LISLE, Ill. Pharmacy benefit management service provider SXC Health Solutions Corp. has acquired Seattle-based formulary management services company Zynchros, SXC announced Monday.
Founded in 2000, Zynchros provides on-demand formulary management tools to more than 40 health plans and PBMs. SXC said the zynchros.com platform helps payers manage their formulary programs and maintain Medicare Part D compliance.
"Zynchros.com is by far the most advanced and widely installed solution on the market to manage formularies and maintain compliance with Medicare Part Drequirements," SXC president and chief executive officer Mark Thierer said in a statement. "This acquisition further cements SXC's leadership position as the industry?s technology-enabled PBM."
Health insurance plans and PBMs use Zynchros? services to control pharmacy benefit costs and leverage e-prescribing and electronic medical records initiatives.