Catalyst Rx Announces PBM Award by the Upper Peninsula Health Plan
October 26 2010 - 9:00AM
Business Wire
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of
Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced today the
award of a three-year PBM contract by the Upper Peninsula Health
Plan, a Medicaid Health Care Provider serving the Upper Michigan
Counties. The contract covers approximately 38,000 members.
“After a competitive bid process, Catalyst is proud to have been
selected by the Upper Peninsula Health Plan to manage its PBM
needs,” said David T. Blair, Chief Executive Officer of Catalyst
Health Solutions. “We thank them for the opportunity and are
committed to providing formulary management guidance, exceptional
utilization management programs and expert clinical consulting
services."
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 the Upper Peninsula Health Plan
(www.uphp.com)
The Upper Peninsula Health Plan (UPHP) is a consumer-centered
provider service organization of physicians, hospitals, clinics,
and ancillary providers in Michigan’s Upper Peninsula. It provides
managed care and other services to thousands of Upper Peninsula
residents. Others get care from the UPHP network via commercial
insurance—often offered by their employers. The health plan serves
as the hub for all commercial managed-care and preferred provider
organization (PPO) activity in the Upper Peninsula. The company’s
success has provided employment, wages, and benefits for a talented
segment of the Marquette County community. The staff contributes
time and resources to many regional and national charitable events
and organizations.
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, and in our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2010, 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, our Forms 10-Q, 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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