Catalyst Health Solutions, Inc., (NASDAQ: CHSI) today announced that WellCare Health Plans, Inc. (NYSE: WCG), a leading provider of managed care services to government-sponsored health care programs, will continue its relationship with Catalyst Rx for certain pharmacy benefits services.
“We are excited to extend our relationship with WellCare,” said Rick Bates, president and chief operating officer of Catalyst Health Solutions. “This renewal reinforces the value that Catalyst brings to the plans and members we serve and the success we are having in differentiating ourselves from the competition.”
“WellCare is pleased to continue to work with Catalyst Rx,” said Walt Cooper, WellCare’s chief administrative officer. “Catalyst Rx’s pharmacy capabilities efficiently and effectively support WellCare’s service to our members and government customers.”
In 2010, Catalyst was recognized by Fortune Magazine as one of the top five “Most Admired Companies” in the Health Care: Pharmacy and Other Services industry and has been included on their “Top 100 Fastest Growing Companies” list on four different occasions. By closely partnering with clients to understand their unique needs and then delivering innovative, industry-leading products and services, Catalyst has maintained a strong record of client retention.
About Catalyst Health Solutions, Inc. (www.chsi.com):
Catalyst Health Solutions, Inc., the fastest growing national PBM in the U.S., is built on strong, innovative principles in the management of prescription drug benefits and provides an unbiased, client-centered philosophy resulting in industry-leading client retention rates. The Company's subsidiaries include Catalyst Rx, a full-service pharmacy benefit manager (PBM) serving more than 18 million lives in the United States and Puerto Rico; HospiScript Services, LLC, one of the largest providers of PBM services to the hospice industry; FutureScripts, LLC, a full-service PBM serving approximately one million lives in the mid-Atlantic region; and a fully integrated prescription mail service facility. The Company's clients include self-insured employers, including state and local governments, managed care organizations, unions, hospices, third-party administrators and individuals.
About WellCare Health Plans, Inc.
WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans. The company served approximately 2.6 million members nationwide as of December 31, 2011. For more information about WellCare, please visit the company's website at www.wellcare.com.
This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties that might materially affect our results, particularly those risks referred to in our Annual Report on Form 10-K for the year ended December 31, 2010, and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, under "Item 1A. Risk Factors." Readers are urged to carefully review and consider the various disclosures made in our Annual Report on Form 10-K, our Forms 10-Q, and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and uncertainties that may affect our business. Catalyst Health Solutions, Inc. does not undertake any obligation to update forward-looking statements, whether as a result of new information, future events, or other developments.