SXC HEALTH SOLUTIONS ANNOUNCES CONTRACT WITH HEALTHPLUS OF MICHIGAN
PBM technology engine drives win
LISLE, IL, May 16 /PRNewswire/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI) (TSX: SXC), a leading provider of technology and pharmacy benefit management ("PBM") services, announces that its HCIT unit has been awarded a three year contract from HealthPlus of Michigan, a not-for-profit Health Maintenance Organization which together with its subsidiary corporations serves 215,000 members throughout Michigan.
Under the terms of the HealthPlus agreement, SXC is providing a flexible and customized suite of PBM services, including claims adjudication, rebates and clinical support to HealthPlus' commercial members effective June 1, 2011, expanding to include Medicare Part D services effective January 1, 2012.
"Our flexible service offering complements the efforts of HealthPlus to deliver on their priorities of wellness, retention and compliance. As our second new health plan contract in Michigan this year, it builds our momentum as we establish a strong base in the region," said Mark Thierer, Chairman, President and CEO of SXC. "Flexibility and customization were the keys to the win, and our robust PBM technology engine is what makes it all work."
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 multiple locations in the US and Canada. For more information please visit www.sxc.com.
About HealthPlus HealthPlus of Michigan is a licensed not-for-profit Health Maintenance Organization which together with its subsidiary corporations provides healthcare coverage to more than 215,000 members. HealthPlus arranges for the delivery of healthcare through a variety of commercial products and government programs: Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Point of Service (POS), Medicare Advantage and Medicaid programs. For more information visit www.healthplus.org.
SOURCE SXC Health Solutions Corp.