Systems Xcellence Inc. To Provide Subcontracted Technology Services And Support To The British Columbia PharmaNet System
Published: May 18, 2006
MILTON, ON, May 18 /PRNewswire-FirstCall/ - Systems Xcellence Inc. ("SXC") , a leading provider of healthcare information technology solutions throughout the pharmaceutical supply chain, announces that it has signed a nine-year, $14.0 million agreement to continue providing information technology systems support for the PharmaNet system in British Columbia. SXC will perform its responsibilities as a subcontractor to MAXIMUS BC, a subsidiary of MAXIMUS, Inc. , one of North America's leading providers of government services. All figures are in U.S. dollars.
SXC has provided technology support and services to PharmaNet since it began operation in 1995. Under terms of the new agreement, SXC will continue to provide applications maintenance, development, and enhancements for the PharmaNet system.
"We are pleased to continue providing support and services for the Ministry of Health's PharmaNet system to help ensure British Columbians receive the best level of service possible," said Mike Bennof, Sr. Vice President of SXC.
"MAXIMUS BC looks forward to working with SXC in supporting this vital component of Health Insurance BC", said Duff Lang, President, MAXIMUS BC.
PharmaNet is a secure computer network that supports drug dispensing, drug monitoring and claims processing for the PharmaCare program. PharmaCare provides financial support to qualified residents of B.C. to assist in the purchase of prescription drugs and select medical supplies. The PharmaNet system, which is connected to all community pharmacies in the province, provides pharmacists with medication history and patient information, and drug use checking such as potential drug interactions. PharmaNet also provides claims adjudication and payment reconciliation to pharmacies from PharmaCare.
MAXIMUS is one of North America's leading government services companies devoted to providing program management, consulting and information technology services. The Company has more than 5,500 employees located in more than 280 offices in the United States, Canada and Australia. In 1999, 2001, 2002, 2003, and 2004 MAXIMUS was selected by Forbes Magazine as one of the Best 200 Small Companies in America for that year. MAXIMUS was selected by Business Week Magazine as one of the 100 Best Hot Growth Small Companies in 1999, 2000, 2001, and 2002. Additionally, MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.
MAXIMUS BC, a subsidiary of MAXIMUS Canada and MAXIMUS, won a 10 year contract, $324 million dollar contract with the Ministry of Health to administer Health Insurance BC programs including the Medical Services Plan and PharmaCare. Health Insurance BC administers health benefits services including responding to public enquiries, registering clients, and processing medical and pharmaceutical claims from health professionals.
About Systems Xcellence
Systems Xcellence (SXC) is a leading provider of healthcare information technology solutions and services to the 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 organisations in the pharmaceutical supply chain, such as Federal, provincial, and, state and local governments, pharmacy benefit managers, managed care organizations, retail pharmacy chains and other healthcare intermediaries. SXC is headquartered in Milton, Ontario with offices and processing centres in Lombard, Illinois, Scottsdale, Arizona, Warminster, Pennsylvania and Victoria, British Columbia. SXC can be found on the Internet at www.sxc.com.
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual financial results, performance, or achievements of SXC to be materially different from our estimated future results, performance or achievements expressed or implied by those forward-looking statements. Numerous factors could cause actual results to differ materially from those in the forward- looking statements, including without limitation, our ability to manage our growth from acquisitions; security breaches and/or product failure of our systems; our ability to penetrate new markets; the loss of key customers; the loss of key personnel; the success of our competition; our ability to develop and introduce new systems and products and enhance existing systems and products; our ability to successfully complete fixed price contracts within our quoted price; prevailing industry conditions; and the existence of class action lawsuits or other litigation including product liability claims. This list is not exhaustive of the factors that may affect any of the SXC's forward- looking statements. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to SXC or persons acting on its behalf are expressly qualified in their entirety by this notice. SXC disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. Risks and uncertainties about SXC's business are more fully discussed in its Annual Information Form.Systems Xcellence
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