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Going-Concern Statement

Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers, and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business. In short, don't blame the accountants if the company files for bankruptcy protection.

You¿d reckon that a going-concern statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know more than the bean counters.

During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.

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SXC Health Solutions announces informedRx renewal contract with The University of Michigan

 
Comtex
 

LISLE, IL, Jul 2, 2008 (Canada NewsWire via COMTEX) ----SXC Health Solutions Corp. ("SXC" or the "Company") (NASDAQ: SXCI, TSX: SXC), a leading provider of technology and pharmacy benefits management services, announces a 36-month renewal agreement for its informedRx suite of services with The University of Michigan. Services to be provided under the renewal include: RxCLAIM(R) for on-line adjudication services of prescription drug claims, RxTRACK(R) for data warehouse access, benefit administration, pharmacy network management, rebate services and clinical prior authorization management.

"We are very pleased to extend our relationship with The University of Michigan and to continue to support their innovative programs centered on reducing their prescription drug expenditures and enhancing the quality of care for their plan members," said Mark Thierer, President and Chief Executive Officer at SXC.

"Our relationship with SXC has allowed The University of Michigan to effectively manage our pharmacy benefits by implementing a variety of programs in a very flexible manner - keeping the rate of increase of our drug costs well below the national average," stated Keith Bruhnsen, Assistant Director, Benefits at The University of Michigan. "Their ongoing commitment to timely and superior member service was also an important factor in our renewal."

About informedRx(R)

informedRx(R) is a broad suite of � la carte pharmacy benefit services that provide a flexible and cost-effective alternative to traditional pharmacy benefit management offerings. informedRx is built around SXC's industry leading technology solutions including pharmacy claims processing and reporting, rebate billing system and near real-time alternative therapy messaging. All contracting is founded on a total transparency and pass-through model for manufacturer rebates, retail network contracting and MAC management. informedRx also provides clinical intervention programs and drug utilization reviews which feature a coordinated approach with plan sponsors allowing input and control for specific client and market situations. All programs are priced on a fee-for-service basis.

About SXC Health Solutions

SXC Health Solutions Corp. (SXC) is a leading provider of pharmacy benefits management (PBM) services and HealthCare IT (HCIT) solutions to the healthcare benefits management industry. The Company's HCIT Group is dedicated to supporting the PBM industry with a broad range of technology, tools and services including a wide range of software applications, application service provider (ASP) processing services and professional services. SXC's customers include the largest organizations in the pharmaceutical supply chain, such as Federal, provincial, and state and local governments, PBMs, managed care organizations, institutional pharmacies, and other healthcare intermediaries. SXC is headquartered in Lisle, Illinois with 13 locations in the US and Canada. For more information please visit www.sxc.com.

%SEDAR: 00001439E

SOURCE: SXC Health Solutions Inc.

Jeff Park, Chief Financial Officer, SXC Health Solutions, Inc., Tel: (630) 577-3206, investors@sxc.com;
   Dave Mason, Investor Relations, The Equicom Group Inc., (416) 815-0700 ext. 237, dmason@equicomgroup.com; Susan Noonan, Investor
   Relations - U.S., The SAN Group, LLC, (212) 966-3650, susan@sanoonan.com 
Copyright (C) 2008 CNW Group. All rights
   reserved.
 
 

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