LISLE, IL, June 5 /PRNewswire-FirstCall/ - SXC Health Solutions Corp.("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider ofpharmacy benefits management services, announced an agreement for its HealthCare Information Technology (HCIT) group to provide ongoing business andtechnology services to Prescription Solutions, Inc, a UnitedHealth Groupcompany. The contract has a provision for a three-year base period that wouldgenerate approximately $2.5 million in revenue over each year of theagreement, and contains provisions to potentially extend the agreement beyondthe three-year term.
SXC has provided technology support and services to PrescriptionSolutions, Inc. since 1993. Under the terms of the new agreement, SXC willcontinue to provide application maintenance, development support, andcollaborative enhancements for the pharmacy benefit systems licensed underseparate agreements. This agreement extends SXC's support to new applications- including extensive Medicare Part D product support - as well as additionalbusiness implementations over the course of the agreement.
"This agreement strengthens and expands our valued and long-standingrelationship with Prescription Solutions," said Mike Bennof, Executive VicePresident of Health Care Information Technology at SXC. "Our goal is to be theindustry's leading provider of tools, technology and services to help ourcustomers better manage pharmacy programs, and in turn, to reduce the cost ofdrug delivery and enhance the healthcare experience for their plan members. Weare very pleased to be partnered with a market leader like PrescriptionSolutions, and to help them achieve such operational objectives."
About SXC Health Solutions Corp.
SXC Health Solutions Corp. is a leading provider of pharmacy benefitsmanagement (PBM) services and Health Care Information Technology (HCIT)solutions to the healthcare benefits management industry. The Company'sproduct offerings and solutions combine a wide range of software applications,application service provider (ASP) processing services and professionalservices, designed for many of the largest organizations in the pharmaceuticalsupply chain, such as Federal, provincial, and, state and local governments,pharmacy benefit managers, managed care organizations, retail pharmacy chainsand other healthcare intermediaries. SXC is headquartered in Lisle, Illinoiswith 13 locations in the US and Canada. For more information please visitwww.sxc.com.
SOURCE SXC Health Solutions, Inc.