Systems Xcellence Inc. Acquires Certain Assets From Pharmaceutical Horizons

MILTON, ON, Oct. 26 /PRNewswire-FirstCall/ - Systems Xcellence Inc., ("SXC" or the "Company") announces that through its wholly-owned subsidiary, SXC Health Solutions, Inc., the Company has enhanced its pharmaceutical manufacturer rebate offering by having acquired certain assets of Worthington, Ohio-based Pharmaceutical Horizons ("PHI").

SXC has acquired the intellectual property and selected personnel that support PHI's pharmaceutical manufacturer contracts and rebate processing services. Privately held, Pharmaceutical Horizons will continue to operate its clinical consulting business, provide disease management and pharmaceutical care programs, and support formulary activities of clients through a value- added reseller relationship with SXC Health Solutions, Inc.

In connection with the transaction, David Uldricks, J.D., former Director of Operations at Pharmaceutical Horizons joins SXC Health Solutions as Director, Industry Relations. In his new role at SXC, Mr. Uldricks will be focused on continuing to develop the Company's rebate program offering and on building its transparent suite of a la carte PBM services branded as InformedRx.

"Integrating these assets into our rebate service offering immediately enhances the InformedRx brand and brings additional service value to our current customers," said Hitesh Patel, Vice President of Clinical Services at SXC Health Solutions.

Allan Zaenger, President of Pharmaceutical Horizons stated, "This transaction will enhance and expand the manufacturer contracting and rebate processing service components of our client's formulary programs."

The acquisition was completed as a cash transaction effective September 30, 2005 and other terms of the transaction were not disclosed.

About Pharmaceutical Horizons, Inc.

Pharmaceutical Horizons provides consulting services and custom programs in drug cost and use management for health plans. Founded in 1989 by Allan Zaenger, R.Ph., MS., Pharmaceutical Horizons provides clients: plan design consultation and evaluation; clinical services support, and disease management services.

About Systems Xcellence Inc.

Systems Xcellence Inc. (SXC) is headquartered in Milton, Ontario with offices and processing centres in Lombard, Illinois, Warminster, Pennsylvania, Scottsdale, Arizona and Victoria, British Columbia. Through its SXC Health Solutions, Inc subsidiary, SXC is a leading provider of healthcare information technology solutions and services to the U.S. healthcare benefits management industry. The company's product offerings and solutions combine a wide range of software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as pharmacy benefit managers, managed care organizations, independent, chain and mail-order pharmacies and other healthcare intermediaries. SXC can be found on the Internet at www.sxc.com.

This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about the Company's business are more fully discussed in the Company's Annual Information Form.

Systems Xcellence

CONTACT: Dave Mason, Investor Relations, The Equicom Group Inc., (416)815-0700 ext. 237, dmason@equicomgroup.com; Irwin Studen, Chief FinancialOfficer, Systems Xcellence Inc., Tel: (905) 876-4741, investors@sxc.com

Back to news