- 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.
Jeff Park, Chief Financial Officer, SXC Health Solutions Corp., Tel: (630)
577-3206, investors@sxc.com; Dave Mason, Investor Relations - Canada, The
Equicom Group Inc., (416) 815-0700 ext. 237, dmason@equicomgroup.com; Susan
Noonan, Investor Relations - U.S., The SAN Group, LLC, (212) 966-3650,
susan@sanoonan.com
