Catalyst Rx awarded new service contract with Wellmark

Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced the award of a new service contract with Wellmark following a competitive bid process. Wellmark does business as Wellmark Blue Cross and Blue Shield of Iowa and its subsidiaries include Wellmark Blue Cross and Blue Shield of South Dakota and Wellmark Health Plan of Iowa, Inc. Wellmark Blue Cross and Blue Shield is an independent licensee of the Blue Cross and Blue Shield Association. The new contract, effective January 1, 2011, will cover approximately 1.2 million members.

“Catalyst's transparent pricing model and ability to deliver customized programs have allowed us to deliver a high-quality pharmacy benefit to members while effectively reducing our pharmacy costs”

Catalyst Rx began administering pharmacy benefits for Wellmark on July 1, 2006. "Wellmark's selection of Catalyst Rx reflects continued success in our efforts to provide clients with heightened performance accountability, transparency and innovative solutions to managing prescription benefits," said David Blair, Chief Executive Officer of Catalyst Health Solutions. "We appreciate the opportunity to continue building on our collaborative partnership to drive the most care- and cost-effective solutions."

"Catalyst's transparent pricing model and ability to deliver customized programs have allowed us to deliver a high-quality pharmacy benefit to members while effectively reducing our pharmacy costs," says Wellmark Pharmacy Director Matt Hosford, RPH. "Leveraging our combined expertise, and our commitment to quality and service excellence, we will provide greater value for our customers."

Source Catalyst Rx