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SXC Health Solutions announces three-year $35 million PBM contract with the State of Tennessee
Date:6/23/2008

LISLE, IL, June 23 /PRNewswire-FirstCall/ - SXC Health Solutions, Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and pharmacy benefits management services, announces that its HealthCare Information Technology (HCIT) Group has been awarded a three-year $35 million Pharmacy Benefits Manager (PBM) contract with the State of Tennessee's, Bureau of TennCare ("TennCare").

Under terms of the proposed agreement, SXC will administer TennCare's pharmacy claims system, an online system that processes all Medicaid pharmacy transactions. SXC will also help administer TennCare's Preferred Drug List, manage their pharmacy network, provide pharmacists with weekly payments for their services, and generate weekly encounter data and reconciliation services for TennCare.

"We are very pleased to establish a relationship with TennCare and to be part of their efforts to deliver a high quality and cost effective healthcare experience to their plan recipients," said Mark Thierer, President and COO of SXC. "We continue to expand our footprint in the public sector where our fee-for-service business model, point-of-sale pharmacy claims adjudication and rebate systems, and Medicaid domain expertise is ideally suited to deliver the flexibility and transparency that State Medicaid agencies and other public sector organizations require."

"The contract resulting from this RFP process represents another step forward in appropriately aligning the incentives in our program," said TennCare Pharmacy Director David Beshara. "SXC has the tools, technology and expertise that will give us the ability to develop unique benefit programs, and to manage program costs without compromising our high service standards."


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SOURCE SXC Health Solutions Inc.
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