Toronto Stock
Exchange Symbol: SXC
SYSTEMS XCELLENCE ANNOUNCES TRANSACTION
PROCESSING CONTRACTS WITH TWO NEW CUSTOMERS
MILTON, Ontario May 26, 2004, Systems Xcellence Inc.,
("SXC") (TSX: SXC) a leading provider of healthcare information technology
solutions and services throughout the pharmaceutical supply chain, today
announced the sale of its ASP transaction processing services to Medliance,
Inc. of Tempe, Arizona and a start up pharmacy benefit manager (the "PBM")
based in the Mid-Atlantic region of the U.S.
Under terms of the three-year agreements, Medliance and the PBM will use
SXC's RxCLAIM® and RxTRACK® ASP solutions to provide on-line adjudication of
prescription drug claims at the point of service, and to effectively manage
health plan benefit design and implementation for their members/clients. In
addition, Medliance will utilize RxMAX® to manage its rebate programs with
pharmaceutical manufacturers.
"These agreements will drive additional transaction volume through our data
centre and will help us to achieve the 30% growth target we have set for our
transaction processing business in 2004," said Gordon S. Glenn, President
and CEO of SXC. "Our business is driven by our ability to direct processing
of the rising number of pharmaceutical prescriptions written each year
through our data centre in Lombard, Illinois. We continue to gain market
share in this area as our broad suite of transaction management solutions
allows participants throughout the pharmaceutical supply chain to enhance
the efficiency and reduce the expense associated with the adjudication of
their prescription claims."
About Medliance, LLC.
Medliance, LLC. is a Tempe, AZ based services company focused on Skilled
Nursing Facility (SNF) cost management systems. A key impact area is
pharmacy auditing, relationship stabilization and ongoing validation of
contract compliance using the Medliance Prescription Validation System (MPVS).
Medliance relies on SXC's RxCLAIM® System to manage and maintain its
clients' contract compliance program. Medliance provides a host of pharmacy
consulting service to the SNF Market.
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, 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, retail pharmacy chains 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.
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