HealthExtras Announces Strategic Investment in CatalystRx, Inc.Business Editors/Health & Medical Writers ROCKVILLE, Md.--(BUSINESS WIRE)--Nov. 19, 2001 HealthExtras, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HLEX), a leading source of affordable health, pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. and disability benefits, today announced a strategic investment in CatalystRx, Inc. ("CatalystRx") of Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada. CatalystRx provides a range of pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. and benefit design services. "CatalystRx compliments our existing pharmacy business and provides HealthExtras additional resources to service larger, more sophisticated employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. and managed care organizations," stated David T. Blair, Chief Executive Officer of HealthExtras. "This transaction will be accretive on a consolidated basis and immediately enhance our value to both our clients and shareholders." CatalystRx's success is attributable to offering employer groups differentiated benefit design options, personal service, consultative expertise, clinical review programs and access to market specific retail pharmacy networks, all of which enhances its ability to manage pharmacy benefits costs for clients. Kevin Hooks, President of CatalystRx said, "We are delighted to be affiliated with the HealthExtras team. We believe that the combined directions of both companies will have a synergistic effect Synergistic effect A violation of value-additivity in that the value of a combination is greater than the sum of the individual values. on our overall mission. At CatalystRx, we will remain focused on our strategy of a differentiated approach to managing pharmacy benefits. At the same time, we anticipate that this affiliation will generate significant opportunities to broaden our reach and enhance our range of capabilities." Management expects to discuss the transaction in detail during its next conference call with analysts and investors. HealthExtras will be prepared to fully address the implications of this transaction when it next updates its 2002 guidance. The details of the transaction will be incorporated in the Company's required filings with the Securities and Exchange Commission. About HealthExtras (www.healthextras.com) HealthExtras is a leading provider of health, pharmacy and disability benefits. Through its website, employee benefit plans and other direct channels, HealthExtras offers individuals, small businesses and employer groups affordable health, pharmacy, and disability benefits. The Company provides pharmacy benefit management services focusing on the unique needs and priorities of small to mid-sized employer groups and managed care organizations. The Company has an integrated mail order pharmacy and a nationwide network of over 53,000 retail pharmacies. Founded in 1997, HealthExtras is located in Rockville, Maryland Rockville is the county seat of Montgomery County, Maryland, United States. According to the 2006 census update, the city had a total population of 59,114, making it the second largest city in Maryland. . About CatalystRx, Inc. (www.catalystrx.com) CatalystRx provides pharmacy benefit management services to a variety of organizations including managed care organizations, self-insured employers and third party administrators. CatalystRx's website allows clients and members access to plan-specific information including covered and excluded benefits, member copayments and drug/disease information. Founded in 1994, CatalystRx is located in Las Vegas, Nevada. This press release may contain forward-looking information. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in HealthExtras' filings with the Securities and Exchange Commission. |
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