Worcester Pharmacy Benefit Firm Acquired
An Illinois-based health care management and consulting firm purchased MedMetrics Health Partners, a Worcester-based pharmacy benefits manager that is affiliated with UMass Medical School.
SXC Health Solutions, a health care IT and pharmacy benefits management firm that operates across North America, purchased MedMetrics for an undisclosed sum.
MedMetrics is a subsidiary of Public Sector Partners Inc., which is a health care management and consulting firm affiliated with UMass Medical School.
SXC and MedMetrics have worked together for more than seven years.
Revenues for SXC, which is publicly held, increased from $862 million in 2008 to $1.4 billion in 2009, to $1.9 billion last year. Meanwhile, profits increased from $15 to $64 million in that same three-year time period.
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