Co-operators Life Insurance Company and NexgenRx report they have entered into a five-year agreement effective immediately.

NexgenRx provides solutions for the delivery of extended health and dental adjudication services from a single platform.

NexgenRx will provide Co-operators Life with the use of their Pharmacy Benefit Management and Health and Dental Claims Adjudication Services. In addition, Co-operators Life and NexgenRx are in the process of negotiating a strategic investment for Co-operators Life to participate in NexgenRx’s next round of financing.

Co-operators Life currently provides health and dental coverage and adjudication services to over 70,000 plan members plus their dependents. Co-operators Life will offer this service to new customers and begin conversion of its existing business in early 2008. Revenues from transactions are expected to be realized by NexgenRx beginning in the first quarter of 2008.

“We are delighted to be moving forward with NexgenRx. This will provide us with the flexibility and scale that will allow us to significantly grow our group benefits area and meet the needs of our member owners and valued clients,” says Janice Wallace, Vice President, Group Benefits, Co-operators Life.