Benecard PBF

April 12, 2011 09:30 ET

BeneCard PBF Announces Drew Crawford Named President and Chief Executive Officer

ORLANDO, FL--(Marketwire - Apr 12, 2011) - Richard O. Ullman, RPh, Chairman of Benecard Services Inc., announced the appointment of former Caremark official, Drew Crawford, as President and Chief Executive Officer of its Prescription Benefit Facilitator, BeneCard PBF.

"We are extremely excited to have Drew Crawford join us as President and CEO of BeneCard PBF," said Mr. Ullman. "Drew's leadership, passion and insight make him the right person to harness the transparency and power of BeneCard PBF to drive savings and value for employers, unions and plan participants while leading the new requirement to control cost," said Ullman.

Mr. Crawford, formerly a strategic part of the executive management team of Caremark, was instrumental in the transformation of that company into one of the largest and most successful companies in the healthcare industry. At Caremark, Mr. Crawford was responsible for all underwriting, analytic and outcome operations of the company's pharmacy benefit management business, including its specialty pharmacy and disease management divisions. Mr. Crawford also led valuation, purchase and integration teams for the company's major transactions including its 2004 acquisition of Advance PCS, which, at the time was the nation's second largest PBM, as well as the company's 2007 merger with CVS Corporation, creating; CVS Caremark.

"I have known Richard Ullman for many years and have long admired his innovative vision and track record of success," said Mr. Crawford, who then goes on to say, "In joining BeneCard PBF, I look forward to working with him to drive down health care costs for plan sponsors and their participants in a manner that provides unrivaled transparency and quality of service."

Most recently, Mr. Crawford served as a principal with Crawford-Ross, a healthcare private equity joint venture which focuses on healthcare services and delivery. This opportunity has positioned Mr. Crawford with invaluable resources and experience in understanding the healthcare platform and its future.

BeneCard PBF, a division of Benecard Services, Inc., is based in Orlando, Florida with offices in Pennsylvania and New Jersey. BeneCard PBF combines a 20-year history of administering fixed rate prescription benefit programs with a management team of pharmacists and industry experts who focus on self-funded prescription benefit program administration. The mission of BeneCard PBF is to improve patient health by aligning the mutual interests of payers, pharmacies and providers.

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