"PolyMedica has developed a deep expertise and focus in diabetes care and, through the Liberty brand, excels at attracting seniors to their high-value mail-order pharmacy," said David B. Snow Jr., Medco chairman and chief executive officer. "We will continue to invest strategically in capabilities supporting our Therapeutic Resource Centers(R) - which deliver both clinical and financial benefits to our clients and members, and differentiate Medco in the marketplace."
Patrick T. Ryan, PolyMedica chief executive officer, added: "Combining Medco's clinical care solutions with our patient-centric service model enables us to deliver a gold standard of care to patients with diabetes. After doubling our business in the past three years, this provides PolyMedica with the resources to take our service model to the next level. There is a natural cultural fit between our organizations driven by an unwavering commitment to clinical excellence and customer service."
Medco currently manages more than $6.5 billion in drug spending related to its 2.8 million patients under treatment for diabetes. The PolyMedica acquisition brings 1 million members under care and creates the nation's most advanced large-scale practice focused on diabetes-related pharmacy care. Snow said Medco's shareholders will benefit from incremental earnings growth as a result of the transaction, which is expected to be slightly accretive in 2008.
Through its industry-leading direct-to-consumer television and multimedia campaign under the Liberty brand, PolyMedica has enhanced its reputation for a specialized high-touch, patient-centric model. "We expect PolyMedica's brand strength and media profile to prove an important asset to support Medco's growing Medicare and direct-to-consumer initiatives," Snow said.
PolyMedica will retain its successful patient engagement and service
model, Liberty brand, cu
|SOURCE Medco Health Solutions, Inc.|
Copyright©2007 PR Newswire.
All rights reserved