Express Scripts in Binding Agreement with MSC for the Purchase of its Pharmacy Services Division
Express Scripts, Inc. (Nasdaq: ESRX) is one of the largest PBM companiesin North America, providing PBM services to thousands of client groups,including managed-care organizations, insurance carriers, employers,third-party administrators, public sector, workers' compensation, andunion-sponsored benefit plans. MSC, a leading service provider in workers'compensation, will now focus solely on its ancillary business and enhance itscapabilities and technologies in that growing market. The company has fourancillary business lines: Durable Medical Equipment, Home Health NursingServices, Translation / Transportation and Imaging Services.
"Both our pharmacy and ancillary customers should benefit greatly fromthis agreement," said Joe Delaney, MSC's President and CEO. "For our pharmacycustomers, this deal will combine the best practices of MSC and ExpressScripts, both of which have a strong reputation for providing high quality PBMservice to workers' compensation clients. For our ancillary customers, thisdeal enables MSC to put greater focus and investment in the ancillary market,which has very different needs and is vastly under-penetrated from a networkperspective."
"Express Scripts sees tremendous value in our Pharmacy Services divisionbecause of our reputation for developing innovative technologies tailored tothe needs of workers' compensation clients, our high-touch customer servicemodel and our advanced clinical skills," said Mitch Freeman, President ofMSC's Pharmacy Services Division.
George Paz, Express Scripts chairman & chief executive officer, added"Express Scripts has a long history of offering PBM services to workers'compensation providers, and the addition of MSC will enhance our leadership inusing proven PBM cost-management tools to drive down costs and improve healthoutcomes. Through our commitment to and capabilities in this arena, we willcontinue to provide the high level of service and clinical expertise requiredin workers' compensation."
MSC's pharmacy and ancillary divisions have historically been managed bytwo separate teams, have operated as individual business units and are wellprepared for a seamless transition. To reinforce this continuity of service,MSC and Express Scripts have entered into a cooperative marketing agreement,which ensures ongoing collaboration and communication to meet the sharedfuture needs and opportunities of their respective businesses.
About MSC - Medical Services Company
MSC provides medical products and services to workers' compensationclients. The company's customers include the nation's leading workers'compensation insurers, third-party administrators and self-insured employers.MSC's focus on the specific dynamics of the workers' compensation allows thecompany to provide market-leading cost containment solutions for itscustomers. MSC's ancillary services are organized in four distinct businesslines: Durable Medical Equipment, Home Health Nursing Services, Translation /Transportation and Imaging Services. MSC is headquartered in Jacksonville,Fla. For more information, visit www.YourMSC.com .
About Express Scripts
Express Scripts, Inc. (Nasdaq: ESRX) is one of the largest PBM companiesin North America, providing PBM services to thousands of client groups,including managed-care organizations, insurance carriers, employers,third-party administrators, public sector, workers' compensation, andunion-sponsored benefit plans. Express Scripts is headquartered in St. Louis,Missouri. More information can
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