Catalyst Rx Selected by the University of Virginia to Provide PBM Services
November 01 2010 - 9:00AM
Business Wire
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of
Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced today
that the Company has entered into a five-year contract with the
University of Virginia to provide PBM services for approximately
28,000 enrollees. The contract will become effective January 1,
2011, and includes two, five-year optional renewal periods.
“Catalyst is proud that our commitment to transparency and the
delivery of flexible, customized programs has secured a new
relationship with the University of Virginia,” said David T. Blair,
Chief Executive Officer of Catalyst Health Solutions. “We look
forward to delivering innovative programs and services to assist
the University of Virginia’s members in getting the most value from
their pharmacy benefit."
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 University of Virginia
(www.virginia.edu.com)
The University of Virginia is distinctive among institutions of
higher education. Founded by Thomas Jefferson in 1819, the
University sustains the ideal of developing, through education,
leaders who are well-prepared to help shape the future of the
nation. The University is public, while nourished by the strong
support of its alumni. It is also selective; the students who come
to the University of Virginia have been chosen because they show
the exceptional promise Jefferson envisioned.
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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