Cypress Care Announces Contract with California Insurance Guarantee Association (CIGA)

Cypress Care today announced that it finalized a contract with the California Insurance Guarantee Association (CIGA) to provide pharmacy benefit management (PBM) and durable medical equipment (DME) supplies for CIGA’s workers' compensation insurance program. The contract has an initial term of two years.

The objective bid process helped CIGA select a vendor capable of providing quality services at competitive prices with improved outcomes consistent with CIGA's business requirements.

Atlanta (Vocus) August 13, 2008 -- Cypress Care today announced that it finalized a contract with the California Insurance Guarantee Association (CIGA) to provide pharmacy benefit management (PBM) and durable medical equipment (DME) supplies for CIGA’s workers' compensation insurance program. The contract has an initial term of two years.

Cypress Care's PBM service consists of pharmacy claims processing, including retail and home delivery, formulary management, prospective drug utilization review and helpdesk support. In addition to pharmacy services, Cypress Care coordinates the delivery of authorized DME and supplies to claimants, including both custom and standard orders. Commonly ordered DME and supply orders include wheelchairs, crutches and wound care supplies.

"We are pleased to have the opportunity to provide pharmacy management and durable medical equipment solutions to CIGA," said David A. George, Cypress Care chief executive officer. "This key relationship further expands Cypress Care's presence in the workers' compensation industry, and particularly in California, and allows us to further expand our product offerings for this prestigious customer. We look forward to demonstrating to CIGA that Cypress Care provides the best possible care to its claimants through clinical and technology solutions."

"CIGA utilized a comprehensive competitive bid process to select Cypress Care as its vendor," said Wayne Wilson, executive director of CIGA. "The objective bid process helped CIGA select a vendor capable of providing quality services at competitive prices with improved outcomes consistent with CIGA's business requirements."

About Cypress Care
Cypress Care is a leader in the management of rising claims expenses related to pharmacy and ancillary health service benefits for the workers’ compensation, auto insurance and Medicare set-aside markets. With its comprehensive, powerful technology and industry expertise, the company has created a new standard in cost management and customer service. Cypress Care’s strategic objectives center around the delivery of products and services that address a broad spectrum of integrated healthcare services that contribute significantly to the reduction of claims cost. The company’s customers include some of the largest private/governmental employers and insurance companies in the United States. For more information, please visit www.cypresscare.com.

###