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Secure EDI Appoints Former Chairman and CEO of SXC Health Solutions to Board of Directors

^{Published on 2011-02-28 13:25:24 - Market Wire}
 

CHARLOTTE, N.C.--([ BUSINESS WIRE ])--Secure EDI, Inc., a leading provider of electronic claims solutions and services for payers and providers, announced today that Gordon aStoniea Glenn, former CEO of SXC Health Solutions Inc., has joined its Board of Directors.

"The role the Company plays as a valuable and trusted partner to its customers opens up a lot of doors for further investment and growth."

Mr Glenn has more than 35 years experience managing and leading high growth businesses in technology and healthcare. Prior to his retirement in 2008, Mr. Glenn served as Chairman and CEO of SXC Health Solutions (NASDAQ: SXCI), a leading provider of pharmacy claims processing software and services and PBM products and services. From 1998 to 2006 Mr. Glenn was President and CEO of SXC and was appointed Chairman in 2006.

aIa™ve watched Stonie build SXC from a small pharmacy claims processing company into one of the leading and fastest growing claims processing and pharmacy benefits management businesses, while increasing its market capitalization from $8 million to in excess of $700 million,a said David Mayer, a Partner at Abingworth and Director of Secure EDI.

Secure EDI CEO, Barry Byrd, added, aStoniea™s experience growing SXC from a small business into a leader in this fast growing competitive sector, and understanding of the opportunities and challenges that come with growth, is exactly the type of background our company can benefit from as we continue to grow our core business and look at new avenues for growth.a

Secure EDI completed a growth recapitalization with Abingworth in 2010 and is actively seeking to grow its business through strategic acquisitions of related businesses as well as strategic partnerships to leverage its payer and provider distribution networks in the US, Puerto Rico and Latin America.

aSecure EDI has strong momentum and a good runway of opportunity given all the impending changes on how payers and providers make the business of healthcare more efficient and cost effective,a said Mr Glenn. He added: aThe role the Company plays as a valuable and trusted partner to its customers opens up a lot of doors for further investment and growth.a

About Secure EDI

Secure EDI is a Healthcare IT firm that is pioneering electronic solutions for enhancing the efficiency and the quality of health and dental care. Based on proven platforms, Secure EDI assures seamless interfaces among healthcare and dental providers and payers. Secure EDI capabilities include on-line coverage verification, real time adjudication of claims, electronic funds transfer, on-line reconciliation and a full range of informatics for payers and providers. [ www.secureedi.com ].

About Abingworth

Abingworth is an international investment group dedicated exclusively to the life sciences and healthcare sector. The company invests at all stages of development including early and late-stage venture financing, growth equity and public companies. Founded in 1973, Abingworth has a lengthy track record of backing market leading companies. Abingworth has a specialist team of over 20 professionals with a broad range of skill sets and access to an extensive network of industry contacts. Abingworth has funds under management of over $1.25 billion and offices in London, Menlo Park (California) and Boston.