with the Health Plan of San Mateo (HPSM) valued at more than $50 million annually. Based in San Francisco, California, HPSM provides health care benefits to 59,000 members.

"This is a great win for SXC as it expands our footprint in California and in the managed Medicaid market," said Mark Thierer, President and CEO of SXC. "Our recent acquisition of NMHC provided us with several new service offerings, including specialty pharmacy management, that were key to our ability to secure this important customer. This is another example of how we can deploy our technology and services to address the unique needs of health care organizations that manage prescription drug benefit programs."

Under the terms of the agreement, SXC will provide its full suite of informedRx PBM services along with specialty drug management and Medicare Part D services beginning January 1, 2009. SXC expects to generate approximately $50 million annually in revenue during the five-year term of the contract, recorded on a gross dollar basis.

"SXC's PBM services come with full transparency that will enable us to track and manage our prescription drug program much more closely," said Maya Altman, Executive Director of HPSM. "Armed with this information and SXC's innovative technology platform, we can take control of our benefit programs to ensure that they are cost effective and delivering a superior level of care to our members."

About Health Plan of San Mateo

The Health Plan of San Mateo is a managed care health plan that provides health care benefits to San Mateo County's underserved residents. Current membership is approximately 59,000. It is a County Organized Health System.

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 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, managed care organizations, 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 http://www.sxc.com.


'/>"/>
SOURCE SXC Health Solutions Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Penn study finds pro-death proteins required to regulate healthy immune function
2. UCLA researchers identify markers that may predict diabetes in still-healthy people
3. Air pollution linked to cardiovascular risk indices in healthy young adults
4. More proof needed of safety and quality of electronic personal health records
5. Health care incentive model offers collaborative approach
6. Loneliness is bad for your health
7. Mailman School of Public Health study examines link between racial discrimination and substance use
8. Green Tea May Brew Up Healthier Skin
9. For Health Info, Women Often Turn to the Web
10. Record Number of Americans Lack Health Insurance
11. U.S. Research Funding Continues to Flatten as U.S. Health Costs Climb - in August 31 Science
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/20/2017)... ... September 20, 2017 , ... ... methodology and industry-leading compliance software, The Guard®, has helped another long-time client pass ... HIPAA audit and properly satisfy the law. , Thanks to the help of ...
(Date:9/20/2017)... ... September 20, 2017 , ... Five consumer packaged goods (CPG) ... impact in 27 different categories. Nopavera Plus was named to the short ... announced at SupplySide West 2017 during presentations at SupplySide Central on Sept. 27 and ...
(Date:9/20/2017)... ... September 20, 2017 , ... Recognising that in today’s busy ... Greeny delivers positive results in just three weeks. Setting the groundwork for a ... Fitting seamlessly into hectic work and family schedules, participants can lose up to ...
(Date:9/20/2017)... Texas (PRWEB) , ... September 20, 2017 , ... Houston, ... entire team took Friday, September 8, and Monday, September 11, off work and rolled ... Second Baptist Church before heading to local homes to start the process of rebuilding. ...
(Date:9/20/2017)... ... September 20, 2017 , ... “The Financial Favor of God; Second Edition”: ... God; Second Edition” is the creation of published author, Brooks Rathell. , “We typically ... talk to you about the financial favor of God. Not only does it exist, ...
Breaking Medicine News(10 mins):
(Date:9/6/2017)... -- Eli Lilly and Company (NYSE: LLY ... galcanezumab and lasmiditan, two investigational treatments for migraine, at ... taking place Sept. 7-10 in Vancouver ... data from an open-label study evaluating the safety and ... 240 mg) for the prevention of migraine. Galcanezumab is ...
(Date:9/5/2017)... -- Oramed Pharmaceuticals Inc. (NASDAQ: ORMP ) ... focused on the development of oral drug delivery systems, ... with the U.S. Food and Drug Administration (FDA) regarding ... At the meeting, the FDA ... of ORMD-0801, would be a Biologics License Application (BLA).  ...
(Date:8/29/2017)... 29, 2017 ivWatch, LLC, the leading provider of continuous ... it has been awarded an Innovative Technology contract from Vizient, Inc., ... ... aid in the early detection of peripheral IV infiltration and extravasation ... The Innovative Technology contract was awarded ...
Breaking Medicine Technology: