CGI to provide business process services for Medco's medicare prescription drug plan
8 January 2006
Medco Health Solutions, Inc., one of the nation's leading pharmacy benefit managers, selected CGI Group Inc. (CGI) (TSX: GIB.SV.A; NYSE: GIB), one of the largest information technology and business process services firms in the world, to provide payment, reconciliation and enrollment form processing services for YOURx PLAN(TM), Medco's nationwide Medicare prescription drug plan (PDP). As part of this multi-year contract valued between US$30 and $40 million, CGI will perform member billing, Medicare payment reconciliation, enrollment form processing, and IT hosting services for DTraq, the software solution developed by MMC 20/20 Systems, Inc. that is used by Medco for the billing and reconciliation. To meet the demands of this contract, CGI will be hiring over 50 business and IT professionals in Fort Worth, Texas. "We are extremely excited about our new relationship with Medco and building our healthcare billing practice. Over the years, we have built a noteworthy reputation for our billing solutions and expertise. As Medco's needs evolve and change in accordance with this new government program, we'll be there to adapt and adjust accordingly," said Karen Furtado, vice-president of CGI Insurance Business Services. CGI employs professionals across North America dedicated to the healthcare sector. Services beyond the full end-to-end IT offerings include; managed care solutions, a healthcare adapted ASP solution and HIPAA compliance and bioinformatics. Clients include provincial and federal healthcare organizations, regional boards, teaching hospitals and HMOs. During the past decade, CGI has delivered industry-leading solutions to more than five hundred hospitals, health systems and other healthcare providers, as well as health insurers, managed care companies and government payers. To learn more, please visit the healthcare section of www.cgi.com. About CGI Founded in 1976, CGI is the 8th largest independent IT services company in the world. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in India and Canada. CGI's annual revenue is currently CDN$3.7 billion (US$3.0 billion) and at September 30, 2005, CGI's order backlog was CDN$12.9 billion (US$11.1 billion). CGI's shares are listed on the TSX (GIB.SV.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com. Forward-Looking Statements All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements represent CGI Group Inc.'s intentions, plans, expectations, and beliefs, and are subject to risks, uncertainties, and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward- looking statements. These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly- evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management's Discussion and Analysis (MD&A) in CGI Group Inc.'s Annual Report or Form 40-F filed with the SEC, the Company's Annual Information Form filed with the Canadian securities authorities, as well as assumptions regarding the foregoing. The words "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", and similar expressions and variations thereof, identify certain of such forward-looking statements, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward- looking statements. %SEDAR: 00002790EF
For further information: CGI, Investor relations: Lorne Gorber, Vice-president, investor relations, (514) 841-3355; Ronald White, Director, investor relations, (514) 841-3230; Media relations: Eileen Murphy, Director, media relations, (514) 841-3430; Archived images on this organization are searchable through CNW Photo Archive website at http://photos.newswire.ca. Images are free to accredited members
Source: newswire
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