"This transaction provides a unique and compelling opportunity to improve our integrated health benefits offerings to our members, while simultaneously delivering significant value to our shareholders," said Angela F. Braly, president and CEO of WellPoint. "As health care costs continue to be a concern to our customers, members and the nation as a whole, we are very focused on initiatives that keep health benefits affordable. Importantly, through this strategic alliance with Express Scripts, we will enhance the health care value we bring to our members. This alliance will create an organization with greater resources and capabilities, which will provide members with more cost-effective solutions as well as access to state-of-the-art PBM services."
Braly added, "WellPoint continues to be an industry leader in providing integrated medical and pharmacy benefits. This relationship with Express Scripts will strengthen and accelerate our ability to execute on our integrated health benefits model."
Both companies have impressive track records of successful integrations, resulting in exceptional member satisfaction and client retention. The transition to Express Scripts' platform and products will be staged to ensure consistency of benefits and pharmacy services to members. WellPoint will retain control of medical policy, formulary and integrated disease management, and will work alongside Express Scripts to offer best-in-class pharmacy management and data analytics. WellPoint members will gain access to better Web, home delivery and customer service capabilities, and clients will benefit from enhanced reporting.
The transaction is expected to close in the second half of 2009, subject to customary closing conditions and the expiration of the waiting period under the Hart-Scott-Rodino Antitrus
|SOURCE WellPoint, Inc.|
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