Business & Finance
Business and Finance
Business and Finance
Wed, January 21, 2009 Catalyst Rx and The World Bank Enter into Pharmacy Services Agreement
ROCKVILLE, Md.--([ BUSINESS WIRE ])--Catalyst Rx, the pharmacy benefit management subsidiary ofCatalyst Health Solutions, Inc. (NASDAQ:CHSI), announced today that it was selected by the World Bank to provide pharmacy benefit management services to more than 30,000 beneficiaries, effective January 1, 2009.
"We believe the World Bank's selection of Catalyst Rx is a reflection of our continued success in providing fully transparent, pass-through solutions and exceptional levels of service," said David T. Blair, Chief Executive Officer of Catalyst Health Solutions. "Our local presence and collaborative approach to managing pharmacy benefits will prove successful to the World Bank in providing the most clinically appropriate and cost-effective solutions for their employees and dependents."
About Catalyst Health Solutions, Inc.
Catalyst Health Solutions, Inc. is built on strong, innovative principles in the management of prescription drug benefits and provides an unbiased, client-centered philosophy resulting in a year-over-year client retention rate of more than 98%. The Company's subsidiaries include Catalyst Rx, a full-service pharmacy benefit manager serving more than five million lives in the United States and Puerto Rico; HospiScript Services, LLC, one of the largest providers of pharmacy benefit management services to the hospice industry; and Immediate Pharmaceutical Services, Inc., a fully-integrated prescription mail service facility in Avon Lake, Ohio. The company's clients include self-insured employers including state and local governments, managed care organizations, unions, hospices, third-party administrators and individuals.
About the World Bank
The World Bank Group's mission is to fight poverty and improve the living standards of people in the developing world. It is a development Bank which provides loans, policy advice, technical assistance and knowledge sharing services to low and middle income countries to reduce poverty.
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties. Factors that we have identified that might materially affect our results are discussed in our Annual Report on Form 10-K for the year ended December 31, 2007 under "Item 1.A Risk Factors." Readers are urged to carefully review and consider the various disclosures made in our Annual Report on Form 10-K 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.
