Toronto Stock Exchange Symbol: SXCFOR IMMEDIATE RELEASESYSTEMS XCELLENCE RENEWS ASP
CONTRACT WITH AMERICAN ASSOCIATED DRUGGIST INC.
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Two-Year Contract Valued at Approximately $900,000 - MILTON,
Ontario September 23, 2002
-- Systems Xcellence Inc., (TSX: SXC) a
leading provider of healthcare information technology solutions throughout
the pharmaceutical supply chain, today announced that it has renewed its
Application Service Provider (ASP) contract with American Associated
Druggist Inc. (or “United Drugs”), a pharmacy benefit manager (PBM)
based in Phoenix, Arizona. All figures are in Canadian dollars. SXC
will continue to provide United Drugs with ASP-versions of RxCLAIMÒ
(for pharmacy benefit management) and RxTRACKÒ
(a data warehouse and information analysis tool) for approximately $450,000
per year over a two-year period. The value of the contract would increase
should the number of transactions rise on a year-over-year basis. “SXC
is unique in our industry in that we offer our products on both an ASP and
licensed software basis. For mid-size and smaller organizations within the
pharmaceutical benefits processing market, the ASP solution is an attractive
option, as it does not require significant upfront capital investment and
customers are charged only when a transaction occurs,” said Gordon S.
Glenn, President & CEO of SXC. “As a mid-size PBM, and a client since
1997, we are pleased to retain United Drugs’ business and look forward to
exploring opportunities to expand our relationship in the future.” In
addition to providing flexibility
in healthcare benefit plan design and management,
RxCLAIM offers SXC’s customers control over the fulfillment of third-party
prescription drug claims in the retail pharmacy environment. RxTRACK can be
used in conjunction with RxCLAIM and is a highly versatile reporting tool
that provides valuable business intelligence and drug utilization
information. “Our
strategic relationship with SXC allows us to implement innovative and
effective cost containment and quality of care edits to our claims
processing, both quickly and efficiently.
Ultimately, this helps us provide outstanding service to our
clients,” said Elizabeth Schrader, Vice President Operations & Finance
at United Drugs. “As we pursue our growth objectives, we know we can rely
on SXC’s solutions to have the flexibility and scalability to support a
rising number of transactions.” About
United Drugs United
Drugs was founded in 1976 as a cooperative of independent pharmacists in
Arizona. Over the past 25 years the Company has expanded into more than 30
states. While its early mission was to pool the purchasing power of
independent pharmacists to remain competitive, over the years, United
Drugs’ services have grown to include retail and front-end programs and
third party contracting. The company’s chief mission continues to be to
increase the profitability of its members through delivering purchasing
power, discounts on products and services relative to the independent
pharmacy and increased access to patients in third party plans. About Systems
Xcellence Inc: Systems
Xcellence (SXC) is headquartered in Milton, Ontario with offices and
processing centres in Lombard, Illinois, Scottsdale, Arizona and Victoria,
British Columbia. 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, 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, retail pharmacy chains and
other healthcare intermediaries. The
company’s products offer its customers comprehensive pharmacy benefits
management, claims switching and processing, drug dispensing, data
warehousing and analysis, and rebate contract management systems. SXC
delivers these solutions to its customers as software products bundled with
systems implementation and consulting services, or on an ASP basis from its
data centres in Scottsdale, Arizona and Lombard, Illinois. The Company’s
shares are traded on the Toronto Stock Exchange under the symbol SXC.
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 Management
Discussion and Analysis published in the Company's annual report.
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