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Catalyst Rx Announces PBM Award by the Upper Peninsula Health Plan

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  Published in Business and Finance on Tuesday, October 26th 2010 at 6:11 GMT by Market Wire
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ROCKVILLE, Md.--([ BUSINESS WIRE ])--Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of Catalyst Health Solutions, Inc. (NASDAQ: CHSI), announced today the award of a three-year PBM contract by the Upper Peninsula Health Plan, a Medicaid Health Care Provider serving the Upper Michigan Counties. The contract covers approximately 38,000 members.

"We thank them for the opportunity and are committed to providing formulary management guidance, exceptional utilization management programs and expert clinical consulting services."

aAfter a competitive bid process, Catalyst is proud to have been selected by the Upper Peninsula Health Plan to manage its PBM needs,a said David T. Blair, Chief Executive Officer of Catalyst Health Solutions. aWe thank them for the opportunity and are committed to providing formulary management guidance, exceptional utilization management programs and expert clinical consulting services."

About Catalyst Health Solutions, Inc. ([ www.chsi.com ])

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 industry-leading client retention rates. The Company's subsidiaries include Catalyst Rx, a full-service pharmacy benefit manager serving more than 7 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 Upper Peninsula Health Plan ([ www.uphp.com ])

The Upper Peninsula Health Plan (UPHP) is a consumer-centered provider service organization of physicians, hospitals, clinics, and ancillary providers in Michigana™s Upper Peninsula. It provides managed care and other services to thousands of Upper Peninsula residents. Others get care from the UPHP network via commercial insurancea"often offered by their employers. The health plan serves as the hub for all commercial managed-care and preferred provider organization (PPO) activity in the Upper Peninsula. The companya™s success has provided employment, wages, and benefits for a talented segment of the Marquette County community. The staff contributes time and resources to many regional and national charitable events and organizations.

This press release may contain aforward-looking statementsa 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, 2009, and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, under aItem 1A. Risk Factors.a 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.