Davis Polk & Wardwell LLP advised J.P. Morgan Securities Inc. as sole book-running manager on a dual-listed offering by SXC Health Solutions Corp. of 5,175,000 common shares for approximately $204 million. The shares are listed on the Nasdaq Global Select Market and the Toronto Stock Exchange, and the offering is registered with the SEC and the Ontario Securities Commission.

The lead managers of the offering were Dougherty & Company LLC, SunTrust Robinson Humphrey, Inc. and Versant Partners Inc., and the co-managers were Oppenheimer & Co. Inc. and Paradigm Capital U.S. Inc. J.P. Morgan Securities Canada Inc. and Paradigm Capital Inc. were the Canadian sub-underwriters and Versant Partners Inc. was the Canadian underwriter.

SXC is a leading provider of pharmacy benefit management services and health care information technology solutions to the health care benefits management industry.

The Davis Polk corporate team included partners Deanna L. Kirkpatrick and associates Ross A. Oliver, Arthur Einav, Hilde M. Matthee and Johanna R. Dyer (not yet admitted). Partner Harry Ballan and associate Kevin J. Brogan provided tax advice. Partner Gail A. Flesher provided environmental advice. Partner Steven S. Weiner and associate Emma Maconick (admitted only in the High Court of New Zealand and the Supreme Court of England and Wales) of the Menlo Park office provided intellectual property advice. Counsel Erin K. Cho of the Washington DC office provided ERISA advice. Natalie Chan was the legal assistant for the transaction. Except as noted above, all members of the Davis Polk team are based in the New York office.