Catalyst Rx to Enter Into Negotiations for the State of Mississippi PBM Contract
May 28 2010 - 8:30AM
Business Wire
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of
Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced that it
will begin contraction negotiations with the State of Mississippi
State and School Employees’ Health Plan following the State’s
competitive bid process. Upon successful completion of
negotiations, the new contract will be effective January 1, 2011,
and will cover approximately 190,000 plan participants.
“Catalyst Rx has enjoyed a strong collaboration with the State
of Mississippi over the past four years, and we are grateful for
the confidence they’ve shown in us,” David T. Blair, Chief
Executive Officer of Catalyst Health Solutions. “Our primary goal
is to continue delivering transparent and locally-focused solutions
to the State, and we thank them for the opportunity to do so.”
Catalyst Rx maintains a local Center of Excellence for State of
Mississippi State and School Employees’ Health Plan. This service
model allows Catalyst Rx to assist the State in managing drug
trends through direct patient and prescriber interventions for the
greatest care- and cost-effective results.
About Catalyst Health Solutions, Inc.
(www.chsi.com)
Catalyst Health Solutions, Inc. is built on strong, innovative
principles in the management of prescription drug benefits and
provides an unbiased, client-centered philosophy resulting in
industry-leading client retention rates. The Company's subsidiaries
include Catalyst Rx, a full-service pharmacy benefit manager
serving more than 6 million lives in the United States and Puerto
Rico; HospiScript Services, LLC, one of the largest providers of
pharmacy benefit management services to the hospice industry; and
Immediate Pharmaceutical Services, Inc., a fully-integrated
prescription mail service facility in Avon Lake, Ohio. The
Company's clients include self-insured employers including state
and local governments, managed care organizations, unions,
hospices, third-party administrators and individuals.
This press release may contain “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks and uncertainties that
might materially affect our results, particularly those risks
referred to in our Annual Report on Form 10-K for the year ended
December 31, 2009 under “Item 1A. Risk Factors.” Readers are urged
to carefully review and consider the various disclosures made in
our Annual Report on Form 10-K and our other filings with the
Securities and Exchange Commission that attempt to advise
interested parties of the risks and uncertainties that may affect
our business. Catalyst Health Solutions, Inc. does not undertake
any obligation to update forward-looking statements, whether as a
result of new information, future events, or other
developments.
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