Catalyst Rx Announces PBM Award by Ford Motor Company
October 04 2010 - 9:23AM
Business Wire
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of
Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced today the
award of a PBM contract by Ford Motor Company for its salaried
employees and non-Medicare retirees. The new contract, effective
January 1, 2011, covers approximately 40,000 lives.
“We believe Ford’s selection of Catalyst Rx is a reflection of
our continued success in providing transparent, lowest net cost
solutions," stated David T. Blair, Chief Executive Officer of
Catalyst Health Solutions. “We’re committed to providing
outstanding results for Ford and we thank them for the opportunity
to manage their pharmacy benefits.”
“As part of our ongoing efforts to continually improve the value
of our offerings, not only to our customers, but also to our
employees, retirees, and their dependents, we considered options to
enhance our pharmacy benefits. We elected Catalyst Rx based on its
flexible, fully aligned business model,” stated Janet Kokenakes,
Director of Health Care from Ford Motor Company. “We’re confident
this new partnership will deliver innovative solutions that will
maximize quality, value and service for our team.”
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 7 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.
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in
Dearborn, Mich., manufactures or distributes automobiles across six
continents. With about 159,000 employees and about 70 plants
worldwide, the company’s automotive brands include Ford, Lincoln
and Mercury, production of which has been announced by the company
to be ending in the fourth quarter of 2010. The company provides
financial services through Ford Motor Credit Company. For more
information regarding Ford’s products, please visit
www.ford.com.
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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