Medco Health Solutions, United Drug Announce U.K. Homecare Pharmacy Joint Venture Serving Patients with Chronic and Complex Health Conditions; Innovations to Improve Clinical Quality, Reduce Costs
FRANKLIN LAKES, N.J. and LONDON, Aug. 13 Medco Health Solutions, Inc., (NYSE: MHS), the world's most advanced pharmacy(R), today extended its initiatives addressing healthcare in Europe by entering into a joint venture with United Drug plc, a Pan-European healthcare leader, to provide home-based pharmacy care services in the United Kingdom for patients covered by the country's National Health Service (NHS). The NHS provides healthcare services for more than 95 percent of the U.K.'s 60 million residents.
The joint venture, which will operate in the U.K. as Medco Health Solutions, plans to offer patients treated within the NHS system a comprehensive suite of homecare services ranging from prescription drug dispensing and home-delivery, to on-site nursing for the administration of oral, injectable and infused agents, and case-management capabilities.
The joint venture company will work closely with the NHS to ensure the service offerings fully meet the U.K. health system's requirements, while providing high quality clinical care and helping the NHS to moderate costs.
"We share the NHS' urgent imperative to provide a broad spectrum of advanced services associated with the treatment of patients with chronic and complex conditions. Homecare pharmacy services have a proven track record for delivering quality, choice and convenience - providing an exceptional patient experience that is also financially responsible," said John Driscoll, president, New Markets, Medco Health Solutions, Inc.
United Drug Chief Executive Liam FitzGerald, added: "United Drug's experienced healthcare professionals, advanced distribution capability and deep NHS knowledge complement Medco's innovative technologies, clinical expertise and financial resources to accelerate our ability to deliver these critical capabilities across the United Kingdom and meet NHS' goals of providing world-class care."
Homecare pharmacy services currently comprise about $1.6 billion of the U.K.'s prescription drug spending. Over the past five years, investments associated with these services have grown at an annual rate exceeding 20 percent.
The companies estimate that as much as 96 percent of all pharmacy costs and 70 percent of overall healthcare costs in the U.K. are related to the care of patients with chronic and complex conditions. Where appropriate, providing the support and infrastructure that enables care to transfer from the hospital or clinic to the home fundamentally lowers the cost curve, while at the same time increasing access to focused and facilitated care - improving patient outcomes.
Note to the Editor:
Further information for healthcare professionals on Medco Health Solutions UK is available from http://www.medcohealth.co.uk.
Medco Health Solutions, Inc. (NYSE: MHS) is pioneering the world's most advanced pharmacy(R) and its clinical research and innovations are part of Medco making medicine smarter(TM) for more than 60 million Americans. Its growing portfolio of international engagements serves healthcare communities in Sweden, Germany and, most recently, the United Kingdom.
With more than 20,000 employees dedicated to improving patient health and reducing costs for a wide range of public and private sector clients, and 2008 revenue exceeding $51 billion, Medco ranks 45th on the Fortune 500 list and is named among the world's most innovative, most admired and most trustworthy companies.
For more information, go to http://www.medcohealth.com.
About United Drug plc
With its international headquarters in Dublin, United Drug plc is a leading international provider of services to pharmaceutical manufacturers and healthcare providers with operations in the UK, Ireland, Holland, Belgium and the USA. The company operates across three divisions, Healthcare Supply Chain, Packaging & Speciality Services, and Contract Personnel Services. It provides specialist distribution services throughout the UK.
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the risks and uncertainties that affect our business, particularly those mentioned in the Risk Factors section of the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
SOURCE Medco Health Solutions, Inc.
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