FRANKLIN LAKES, N.J. and DUSSELDORF, Germany, April 8, 2008 /PRNewswire-FirstCall/ -- Medco Health Solutions, Inc., (NYSE: MHS), which developed and manages the world's largest and most advanced pharmacies, today announced it has acquired a majority interest in Europa Apotheek Venlo, a privately held company providing clinical health care and mail-order pharmacy services in Germany.
Founded in 2001, Europa Apotheek is one of Europe's leading mail-order pharmacies, serving the Dutch and German health care markets from its operations, which are based in the Netherlands.
Germany is Europe's fastest-growing market for pharmacy health care services, with $35 billion in annual spending, growing at a rate of 5 percent per year. Mail-order pharmacy services are expected to reach $3 billion by 2012, as consumers and payors with increasing frequency embrace the convenience, safety and cost savings provided through mail-order.
Europa Apotheek specializes in treating patients with chronic diseases, such as diabetes, heart disease, arthritis, multiple sclerosis and HIV. Europa Apotheek also provides a centralized dispensing-by-mail service through drop-off locations in Drogerie Markt stores, Germany's second largest drug store chain - a distribution model consistent with Medco's central-fill service, originally pioneered in the United States.
Under the transaction, which is subject to regulatory review in Germany, Medco acquired a majority equity interest in Europa Apotheek for approximately $120 million, with additional future consideration for achieving performance targets.
"With shared values focused on improving clinical care and patient
safety, Europa Apotheek and its management team will extend its leadership
|SOURCE Medco Health Solutions, Inc.|
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