SysteMed Acquires INSURx: Mail-order drug distributor SysteMed...
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SysteMed Acquires INSURx: Mail-order drug distributor SysteMed said Wednesday that it completed its acquisition of an Ohio-based designer and manager of prescription drug programs.
SysteMed, based in Laguna Hills, made a stock swap valued at $20 million to acquire INSURx, a private company with $11 million in annual revenue. The company, with headquarters in Cleveland, manages more than $200 million in prescription drug claims and has 2.5 million members enrolled in its health plan.
SysteMed plans to write off $250,000 from second-quarter earnings and about $350,000 as an extraordinary item. The quarter ended Tuesday.
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