- Agreement strengthens SXC's lead in the Long-Term Care market -
LISLE, IL, Jan. 5 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and pharmacy benefit management services, announces that its Health Care Information Technology business group has been awarded a three-year, multi-million dollar contract to provide its Resident Care Management (RCM) offering of technology and services to PharMerica Corporation (NYSE: PMC) of Louisville, Kentucky.
Under terms of the agreement, PharMerica will receive SXC's industry-leading Long-Term Care (LTC) claims adjudication and RCM consulting services. PharMerica operates more than 100 institutional pharmacies throughout the U.S., and serves approximately 326,000 patient beds in LTC facilities.
"We are pleased to add another premier client such as PharMerica to our LTC business," said Mark Thierer, President and CEO of SXC. "The LTC market is beginning to invest more heavily in advanced managed pharmacy services creating a significant market opportunity for SXC. Our sophisticated technology, broad clinical expertise and flexible service-delivery model make us an innovative player that is well positioned to capture a significant share of this developing market."
"SXC's RCM products are key elements in PharMerica's plan to improve the quality of our pharmacy services and deliver proven cost management solutions," said Greg Weishar, CEO at PharMerica. "The flexibility of SXC's technology and our ability to easily integrate RCM were critical factors in choosing SXC."
About PharMerica Corporation
PharMerica Corporation is an industry leading institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to Long Term Care Providers and institutionalized long term care patients. Headquartered in Louisville, Kentucky, PharMerica operates more than 100 institutional pharmacies that serve over 326,000 patients as of September 30, 2008. PharMerica has approximately 6,200 employees nationwide. Additional information can be found at www.pharmerica.com.
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, provincial, and, state and local governments, pharmacy benefit managers, 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 www.sxc.com.
|SOURCE SXC Health Solutions Corp.|
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