JACKSONVILLE, Fla., June 13 /PRNewswire/-- Express Scripts has enteredinto a binding agreement to purchase the Pharmacy Services Division of MSC --Medical Services Company. MSC, which previously consisted of two distinctunits -- pharmacy and ancillary -- will retain the MSC brand and allemployees, products and services not associated with the pharmacy 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.
