Catalyst Health Solutions Named Again to Washington Business Journal’s “50 Fastest Growing Companies” List
Catalyst Health Solutions, Inc. (NASDAQ:CHSI) (formerly HealthExtras, Inc.), a leading manager of prescription drug benefits, was named for the second consecutive year by the Washington Business Journal as one of the fastest growing companies in the greater Washington, D.C. area. The Company ranked 15th with average annual revenue growth in 2005-2007 of 64.6%.
Catalyst Health Solutions, Inc. received the honor at an evening awards reception held October 2, 2008 at the National Press Club in Washington, D.C. The fastest growing companies are also profiled in the October 3rd edition of the Washington Business Journal.
“We are honored to be recognized as one of Washington Business Journal’s 50 Fastest Growing Companies for the second year in a row,” said David T. Blair, Chief Executive Officer of Catalyst Health Solutions. “We have experienced well-managed growth attributable to both strategic acquisitions and new sales.”
Companies were selected based upon a three-year revenue-growth percentage. In addition to high growth rates, companies must have had 2005 revenue of more than $2 million and 2007 revenue of more than $10 million in order to be eligible. Participants in the survey were based in the metropolitan Washington, D.C. region.
About Catalyst Health Solutions, Inc.
Catalyst Health Solutions, Inc. (formerly HealthExtras, Inc.) is built on strong, innovative principles in the management of prescription drug benefits and provides an unbiased, client-centered philosophy resulting in a year-over-year client retention rate of more than 98%. The Company’s subsidiaries include Catalyst Rx, a full-service pharmacy benefit manager serving more than five million lives in the United States and Puerto Rico; HospiScript Services, LLC, one of the largest providers of pharmacy benefit management services to the hospice industry; and Immediate Pharmaceutical Services, Inc., a fully-integrated prescription mail service facility based out of Avon Lake, Ohio. The company’s clients include self-insured employers including state and local governments, managed care organizations, unions, hospices, third-party administrators and individuals.
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties. Factors that we have identified that might materially affect our results are discussed in our Annual Report on Form 10-K for the year ended December 31, 2007 under “Item 1.A Risk Factors.” Readers are urged to carefully review and consider the various disclosures made in our Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and uncertainties that may affect our business.