Express Scripts to Spin-off Rx Outreach to Create Nonprofit Offering Prescription Medicines
ST. LOUIS, Jan. 26 Express Scripts, Inc., one of the largest pharmacy benefit management companies in North America, today announced it will create a new independent, nonprofit charitable organization to improve access to prescription medicines for low-income, uninsured Americans and working families. Express Scripts will donate Rx Outreach, a for-profit business unit, to establish the new organization, which will partner with healthcare professionals and other entities committed to serving those in need.
Originally established to meet the needs of those with few options to obtain safe, affordable prescription drugs, Rx Outreach's new structure as a nonprofit will serve as a catalyst for public, private and charitable interests to work together to bring appropriate drug therapies to those who have limited or no access today. With a current adjusted prescription count of 1.2 million per year, the new organization is equipped to address the significant potential to serve a growing uninsured population estimated to be over 20 million by 2019. In addition, the opportunity to develop expanded partnerships with branded and generic pharmaceutical manufacturers, community health centers, rural and frontier clinics, and faith-based charities will allow Rx Outreach the potential to offer a broader level of service.
The organization will be located in St. Louis and led by Michael Holmes, Executive Vice President of Express Scripts. Holmes will remain with Express Scripts until a replacement is identified, at which time he will lead the new venture. "While I am sorry to be leaving Express Scripts, this is a tremendous opportunity to make a sustainable difference on the healthcare landscape," stated Holmes. "I applaud Express Scripts for its creativity and vision, and personally am thrilled to lead such a noble effort."
In creating the new charitable organization, Express Scripts will support Rx Outreach during its transition period through to its successful launch as a new nonprofit organization.
"Express Scripts' donation will assist deserving Americans in obtaining better access to the safe and affordable drugs they need," said George Paz, Chairman and CEO of Express Scripts. "I am pleased that Rx Outreach will play a new and expanding role in providing these benefits, and I'm confident that Michael Holmes will make a significant contribution toward making this happen."
About Express Scripts, Inc.
Express Scripts, Inc., one of the largest pharmacy benefit management companies in North America, is leading the way toward creating better health and value for patients through Consumerology(SM), the advanced application of the behavioral sciences to healthcare. This approach is helping millions of members realize greater healthcare outcomes and lowering cost by assisting in influencing their behavior. Headquartered in St. Louis, Express Scripts provides integrated PBM services including network-pharmacy claims processing, home delivery services, specialty benefit management, benefit-design consultation, drug-utilization review, formulary management, and medical and drug data analysis services. The company also distributes a full range of biopharmaceutical products and provides extensive cost-management and patient-care services. More information can be found at www.express-scripts.com and www.consumerology.org.
Media Contact: Mark Stephenson 314.684.5273 MAStephenson@express-scripts.com
SOURCE Express Scripts, Inc.
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