WINNER: Health Sciences
Mark Thierer had a vision for SXC Health Solutions Corp. to become the pharmaceutical cost management partner of choice. In his short time as CEO and chairman, he has transformed SXC from a boutique provider of pharmacy benefits management (PBM) software to a rapidly growing full-service company.
His vision included three goals: developing a flexible business model based on customization, building a service model to take advantage of SXC’s flexible technology platform, and executing a strategy to acquire PBM clients.
To expand its business, Thierer and his team leveraged a claims processing system along with the knowledge and expertise gained from SXC’s PBM clients. SXC was one of the first companies to bring to market this type of system, designed exclusively for online, real-time determination of pharmacy benefit claims at the point of sale.
Thierer’s goal to buy integral companies is being fulfilled in several areas. In May 2008, SXC acquired National Medical Health Card Systems as a strategic factor in its growth plan. To raise capital for additional purchases, a highly successful secondary stock offering was held, raising $203 million in late 2009.
In December 2010, part of this capital was used for a specialty pharmacy facility, one of the fastest-growing areas of pharmaceutical investment. Two additional purchases were closed in 2011.
Fortune awarded SXC first place in its fasting-growing companies list for 2011. Since the inception of PBM, more than 1,400 employees have been added at SXC.
To further commit to its goals of continuous innovation and advancement, SXC established an Office of Innovation in 2011, which focuses on creating opportunities that benefit clients, advance SXC’s leadership position and produce revenue opportunities. ■
HOW TO REACH: SXC Health Solutions Corp., www.sxc.com
