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:3/24/2017)... , ... March 24, 2017 , ... ... $100,000 for its innovative EcoQube Frame vertical micro-veggies garden on Kickstarter . ... for the product – with nearly 2,000 consumers (and counting) already backing the ...
(Date:3/24/2017)... ... March 24, 2017 , ... Viewers who like to educate ... historical facts, cultural practices, goods, services, and societal issues tend to appreciate and love ... the popular practice of utilizing running events for causes around the world. ...
(Date:3/24/2017)... (PRWEB) , ... March 24, 2017 , ... “End Time ... the salient events will interrelate. “End Time GPS” is the creation of published ... explosives expert while working on military munitions and space-vehicle projects. Now, at age ninety-one, ...
(Date:3/23/2017)... ... March 23, 2017 , ... A recent report from the National ... preparation programs. The NCTQ report suggests, based on a review of GPA and SAT/ACT ... teacher quality in the U.S. It argues that this higher bar should be set ...
(Date:3/23/2017)... ... , ... The IoT (Internet of Things) is revolutionizing the way the world ... businesses and individual consumers alike. Laboratories can maximize their profit margin by increasing ... $4 trillion to $11 trillion dollars by the year 2025. McKinsey expects the IoT ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... INDIANAPOLIS , March 23, 2017  Eli Lilly ... William Sansum Diabetes Center have established a research collaboration ... diabetes through enhanced research, education and care. ... bears a disproportionate weight on Latino families in ... Kerr , M.D., FRCPE, director of Innovation and Research ...
(Date:3/23/2017)... LONDON , March 23, 2017 ... latest Pharmaceutical and Healthcare disease pipeline guide Primary ... overview of the Primary Hyperoxaluria (Genito Urinary System ... is a rare condition characterized by recurrent kidney ... of a substance called oxalate. Symptoms include blood ...
(Date:3/23/2017)... Texas , March 23, 2017  Digital ... www.digitalpharmacist.com ), a rapidly growing digital health ... a mobile app that allows patients to manage ... multi-store locations such as Denver Health Pharmacy, USave ... The acquisition helps Digital Pharmacist accelerate its product ...
Breaking Medicine Technology: