Content about SXC Health Solutions

April 16, 2013
Q&A: PBM evolution

DSN spoke at length with two Catamaran executives — Albert Thigpen, SVP pharmacy operations and industry relations, and Sumit Dutta, SVP and chief medical officer — about the PBM’s new approach to managed pharmacy care and the changes driving that strategy.

The health and pharmacy marketplace is undergoing rapid and fundamental transformation. To navigate profitably in tomorrow’s complex and shifting healthcare system, the pharmacy benefit management industry — along with the pharmacies and health plan payers allied with PBMs — are going to have to change and adapt as well.

October 1, 2012
Catamaran launches new specialty pharmacy brand

A pharmacy benefit manager has launched a new specialty pharmacy offering.

LISLE, Ill. — A pharmacy benefit manager has launched a new specialty pharmacy offering.

Catamaran announced Monday the introduction of BriovaRx, which it said would mark "the beginning of a new day in the specialty sector, delivering personalized, holistic care to patients with complex and chronic conditions to improve health outcomes."

July 16, 2012
Keep an eye out for Catamaran

We didn’t include this story in this week’s edition of the Fix because we thought SXC and Catalyst picked a really cool name (it’s OK), or even because we think CEO Mark Thierer is one of the brightest executives in the business (he is). It’s because Catamaran is a company to watch.

WHAT IT MEANS AND WHY IT'S IMPORTANT — We didn’t include this story in this week’s edition of the Fix because we thought SXC and Catalyst picked a really cool name (it’s OK), or even because we think CEO Mark Thierer is one of the brightest executives in the business (he is). It’s because Catamaran is a company to watch.

(THE NEWS: SXC Health Solutions changes name to Catamaran. For the full story, click here)

July 11, 2012
SXC Health Solutions changes name to Catamaran

Pharmacy benefit manager SXC Health Solutions has picked a new name following its recent merger with another PBM, the company said.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions has picked a new name following its recent merger with another PBM, the company said.

SXC, which recently merged with Catalyst Health Solutions to become the country's fourth-largest PBM by prescription volume, said it has changed its name to Catamaran. The company's shares will be traded under the ticker CTRX on the Nasdaq and as CCT on the Toronto Stock Exchange starting Wednesday. The company said the new name would reflect its "nimble, flexible" approach to serving clients.

June 25, 2012
SXC Health Solutions chairman awarded 2012 Ernst & Young Entrepreneur Of The Year for Midwest

The chairman of SXC Health Solutions has been honored with an award that recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.

LISLE, Ill. — The chairman of SXC Health Solutions has been honored with an award that recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.

Mark Thierer was the recipient of the 2012 Ernst & Young Entrepreneur Of The Year award in the healthcare category in the Midwest. Thierer, who was selected by an independent panel of judges, was presented the award at a special gala on June 21 at the Hilton Chicago Hotel.

June 19, 2012
SXC Health Solutions earns specialty Rx accreditation from URAC

SXC Health Solutions has been awarded specialty pharmacy accreditation from URAC.

LISLE, Ill. — SXC Health Solutions has been awarded specialty pharmacy accreditation from URAC.

URAC said that SXC "demonstrated a commitment to quality health care" by applying for and receiving specialty pharmacy accreditation.

April 19, 2012
SXC, Catalyst announce merger as PBM market continues to consolidate

SXC Health Solutions and Catalyst Health Solutions on Wednesday announced a merger agreement under which SXC and Catalyst will combine in a cash and stock transaction valued at approximately $4.4 billion.

LISLE, Ill. — SXC Health Solutions and Catalyst Health Solutions on Wednesday announced a merger agreement under which SXC and Catalyst will combine in a cash and stock transaction valued at approximately $4.4 billion. The announcement comes some three weeks after Express Scripts and Medco consummated their $29.1 billion merger.

November 17, 2011
SXC buys HealthTrans for $250 million

Pharmacy benefit manager SXC Health Solutions is buying PBM service company HealthTrans for $250 million, SXC said Thursday.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions is buying PBM service company HealthTrans for $250 million, SXC said Thursday.

Based in Colorado with additional offices in Illinois, Florida and Georgia, HealthTrans provides PBM and healthcare information technology services to about 260 clients, and its PBM business includes a suite of PBM offerings, such as nationwide retail network, formulary and rebate management, Medicare Part D services and mail order.

August 8, 2011
ESI-Medco not a done deal

So, who’s afraid of a bigger, badder Express Scripts-Medco? Apparently not its competitors.

So, who’s afraid of a bigger, badder Express Scripts-Medco?  Apparently not its competitors.

CVS Caremark president and CEO Larry Merlo isn’t worried about a combined ESI-Medco. “Assuming that the proposed transaction is completed, I am more confident than ever that CVS Caremark can and will effectively compete in this vibrant industry,” Merlo said to open his company’s Aug. 4 earnings call with analysts.

April 12, 2011
SXC to acquire MedMetrics

Pharmacy benefit manager SXC Health Solutions will acquire “substantially all” assets of Worcester, Mass.-based PBM MedMetrics Health Partners, SXC said Tuesday.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions will acquire “substantially all” assets of Worcester, Mass.-based PBM MedMetrics Health Partners, SXC said Tuesday.

The companies expect the acquisition to be completed in second quarter 2011. Financial terms were not disclosed. MedMetrics manages about $200 million in annual drug spend.

March 15, 2011
SXC's CEO named chairman of the board

Pharmacy benefit manager SXC Health Solutions has appointed president and CEO Mark Thierer as chairman of the board, the company said.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions has appointed president and CEO Mark Thierer as chairman of the board, the company said.

Thierer previously was a director at the company and replaces Terrence Burke, who will retire from the company this year. Board compensation committee chairman Steve Cosler has been appointed lead independent director for the company.

February 25, 2011
MedfusionRx acquisition boosts SXC's 2010 sales

Pharmacy benefit manager SXC Health Solutions had revenues of $1.95 billion in 2010, compared with $1.44 billion in 2009, according to an earnings report released Thursday.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions had revenues of $1.95 billion in 2010, compared with $1.44 billion in 2009, according to an earnings report released Thursday.

Profit for the year was $64.7 million, compared with $46.1 million in 2009.

December 29, 2010
SXC-MedfusionRx acquisition officially closed

SXC Health Solutions has completed its acquisition of independent specialty pharmacy provider MedfusionRx.

LISLE, Ill. — SXC Health Solutions announced Wednesday that it had completed its acquisition of independent specialty pharmacy provider MedfusionRx in a deal worth $100 million in cash, with an additional $5.5 million subject to the achievement of certain performance targets in fiscal year 2012.

The waiting period under the Hart-Scott-Rodino Act expired Dec. 24.

December 3, 2010
SXC Health Solutions to acquire MedfusionRx

Pharmacy benefit manager SXC Health Solutions will acquire Birmingham, Ala.-based specialty pharmacy provider MedfusionRx for $100 million, SXC said Thursday.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions will acquire Birmingham, Ala.-based specialty pharmacy provider MedfusionRx for $100 million, SXC said Thursday.

SXC also may pay an additional $5.5 million if unspecified performance targets are met through fiscal year 2012, the company said. MedfusionRx operates pharmacies in Alabama, Mississippi, Louisiana, Tennessee, West Virginia and Kansas, and serves more than 9,000 patients.