Navigation Links
Medco Acquires Majority Interest in Europa Apotheek; Delivering Innovation, Clinical Quality and Lower-Cost Solutions to Fast-Growing German Health Care Market
Date:4/8/2008

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 in helping to ensure that quality pharmacy care is increasingly affordable in one of the world's fastest-growing healthcare economies," said John Driscoll, Medco president for New Markets.

"German health care providers must achieve financial stability, and our innovative approach to pharmacy care is increasingly providing a more affordable solution. Our desire to deliver unmatched clinical excellence, dispensing accuracy and cost reduction is perfectly aligned with Medco's strengths, which will enhance our ability to serve our patients and accelerate our growth," said Klaus Gritschneder, Europa Apotheek board member.

Driscoll credited Europa Apotheek's executive leadership team for the company's rapid growth and continued success. He noted their commitment to improving clinical and financial outcomes for patients and payors is well-matched with Medco's.

"This is a logical extension of our international strategy - leveraging our proven proprietary technologies and, with best-of-breed-partners, delivering solutions to the challenges of managing health care costs and improving clinical care abroad," Driscoll said.

In addition to improving clinical quality, Medco's expertise in distribution, productivity, Six-Sigma process control and purchasing will help to create greater efficiencies for Europa Apotheek, improve patient safety and reduce costs in Germany's health care delivery system.

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 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. Medco, the world's most advanced pharmacy(TM), is positioned to serve the unique needs of patients with chronic and complex conditions through its Medco Therapeutic Resource Centers(R); its diabetes pharmacy care practice, Liberty Medical; and its specialty pharmacy operation, Accredo Health Group, Inc. Medco is the highest-ranked independent pharmacy benefit manager on the 2007 Fortune 500 list. On the Net: http://www.medco.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.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. MedCom USAs Subsidiary Card Activation Technologies, Inc.s SB2 Registration Declared Effective by SEC
2. Medco Unveils Three New Medicare Prescription Drug Plan Options for 2008 to Provide Seniors More Choice, Better Value and Specialist Pharmacists
3. Medco Announces Date for Third-Quarter 2007 Financial Results
4. Six Olympic Legends Battling Chronic Diseases Lead Revolution in Advancing Pharmacy Care as Medco Launches the Tour of Champions
5. Medco, LabCorp Strike Strategic Agreement for Research on Personalized Medicine and Pharmacogenomics
6. Medco to Build Worlds Largest, Most Advanced Automated Pharmacy in Central Indiana
7. Medco Elects Myrtle Potter, William Roper to Board of Directors
8. Medco CEO to Present at the Merrill Lynch & Co., Inc. 2007 Health Services Investor Conference
9. Medco Announces Two-For-One Stock Split
10. URAC Names Medco as a Finalist in First-ever Best Practices in Consumer Empowerment and Protection Awards
11. MedcomSoft appoints former U.S. presidential health advisor, James Haveman, to health Care advisory board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/22/2017)... ... August 22, 2017 , ... Pivot ... addition of Zack Tisch as the firm’s new Consulting Services Executive. Mr. Tisch ... firm’s national accounts, from assisting clients with initial vendor selection and pre-implementation planning ...
(Date:8/22/2017)... ... August 22, 2017 , ... “To Walk Away”: a captivating and romantic ... Edward Koontz. “To Walk Away” is the creation of published author, Larry R. Sherman, ... hundred manuscripts in chemistry and religion, as well as four novels. , Though ...
(Date:8/22/2017)... ... August 22, 2017 , ... ... the Founder and Managing Member for t4 Leadership Development & Consulting. He has ... his definition of “success”: physician leadership development, servant leadership, data driven process improvement, ...
(Date:8/21/2017)... (PRWEB) , ... August 22, 2017 , ... ... but not without risk to health and safety. By learning and implementing best ... eliminated. , In this webinar, attendees will gain a better understanding of ...
(Date:8/21/2017)... ... August 21, 2017 , ... Five chefs from local senior assisted living ... Center. , Guests will be able to vote for their favorite Chef among ... with Fennel Dill Salad, Feta Cheese Sauce & Garlic Pita Crisp, Greek Mountain Ice ...
Breaking Medicine News(10 mins):
(Date:8/2/2017)... , Aug. 2, 2017 ... Who,s Who as a Pinnacle Lifetime Professional in ... Key Account Manager at Turing Pharmaceuticals, AG. Her ... troubleshooting and relationship building.                ... more than 25 years of experience as a ...
(Date:7/31/2017)... Pharmacy, Inc. (NYSE: DPLO), has been named one of the ... Crain,s Detroit Business . The annual Crain,s Fast ... growth. This year,s edition measures growth from 2013 to 2016. ... list, visit crainsdetroit.com/awards/fast_50/2017 .  "Being named ... Phil Hagerman , CEO and chairman of Diplomat. "We,ve made ...
(Date:7/27/2017)... 2017  Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) ... 30, 2017.  The Company reported second quarter net sales ... prior year period, and an increase of 2.1% on ... of contribution from the LDR Holding Corporation acquisition, second ... of 2016, or 0.3% on a constant currency basis. ...
Breaking Medicine Technology: