HealthExtras Inc. / HLEX
About HealthExtras Inc.
800 King Farm Blvd., Rockville, Md. 20850
www.healthextras.com
| 301-548-2900
| Founded: 1999
Industry: Health Care | Category: Public Companies
In December, the company bought a rival, EBRx Inc., which had been a subsidiary of Pittsburgh-based Managed Care of America Inc. The deal, for $31 million, represented a bid to expand the firm's customer base by appealing more to third-party administrators. The company forecast that the acquisition would start adding to HealthExtras' bottom line in the second half of 2006.
In April of last year, the company announced that it would switch leaders on its board of directors, with Thomas L. Blair stepping down as chairman in favor of Edward S. Civera. Both were involved with the company's founding. HealthExtras also added a new chief operating officer, naming Eckerd Corp. veteran Nick J. Grujich to the post in June.
Financially, the company had hoped for 40 percent earnings growth in 2005 and met that target. Chief executive David T. Blair predicted the company would achieve more than 40 percent growth in 2006.
2005 Financial Data
Revenues: $694,519,000 | Net Income: $22,980,000Asssets: $286,012,000 | Earnings Per Share: $0.56
Total employees: 284 | Local employees: 115
Company Leadership
| David T. Blair | CEO |
| Nick J. Grujich | COO |
| Michael P. Donovan | CFO |
| Thomas M. Farah | General Counsel |
Source: Compensation data provided by Equilar, Inc..
| David T. Blair CEO | $1,926,700 Salary: $350,000 |
| Nick J. Grujich COO | $1,329,024 Salary: $217,808 |
| Michael P. Donovan CFO | $1,032,100 Salary: $280,000 |
| Thomas M. Farah General Counsel | $304,500 Salary: $230,000 |
Did You Know
HealthExtras Inc. is a pharmacy-benefit-management company with more than 3 million members. The firm's clients include managed-care organizations and self-insured employers that hire HealthExtras to administer their prescription-drug benefit programs. Members have access to more than 54,000 pharmacies nationwide. Many of the company's services are marketed under the brand name Catalyst Rx.
