LISLE, IL, Sept. 12 /PRNewswire-FirstCall/ - SXC Health Solutions Corp. ("SXC") (NASDAQ: SXCI, TSX: SXC), a leading provider of pharmacy benefits management ("PBM") services and healthcare IT solutions to the healthcare benefits management industry, today announced two contracts for its HealthCare Information Technology ("HCIT") Group in support of the State of South Dakota (the "State").
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The first is an agreement between SXC's HCIT group and Client Network Services, Inc, ("CNSI") for approximately $10 million over three years. Under terms of the agreement, SXC will provide software licenses and implementation services to the South Dakota Department of Social Services for two years during the deployment of the State's new Medicaid Management Information System ("MMIS"), followed by one year of software maintenance services. SXC will supply the State with PBM technology solutions to support pharmacy claims processing, Medicaid rebate invoicing and sophisticated pharmacy claims Prior Authorization workflow and processing.
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"We are pleased to expand our presence in the public sector with the State of South Dakota," said Mark Thierer, President and CEO of SXC. "Our strategy is to provide a variety of healthcare payor organizations in the pharmaceutical supply chain with the technology and pharmacy benefit services to contain the cost of pharmaceuticals and improve patient care. The public sector has emerged as an important growth market for SXC as our broad suite of services and flexible deployment capabilities are ideally suited to all types of State Medicaid programs."
"We selected SXC as our pharmacy partner due to its experience and success in deploying Medicaid pharmacy benefit systems," said Jeff Gottlieb, VP of HHS Account Management, CNSI. "We look forward to working with SXC in helping the State deliver better quality healthcare to its Medicaid beneficiaries."
"We are pleased to play a key role in updating the State's MMIS Drug Claims processing solution," said Mike Bennof, EVP HCIT for SXC. "The State will have access to the most modern technology available for administering their Medicaid Drug Benefit program."
The second contract is between SXC's HCIT group and the State of South Dakota. Under terms of the three-year contract, SXC will provide the State with State Maximum Allowable Cost ("SMAC") list design, development and management in order to support their Medicaid pharmacy program.
These contracts represent another opportunity for SXC to provide PBM technology solutions to a State Medicaid program. With this announcement, SXC is now supporting Medicaid programs in five States: South Dakota, Vermont, Georgia, Tennessee, and Washington.
About South Dakota Medicaid Program
The South Dakota Medicaid program serves approximately 110,000 low-income children, pregnant women and disabled South Dakotans, with an annual budget of $700 million.
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 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 Federal, provincial, and, 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 www.sxc.com.
- Company to provide industry-leading PBM technology solutions and PBM services for the State's Medicaid program -
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