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news.SXC Health Solutions' (SXC) informedRx pharmacy benefit management (PBM) unit has received a three-year contract valued at $240m per year with a Health Plan, based on the US east coast.
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SXC said that the contract is effective 1 April 2011.
As per the terms of the agreement, SXC will provide a flexible and customised suite of PBM services, including Medicare Part D compliance services, to help the Health Plan manage its pharmacy program and overall drug spend.
SXC president and CEO Mark Thierer said that their ability to customise a PBM solution for clients that delivers cost containment, improved healthcare outcomes and the level of control they require was key to earning this business.
"This contract expands our presence on the east coast and further highlights the value of our expertise in the management of commercial and Medicare Part D PBM services," Thierer said.
SXC is a provider of pharmacy benefit management services and Healthcare Information Technology solutions to the healthcare benefits management industry.