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LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions will acquire “substantially all” assets of Worcester, Mass.-based PBM MedMetrics Health Partners, SXC said Tuesday.
The companies expect the acquisition to be completed in second quarter 2011. Financial terms were not disclosed. MedMetrics manages about $200 million in annual drug spend.
“We are very pleased to welcome MedMetrics and its employees into the SXC fold,” SXC chairman, president and CEO Mark Thierer said. “We have worked with MedMetrics as a client and a partner over the past seven years; they began with SXC as a healthcare IT client and later expanded the relationship to include PBM services.”