California Health Care Coalition Selects Catalyst Rx as its Recommended Pharmacy Benefit Manager to Provide Services to 44 Member Organizations representing 3 million Californians
Rockville, MD, August 1, 2007 – HealthExtras, Inc. (NASDAQ:
HLEX) – announced today that its pharmacy benefit management
division, Catalyst Rx was selected by the California Health Care
Coalition (CHCC) for exclusive recommendation of pharmacy
benefit management services to its member organizations.
CHCC is a membership organization of 44 employers, unions,
and health and welfare funds currently representing 3 million
Californians. Members of the Coalition are determined to reduce
health costs and improve quality without degrading benefits. “We
selected Catalyst Rx because it offered our membership full
transparency, aggressive pricing, and an innovative California
physician visit and education program to help assure quality
while managing and reducing trend overtime,” stated Sally
Covington, Executive Director of CHCC. The terms of the
arrangement are subject to final contract execution.
“CHCC’s selection of Catalyst Rx reflects 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. HealthExtras will provide an update on
these and other corporate developments in conjunction with its
next quarterly conference call now scheduled for August 7, 2007.
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. |
