LISLE, IL, Jan. 4, 2012/PRNewswire/ - SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI) (TSX: SXC), a leading provider of pharmacy benefit management (PBM) services and healthcare information technology (HCIT) solutions to the healthcare benefits management industry, announced today the completion, effective as of January 1, 2012, of its previously disclosed acquisition of HealthTran LLC ("HealthTrans"), a middle-market PBM service company, for a purchase price of $250 millionin cash, subject to certain customary post-closing adjustments. The purchase price was funded from SXC's existing cash balance and $100 millionin borrowings under its five-year, $350 millionunsecured revolving credit facility.
"We are excited to close our acquisition of HealthTrans and bring its services and talent into the SXC fold," said Mark Thierer, Chairman and CEO of SXC. "We believe that the combined strength of the two companies will help fuel SXC's continued growth."
HealthTrans is based in Denver, Colorado, where its operations will remain.
About SXC Health Solutions Corp.
SXC Health Solutions Corp. is a leading provider of
pharmacy benefits management (PBM) services and Health Care
Information Technology (HCIT) solutions to the healthcare
benefits management industry. The Company's product
offerings and solutions combine a wide range of PBM
services and 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 health plans,
employers, federal, provincial, and, state and local
governments, pharmacy benefit managers, retail pharmacy
chains and other healthcare intermediaries. SXC is
headquartered in Lisle, Illinoiswith multiple
locations in the US and Canada.
About HealthTrans
HealthTrans is a privately held healthcare management
solutions company, formed in 2000 with a diverse customer
base that includes managed care organizations (MCOs),
pharmacy benefit managers (PBMs), workers' compensation
plans, specialty programs, third-party administrators
(TPAs), resellers and government-sponsored plans.
HealthTrans' full-spectrum of healthcare management
products and services include claims processing solutions,
full PBM services, medical claims processing, clinical
programs, benefits administration services, mail order
options and discount healthcare programs. For more
information, please visit .
Forward-Looking Statements
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 applicable
securities laws. 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
our actual financial results, performance, or achievements
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 dependence on, and ability to retain, key
customers; our ability to achieve increased market
acceptance for our product offerings and penetrate new
markets; consolidation in the healthcare industry; the
existence of undetected errors or similar problems in our
software products; our ability to identify and complete
acquisitions, manage our growth, integrate acquisitions and
achieve expected synergies from acquisitions (in the
anticipated timeframe or at all); our ability to compete
successfully; potential liability for the use of incorrect
or incomplete data; the length of the sales cycle for our
healthcare software solutions; interruption of our
operations due to outside sources; maintaining our
intellectual property rights and litigation involving
intellectual property rights; our ability to obtain, use or
successfully integrate third-party licensed technology;
compliance with existing laws, regulations and industry
initiatives and future change in laws or regulations in the
healthcare industry; breach of our security by third
parties; our dependence on the expertise of our key
personnel; our access to sufficient capital to fund our
future requirements; and potential write-offs of goodwill
or other intangible assets. This list is not exhaustive of
the factors that may affect any of our forward-looking
statements. Other factors that should be considered are
discussed from time to time in SXC's filings with the
U.S. Securities and Exchange Commission, including the
risks and uncertainties discussed under the captions
"Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results
of Operations" in our 2010 Annual Report on Form 10-K
and subsequent Form 10-Qs, which are available at .
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 our behalf are expressly qualified in
their entirety by this notice. We disclaim any intent or
obligation to update publicly these forward-looking
statements, whether as a result of new information, future
events or otherwise.
SOURCE SXC Health Solutions Corp.
Tony Perkins
Investor Relations
SXC Health Solutions Corp.
(630) 577-4871
tony.perkins@sxc.com
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