FRANKLIN LAKES, N.J. and LONDON, Aug. 13 /PRNewswire-FirstCall/ -- 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.
