Benecard Services Names Drew Crawford President, CEO Of Benecard PBF

Benecard Services Inc. hired a former Caremark official as president and chief executive officer of its prescription benefit facilitator, Benecard PBF. Drew Crawford is assuming the role at the administrator of prescription benefits and services to public and private plan sponsors. Crawford, 37 years old, was most recently a principal with Crawford-Ross, which is a health care private equity joint venture.

PRESS RELEASE

Richard O. Ullman, RPh, Chairman of Benecard Services Inc, today announced the appointment of former Caremark official, Drew Crawford, as president and chief executive officer of its prescription benefit facilitator (PBF), Benecard PBF.

“Drew’s leadership, passion and insight make him the right person to harness the transparency and power of Benecard PBF to drive savings and value for employers, unions and plan participants while leading the new requirement to control costs.”

Benecard PBF is a leading administrator of prescription benefits and services to public and private plan sponsors. The company provides its customers and participants with innovative tools and services though its newly designed, state of the art and proprietary Rxacto computer system. Unlike traditional pharmacy benefit managers or PBMs, Benecard PBF business practices ensure total transparency and 100% of price savings are passed along to customers.

Formerly a strategic part of the executive management team of Caremark Rx, Mr. Crawford, 37, was instrumental in the transformation of that company into one of the largest and most successful companies in the healthcare industry. At Caremark, Mr. Crawford was responsible for all underwriting, analytic and outcome operations of the company’s pharmacy benefits management business, including its specialty pharmacy and disease management units. Mr. Crawford also led valuation, purchase and integration teams for the company’s major transactions including its 2004 acquisition of Advance PCS, at the time, the nation’s second largest PBM, as well as the company’s 2007 merger with CVS Corporation, in the creation of CVS Caremark.

Most recently, Mr. Crawford served as a principal with Crawford-Ross, a healthcare private equity joint venture.

“We are extremely excited to have Drew Crawford join us as president and CEO of Benecard PBF,” said Mr. Ullman. “Drew’s leadership, passion and insight make him the right person to harness the transparency and power of Benecard PBF to drive savings and value for employers, unions and plan participants while leading the new requirement to control costs.”

“I have known Richard Ullman for many years and have long admired his innovative vision and track record of success,” said Drew. “In joining Benecard PBF, I look forward to working with him to drive down health care costs for plan sponsors and their participants in a manner that provides unrivaled transparency and quality of service.”

Benecard PBF (www.BenecardPBF.com) is a leading, privately held administrator of prescription benefits and services to public and private plan sponsors. The company provides its customers and participants with innovative tools and services though its newly designed, state of the art and proprietary Rxacto computer system. Unlike traditional pharmacy benefit managers or PBMs, Benecard PBF business practices ensure total transparency and 100% of price savings are passed along to customers.

Contacts

Of Fleishman-Hillard on behalf of Benecard

Gerard Carney, 212-453-2227

or

Hannah Barker, 212-453-2104