Catalyst Health Solutions Inc., of Rockville, a provider of pharmacy benefit management services, and Regence Rx Inc., of Portland, Ore., announced a five-and-a-half-year agreement, effective May 1, under which Catalyst will assume many of Regence’s administrative duties.
Under the agreement, Regence Rx will transfer certain employees and operational functions to Catalyst. Catalyst will pay Regence $2.6 million, and establish a pharmacy benefit management center in the Northwest. Regence will continue to provide clinical and contracting support to its existing clients.
Catalyst serves approximately 18 million members in the U.S. and Puerto Rico. Regence offers PBM services in the Northwest to more than 1.2 million members of its health plans, and related services to over 7.7 million members from other Blue Cross Blue Shield and Medicaid plans.