SXC enters definitive agreement to acquire MedMetrics

SXC Health Solutions Corp. ("SXC") (NASDAQ: SXCI, TSX: SXC), announced today it has entered into a definitive agreement to acquire substantially all of the assets of MedMetrics Health Partners, Inc. ("MedMetrics"), the full-service PBM subsidiary of Public Sector Partners, Inc. which is affiliated with a major medical school.

"We are very pleased to welcome MedMetrics and its employees into the SXC fold," said Mark Thierer, Chairman, President and CEO of SXC.  "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.  This transaction is in keeping with our strategy to acquire assets that currently utilize SXC's technology platform and can be easily integrated.  We look forward to leveraging our existing partnership and the strong MedMetrics footprint in the northeast to continue to grow the SXC business in that market."

"MedMetrics has had a long-term, collaborative relationship with SXC and coming together is a natural fit for both of us.  The strength of our relationship combined with the resources that SXC brings to the table will bring additional opportunities for our clients to improve care while benefiting from enhanced operational efficiencies," said Jim Hooley, Interim Managing Director of MedMetrics.

The acquisition is subject to various closing conditions and is expected to be completed during the second quarter of 2011.  MedMetrics manages approximately $200 million in annual drug spend and is accounted for in SXC's PBM segment.  When taking into account deal-related closing expenses and related amortization, the acquisition is not expected to have a material impact to 2011 fully-diluted GAAP EPS.