SXC Health Solutions announces services agreement with MAXIMUS BC Health in province of British Columbia
       By: SXC Health Solutions, Inc.
Posted: 2008-03-04 04:59:45
SXC Health Solutions Corp. ("SXC") (TSX: SXC, NASDAQ: SXCI), a leading provider of pharmacy benefits management ("PBM") services and healthcare IT solutions to the healthcare benefits management industry, announces that it has entered into a two-year $1.6 million services agreement with MAXIMUS BC Health Inc. ("MAXIMUS BC"), a subsidiary of MAXIMUS, Inc. (NYSE: MMS). All dollar amounts in U.S. dollars.

The agreement calls for the delivery of both professional and software development services by SXC to support the PharmaNet upgrade project. SXC's solution provides government and commercial clients with access to proven electronic medication history management and state-of-the-art HL7 Version 3 claims processing technology.

"We are very pleased to extend our relationship with our valued partner MAXIMUS BC," said Gordon Glenn, Chairman and CEO of SXC. "This agreement ensures that MAXIMUS BC will have ongoing access to SXC resources for the consulting and software enhancement services that will be needed as part of our joint PharmaNet upgrade project."

"The current PharmaNet application is a leading edge solution for the provision of patient medication histories, drug use evaluation, claims adjudication and payment reconciliation," said Duff Lang, President, MAXIMUS BC Health Inc. "We look forward to expanding our partnership with SXC to launch the next generation of the DIS as part of the Ministry of Health eHealth Electronic Health Record initiative to create a safer and more efficient health care system. This effort will broaden the quality service we already deliver to the pharmaceutical and medical communities in British Columbia."

SXC's software is the core processing engine for health record transactions in the PharmaNet System. The upgraded solution will include implementation of the pan-Canadian Electronic Drug ("CeRx") Messaging Standard established under the leadership of Canada Health Infoway Inc. Based in HL7 Version 3, CeRx ensures that the software is transferable and interoperable in other Canadian jurisdictions. SXC's DIS software applications have now been licensed in two provinces - British Columbia and the province of Newfoundland and Labrador. Funding for this major upgrade to British Columbia's PharmaNet system comes from the Province and Canada Health Infoway, a federal, non-profit organization with the mandate to accelerate the development of electronic health information systems across Canada.

About SXC Health Solutions Corp.

SXC Health Solutions Corp. (formerly Systems Xcellence, Inc.) is a leading provider of pharmacy benefits management (PBM) services and healthcare IT solutions 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 Federal, provincial, and, state and local governments, pharmacy benefit managers, managed care organizations, retail pharmacy chains and other healthcare intermediaries. SXC is based in Lisle, Illinois with locations in; Scottsdale, Arizona; Warminster, Pennsylvania; Alpharetta, Georgia; Milton, Ontario and Victoria, British Columbia. For more information please visit http://www.sxc.com.

About MAXIMUS, Inc.

MAXIMUS is a leading provider of program management, consulting and information technology primarily to government clients. The Company has more than 6,000 employees located in more than 220 offices in the United States, Canada and Australia. MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.

Forward-Looking Statements

Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause our actual financial results, performance, or achievements to be materially different from our estimated future results, performance or achievements expressed or implied by those forward-looking statements. Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without limitation, our ability to achieve increased market acceptance for our product offerings and penetrate new markets; consolidation in the healthcare industry; the existence of undetected errors or similar problems in our software products; our ability to identify and complete acquisitions, manage our growth and integrate acquisitions; our ability to compete successfully; potential liability for the use of incorrect or incomplete data; the length of the sales cycle for our healthcare software solutions; interruption of our operations due to outside sources; our dependence on key customers; maintaining our intellectual property rights and litigation involving intellectual property rights; our ability to obtain, use or successfully integrate third-party licensed technology; compliance with existing laws, regulations and industry initiatives and future change in laws or regulations in the healthcare industry; breach of our security by third parties; our dependence on the expertise of our key personnel; our access to sufficient capital to fund our future requirements; and potential write-offs of goodwill or other intangible assets. This list is not exhaustive of the factors that may affect any of our forward-looking statements. Other factors that should be considered are discussed from time to time in SXC's filings with the Canadian Securities Administrators, including the risks and uncertainties discussed under Item 8, Risk Factors in our Annual Information Form dated March 23, 2007, which is available at http://www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to SXC or persons acting on our behalf are expressly qualified in their entirety by this notice. We disclaim any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. Risks and uncertainties about our business are more fully discussed in our Annual Information Form.

Certain of the assumptions made in preparing forward-looking information and management's expectations include: maintenance of our existing customers and contracts, our ability to market our products successfully to anticipated customers, the impact of increasing competition, the growth of prescription drug utilization rates at predicted levels, the retention of our key personnel, our customers continuing to process transactions at historical levels, that our systems will not be interrupted for any significant period of time, that our products will perform free of major errors, our ability to obtain financing on acceptable terms and that there will be no significant changes in the regulation of our business.
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