Express Scripts in Binding Agreement with MSC for the Purchase of its Pharmacy Service... ( JACKSONVILLE Fla. June 13 /PRNews...)

Express Scripts in Binding Agreement with MSC for the Purchase of its Pharmacy Services Division

Date:6/13/2008

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

Express Scripts, Inc. (Nasdaq: ESRX) is one of the largest PBM companies in North America, providing PBM services to thousands of client groups, including managed-care organizations, insurance carriers, employers, third-party administrators, public sector, workers' compensation, and union-sponsored benefit plans. MSC, a leading service provider in workers' compensation, will now focus solely on its ancillary business and enhance its capabilities and technologies in that growing market. The company has four ancillary business lines: Durable Medical Equipment, Home Health Nursing Services, Translation / Transportation and Imaging Services.

"Both our pharmacy and ancillary customers should benefit greatly from this agreement," said Joe Delaney, MSC's President and CEO. "For our pharmacy customers, this deal will combine the best practices of MSC and Express Scripts, both of which have a strong reputation for providing high quality PBM service to workers' compensation clients. For our ancillary customers, this deal enables MSC to put greater focus and investment in the ancillary market, which has very different needs and is vastly under-penetrated from a network perspective."

"Express Scripts sees tremendous value in our Pharmacy Services division because of our reputation for developing innovative technologies tailored to the needs of workers' compensation cli
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SOURCE Medical Services Company
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