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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001209191-08-026982.txt : 20080501
<SEC-HEADER>0001209191-08-026982.hdr.sgml : 20080501
<ACCEPTANCE-DATETIME>20080501190646
ACCESSION NUMBER:		0001209191-08-026982
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080429
FILED AS OF DATE:		20080501
DATE AS OF CHANGE:		20080501

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL MEDICAL HEALTH CARD SYSTEMS INC
		CENTRAL INDEX KEY:			0000813562
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		IRS NUMBER:				112581812
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0607

	BUSINESS ADDRESS:	
		STREET 1:		26 HARBOR PARK DR
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050
		BUSINESS PHONE:		5166260007

	MAIL ADDRESS:	
		STREET 1:		26 HARBOR PARK DRIVE
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEW MOUNTAIN AFFILIATED INVESTORS LP
		CENTRAL INDEX KEY:			0001126786

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26749
		FILM NUMBER:		08796201

	BUSINESS ADDRESS:	
		STREET 1:		712 FIFTH AVE
		STREET 2:		23RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127200300

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVE
		STREET 2:		23RD FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bna13058_bna01nmailp.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-04-29</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000813562</issuerCik>
        <issuerName>NATIONAL MEDICAL HEALTH CARD SYSTEMS INC</issuerName>
        <issuerTradingSymbol>NMHC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001126786</rptOwnerCik>
            <rptOwnerName>NEW MOUNTAIN AFFILIATED INVESTORS LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>787 SEVENTH AVENUE, 49TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-04-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>165725</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>165725</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-04-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>U</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>165725</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series A Converible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.5</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-04-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>165725</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>165725</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The series A 7% convertible preferred stock (&quot;Series A Convertible Preferred Stock&quot;) of National Medical Health Card Systems, Inc. (the &quot;Issuer&quot;) was converted into shares of common stock (&quot;Common Stock&quot;) of the Issuer on a one-for-one basis at a conversion price of $11.50 in connection with the Agreement and Plan of Merger, dated as of February 25, 2008 (the &quot;Merger Agreement&quot;), by and among SXC Health Solutions Corp. (&quot;SXC&quot;), SXC Health Solutions, Inc., Comet Merger Corporation (&quot;Merger Sub&quot;) and the Issuer.</footnote>
        <footnote id="F2">Each share of Common Stock was exchanged for (i) 0.217 of a common share of SXC and (ii) $7.70 in cash on the date of Merger Sub's acceptance of the shares of Common Stock tendered in the exchange offer that was commenced pursuant to the Merger Agreement.</footnote>
        <footnote id="F3">The Series A Convertible Preferred Stock was immediately convertible into Common Stock and there was no mandatory redemption date for the Series A Convertible Preferred Stock.</footnote>
        <footnote id="F4">See column 2.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>New Mountain Affiliated Investors, L.P., by its general partner, New Mountain GP, LLC, /s/ Steven B. Klinsky, Member</signatureName>
        <signatureDate>2008-04-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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