Proof's in the Numbers: Rating Based on Quality Accounting and Management
FRANKLIN LAKES, N.J., April 6 /PRNewswire-FirstCall/ --While current market turmoil has investors wondering about the safety of their savings, Forbes listed Medco Health Solutions, Inc. (NYSE: MHS) as one of "The 100 Most Trustworthy Companies." Forbes published its listing based upon Audit Integrity's ranking of corporate accounting and management practices.
"When we took our company public more than five years ago, our intent was to redefine our industry through clinical excellence, innovation, transparency and accountability," Chairman and CEO David B. Snow Jr. said. "We are honored by Forbes' recognition as one of the most trustworthy companies in America. We are, however, even more delighted by the confidence expressed in our company and our people by our clients and members, who on a daily basis rely on Medco as their trusted healthcare advisor."
Audit Integrity has provided Forbes with its list of the most trustworthy companies for three years, where it judged companies for having "consistently shown transparent and conservative accounting practices and solid corporate governance and management. These companies do not play games with revenue and expense recognition, or with asset valuation," the Forbes article said. Audit Integrity, an independent financial analytics company in Los Angeles, scans more than 8,000 companies listed on U.S. stock exchanges and assigns each an accounting and governance risk (AGR) score.
Medco's score placed it among the top ten large-cap publicly traded companies with Loews, Consolidated Edison, Kohl's, and Linear Technology. Companies with higher scores have generally outperformed the market and have shown less share price volatility, according to Audit Integrity. Low accounting and governance risk scores "have been proven to carry a much higher risk profile," leading to higher odds of SEC enforcement actions, delayed financial reporting, shareholder lawsuits and bankruptcy, Audit Integrity said.
Medco Health Solutions, Inc (NYSE: MHS) is a leading health care company, serving the needs of more than 60 million people. Medco, the world's most advanced pharmacy(R), provides clinically driven pharmacy services designed to improve the quality of care and lower total health care costs for private and public employers, health plans, labor unions and government agencies of all sizes, and for individuals served by Medicare Part D Prescription Drug Plans. Through its unique Medco Therapeutic Resource Centers(R) and the Accredo Health Group, Medco's Specialty Pharmacy, the company is creating innovative models for the care of patients with chronic and complex conditions. Medco is a leader in the emerging field of personalized medicine and in applying evidence-based protocols to elevate the practice of pharmacy -- a key element in reforming America's health care system. Medco is ranked number 51 on the Fortune 500 list, with 2008 revenues of more than $51 billion. For more information about Medco, go to http://www.medcohealth.com.
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.|
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