Systems Xcellence Signs Strategic Development Alliance
Contract with Major U.S. Pharmacy Chain
MILTON, Ontario (March 28,
2000) -- Systems Xcellence Inc., (TSE: SXC) announced today that it
has entered into a strategic alliance with a major U.S. pharmacy chain.
Under the terms of the agreement, SX will provide a pharmacy claim
pre-adjudication application referred to as HX-Verify, the first release
of the HX-Compliance product, as well as its Pharmacy Benefits System (HX-PBS).
The initial multi-million dollar engagement will provide a platform for
additional strategic products to be jointly designed and developed
through this partnership. For competitive reasons, the name and value of
the contract cannot be disclosed at this time.
"This alliance represents a significant new
business opportunity for SX in terms of near-term and recurring revenue.
More importantly, it represents the first step of a long-term relationship
with a major pharmacy chain to provide strategic information technology
which can affect a significant return-on-investment in their core
operations", said Gordon S. Glenn, President and CEO of Systems Xcellence.
HX-Compliance is the latest product initiative in
Systems Xcellence's growing line of Healthcare Xcellence products for the
healthcare benefits management industry. HX-PBSŪ (Pharmacy Benefits
System), SX's flagship product, combines full-functionality with a
patient-centric design. Targeting Pharmacy Benefit Managers and Managed
Care Organizations, HX-PBS is used to manage all aspects of pharmacy
benefits, such as membership identification and enrollment, drug
interaction and utilization, billing and payments, eligibility and claims
adjudication.
Systems Xcellence is headquartered in Milton, Ontario, and provides
advanced online transaction processing solutions for the healthcare
benefits management industry. The Company combines robust software
products, business expertise and services to deliver superior solutions to
the ever-changing managed care sector. The Company's shares are traded on
the Toronto Stock Exchange under the symbol SXC. |