SXC Health Solutions signs PBM contract with HealthSpring
finance.yahoo.com
March 4, 2010, 6:00 am EST
LISLE, IL, March 4 /PRNewswire-FirstCall/ - SXC Health Solutions Corp.(NASDAQ: SXCI, TSX: SXC), a leading provider of pharmacy benefit management (PBM) products and services, today announced that its informedRx PBM unit has been awarded a contract with HealthSpring Inc. having an initial term of three years with provisions for two additional one-year extensions. HealthSpring, based in Nashville, Tennessee, offers Medicare Advantage plans across seven states to over 193,000 members and a national stand-alone Medicare prescription drug plan to 387,000 members. SXC will provide HealthSpring with its full suite of PBM services which include mail order pharmacy, specialty pharmacy, retail network management, Medicare compliance services, and patient care clinical services, managing an anticipated drug spend of approximately $1 billion annually. HealthSpring will deploy mail and specialty pharmacy services beginning in 2010, with implementation of the full PBM services on January 1, 2011. |
