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State of Ohio Informs Catalyst Rx of Intent to Award Pharmacy Benefit Management Contract

 

20-Mar-2006: HealthExtras, Inc. (NASDAQ:HLEX) -- The State of Ohio has announced its intent to award HealthExtras' pharmacy benefit management subsidiary, Catalyst Rx a contract to administer a comprehensive pharmacy benefit program for more than 132,000 beneficiaries. The award is subject to final contract execution and is expected to be effective July 1, 2007. Catalyst Rx was selected following the state's competitive-bidding process.

"The State of Ohio's selection of Catalyst Rx reflects our continued success in our efforts to provide clients with both heightened performance accountability and innovative solutions to managing prescription benefits," said David T. Blair, Chief Executive Officer of HealthExtras. "We look forward to working with the State of Ohio to provide high quality service to its members."

The Company will provide an update on these and other corporate developments in conjunction with its next regularly scheduled conference call.

About HealthExtras (www.healthextras.com)

HealthExtras, Inc. is a full-service pharmacy management company. Its clients include self-insured employers, including state and local governments, third-party administrators, managed care organizations and individuals. The Company's integrated pharmacy benefit management services marketed under the name Catalyst Rx include: claims processing, benefit design consultation, drug utilization review, formulary management, drug data analysis services and mail order services. Additionally, the Company operates a national retail pharmacy network with over 58,000 participating pharmacies.

This press release may contain forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in HealthExtras' filings with the Securities and Exchange Commission.

Source: Healthcare Republic