CompPharma Welcomes PMSI

Tampa, Fla. (June 4, 2009) – PMSI Inc. one of the nation’s largest and most experienced providers in serving the workers’ compensation and liability markets, has joined CompPharma, LLC. A national consortium of Pharmacy Benefit Management (PBM) firms specializing in workers’ compensation, CompPharma provides a vehicle for member PBMs to share the cost of researching and developing solutions for industry-wide challenges.

“We are pleased to participate with CompPharma and its members to evolve and promote forward-thinking in the workers’ compensation PBM arena,” said Eileen Auen, PMSI’s Chairman and CEO. “CompPharma plays an essential role in leading the industry with sound judgment, knowledge and insights that promote quality care, showcase integrity and deliver technology- and data-driven capabilities.”

As a member, PMSI will help set CompPharma’s research and development priorities. CompPharma’s initiatives include working with states to ensure that legislators and regulators understand the cost drivers in workers’ compensation pharmacy and how to contain costs and improve the quality of life for injured workers.

“The addition of PMSI strengthens CompPharma’s advocacy position,” said Joseph Paduda, president of CompPharma. “Collectively, our members administer between 60 and 70 percent of all the work comp scripts filled in the country and have the expertise to help regulators and legislators ensure that claimants receive the appropriate medicines in a timely and cost effective manner.”

About PMSI
Founded in 1976, today PMSI is one of the nation’s largest providers of specialty managed care services and products for the workers’ compensation market. PMSI provides an integrated portfolio of services in Pharmacy, Settlement Solutions, Medical Services and Equipment, and Clinical Services that promote quality care while helping clients contain costs and control utilization. The company is owned by H.I.G. Capital, a leading global private equity investment firm with more than $7.5 billion of equity capital under management and a long tradition of partnering with leading companies in the workers’ compensation industry. For more information, please refer to the PMSI website at www.pmsionline.com.

About CompPharma
Established by industry consultants Joseph Paduda and Helen Knight, CompPharma, LLC is a consortium of workers’ compensation PBMs active in workers compensation. More information is available at www.comppharma.com or by contacting Helen Knight at 813-837-1701 or hknight@comppharma.com

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Media Contacts:
For CompPharma: Helen Knight, APR, 813-837-1701, hknight@comppharma.com
For PMSI: Shelia Chapman, Executive Director, Marketing, 813-627-2731, shelia.chapman@pmsionline.com