When Mark Thierer joined SXC Health Solutions as president and COO, he came on board at a boutique pharmacy benefits management software provider. But despite its size, he created a vision for the company to become the pharmaceutical cost management partner of choice and to keep clients for life.
This vision he cast, along with his track record of leadership, determination, innovation and operating excellence, has enabled him to attract the best talent that the industry has to offer to help him achieve his goal. Together, he and his team have developed a game-changing software program in an overly saturated market. This effort also posed great risk to the company, but because of Thierer’s leadership abilities, he has made SXC a strong contender.
He’s also successfully led the company in expanding through acquisition. In May 2008, SXC acquired National Medical Health Card Systems, which was a client of the company at the time. This transaction required a $50 million loan, but it was a very strategic acquisition. Thierer also led the company in raising capital for additional acquisitions. Under his leadership, SXC raised slightly more than $203 million in late 2009, and in December 2010, a portion of this was used for acquiring a specialty pharmacy facility, which is one of the fastest-growing areas of pharmaceutical spend.
Additionally, 1,000 new employees have been hired since the company’s inception. While this is a huge testament to his success, with growth comes more challenges. He’s had to work to get all of these new employees on board with his vision, which he’s successfully done, as well. Adding these new people was key to executing the strategy to enter and grow into an established, competitive market.
Thierer now leads as president and CEO, and the proof of his success is in the numbers. Revenue has grown, and 2011 was its most successful year ever.
How to reach: SXC Health Solutions, (630) 577-3269 or www.sxc.com
