Navigation Links
Coventry Health Care Awards Medicare Pharmacy Services Contract to Medco

FRANKLIN LAKES, N.J., June 23 /PRNewswire-FirstCall/ -- Medco Health Solutions, Inc. (NYSE: MHS) announced it will provide pharmacy services for Coventry Health Care, Inc. (NYSE: CVH), a national managed health care company headquartered in Bethesda, Md.

Medco, the leading independent pharmacy benefits manager, will provide mail, retail and specialty pharmacy services for all of Coventry's Medicare programs, covering approximately one million members with annual drug spend exceeding $2 billion. The agreement will commence on January 1, 2009 and is a multi-year arrangement.

"Coventry viewed our Medco Therapeutic Resource Centers(R) as an important advantage for its members," Chairman and CEO David B. Snow Jr. said. "Our specialist pharmacists help patients manage chronic conditions with a higher level of personalized care. The breadth of our service offerings and our capabilities to meet the needs of Medicare beneficiaries, while making overall health care costs more manageable, truly resonates with clients."

Medco provides its Medicare programs for employers, unions, health plans and individuals. Medco collaborates with clients to ensure they maximize the value from benefits tailored to their budgetary, tax, administrative, and employee needs, as well as their need to manage future obligations to retirees. Medco's programs also provide clinical expertise for seniors, who are the most frequent users of chronic medications.

Last year the company completed the roll out of the Medco Therapeutic Resource Centers (TRCs), culminating three years of development and the process of training specialist pharmacists in specific chronic and complex conditions. At the TRCs, more than 1,100 specialist pharmacists are trained and uniquely experienced to care for patients with specific chronic conditions, including diabetes, heart disease, asthma and neurological disorders. Specialist pharmacists counsel patients about medication safety, minimizing side effects, improving drug compliance, and helping them find the lowest cost alternatives for their medications.

The parties are working towards signing a definitive agreement.

About Coventry Health Care

Coventry Health Care ( is a diversified national managed healthcare company based in Bethesda, Maryland, operating health plans, insurance companies, network rental and workers' compensation services companies. Through its Commercial Business, Individual Consumer & Government Business, and Specialty Business divisions, Coventry provides a full range of risk and fee-based managed care products and services to a broad cross section of individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators.

About Medco

Medco Health Solutions, Inc., (NYSE: MHS) is the nation's leading pharmacy benefit manager based on its 2007 total net revenues of more than $44 billion. Medco's prescription drug benefit programs, covering approximately one in five Americans, are designed to drive down the cost of pharmacy health care for private and public employers, health plans, labor unions and government agencies of all sizes, and for individuals served by the Medicare Part D Prescription Drug Program and those served by its specialty pharmacy segment, Accredo Health Group. Medco, the world's most advanced pharmacy(R), is positioned to serve the unique needs of patients with chronic and complex conditions through its Medco Therapeutic Resource Centers(R), including its enhanced diabetes pharmacy care practice through the Liberty acquisition. Medco is the highest-ranked independent pharmacy benefit manager on the 2008 Fortune 100 list. On the Net:

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.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Coventry and Ritchie Reach Agreement on Protection of Policyowner Information
2. SXC Health Solutions announces three-year $35 million PBM contract with the State of Tennessee
3. Men Wont Ask for Directions - Even About Their Health!
4. Solidica Awarded 2008 Best of Sensors Expo Honor for Breakthrough Battery Health Monitor
5. SFMS David Perlman Award For Excellence in Medical/Health Reporting Recognizes Local Reporters
6. TeamHealth Announces Appointment of Heidi Allen as Senior Vice President and General Counsel
7. Nocturnal Dialysis: A Better Way to Kidney Health
8. Continua Health Alliance to Host Open Meeting at CONNECTIONS(TM) Tuesday, June 24th at 2:30 pm
9. A Healthy Mind Can Help Fight HIV
10. Family Health International Awarded USAID Progress Project to Improve Family Planning and Reproductive Health Programs in Developing Countries
11. Changes in local health care markets affect national patient safety project
Post Your Comments:
(Date:11/28/2015)... ... November 28, 2015 , ... StatRad , ... added Chris Hafey and Claude Hooton to its board of directors. The announcement ... America (RSNA) 2015 Annual Meeting and continues to strategically transform its focus from ...
(Date:11/28/2015)... ... November 28, 2015 , ... Beginning November 30th at 6:00 a.m. EST until 11:59 p.m. EST, ... With possible savings of up to 20% off orders $80 or more to free gifts ... every few hours. , As a competitive e-commerce website for skin care and cosmetic needs, ...
(Date:11/27/2015)... ... November 27, 2015 , ... According to an article published November ... meeting in Washington D.C. revolved around the fact that proper dental care, both at-home ... stressed the link between periodontal disease (more commonly referred to as gum disease) and ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... affecting the health care in America. As people age, more care is needed, ... costs are rising, and medical professionals are being overworked. The forgotten part of ...
(Date:11/27/2015)... ... November 27, 2015 , ... "When ... said an inventor from Hillside, N.J. "Many people catch diseases simply from sitting ... individuals will always be protected from germs." , He developed the patent-pending QUDRATECS ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... 26, 2015 3D bioprinting market ... to a new report by Grand View Research Inc. Rising ... which demands kidney transplantation is expected to boost the market ... for organ transplantation. --> 3D bioprinting market ... to a new report by Grand View Research Inc. Rising ...
(Date:11/26/2015)... November 26, 2015 ... universitetssjukhus ser potential att använda SyMRI för ... för patienter med multipel skleros (MS) ... med SyntheticMR AB för att kunna använda ... sjukhuset. Med SyMRI kan man generera flera ...
(Date:11/26/2015)... Research and Markets ( ) ... Future Horizons and Growth Strategies in the Italian ... Segment Forecasts, Competitive Intelligence, Emerging Opportunities" report ... --> This new 247-page report ... drug monitoring market, including emerging tests, technologies, instrumentation, ...
Breaking Medicine Technology: