LISLE, IL, May 4 /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 it has expanded the contractual relationship with HealthSpring to include the provision of services to HealthSpring's newly acquired Bravo Health, Inc. subsidiaries ("Bravo Health") effective January 1, 2012. Based in Baltimore, Maryland, Bravo Health is a wholly-owned subsidiary of HealthSpring Inc. and generates approximately $1.0 billion in annual drug spend. Bravo Health offers Medicare Advantage plans in five states and the District of Columbia, as well as standalone Part D Prescription Drug plans in 43 states. Through these plans, Bravo Health provides pharmacy benefits to over 500,000 members. SXC will provide to Bravo Health the full complement of pharmacy benefit management services including the immediate implementation of specialty pharmacy services.
"SXC continues to demonstrate its ongoing value as a partner to HealthSpring in supporting the administration of our Medicare Part D products," said Mike Mirt, President of HealthSpring Inc.
"The inclusion of Bravo Health in the HealthSpring relationship is another strategic addition for SXC. It reflects our ability to scale and tailor our offerings to meet the needs of some of the largest healthcare organizations in the country and it expands our presence in the Medicare marketplace," said Mark Thierer, Chairman and CEO of SXC. "Leveraging our technology focus and leadership, we will continue to collaborate with HealthSpring to use their pharmacy data to drive enhanced plan design, membership service and cost containment."
About HealthSpring
HealthSpring is based in Nashville, Tennessee, and is one of the
country's largest Medicare Advantage coordinated care plans.
HealthSpring currently owns and operates Medicare Advantage plans in
Alabama, Delaware, Florida, Georgia, Illinois, Maryland, Mississippi,
New Jersey, Pennsylvania, Tennessee, Texas, and Washington, D.C. and
also offers a national stand-alone Medicare prescription drug plan.
For more information, visit www.healthspring.com. Media information is available at HealthSpring's press site: http://press.healthspring.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 multiple locations in the US and Canada. For more
information please visit www.sxc.com.
SOURCE SXC Health Solutions Corp.
