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Medco Announces Agreement to Acquire United BioSource Corporation: A Global Medical Research and Scientific Services Leader to Advance Drug Safety and Knowledge
Date:8/16/2010

0;The acquisition of UBC represents Medco's ongoing commitment to provide innovation and value in healthcare, extending our global footprint into the areas of health information technology, information services and research," said David B. Snow Jr., Medco Chairman and CEO.  "UBC's products and services broaden the Medco portfolio consistent with our core mission of making medicine smarter through the generation, translation and application of evidence critical to the delivery of high-quality, cost-efficient care that improves patient outcomes."  

The transaction, which will be funded through Medco's free cash and existing debt facilities, is subject to customary regulatory approvals and is expected to close in the third quarter of 2010.  The new business is expected to be slightly accretive to Medco shareholders in 2011, excluding one-time items and amortization.

"At UBC, our scientists are focused on delivering actionable evidence to guide the safe and effective use of biopharmaceuticals and enhance the quality and value of health care.  The focus on evidence, value and real-world effectiveness research will remain a core focus of the UBC business," said Ethan Leder, UBC CEO, who founded the company in 2003 with President and CFO, Mark Clein.  "Medco provides our team of industry-leading experts with an array of exciting new resources to accelerate growth, including opportunities to collaborate with its clients and contribute to the mission of delivering the right drug to the right patient at the right time."

Upon closing the transaction, UBC would become a wholly-owned subsidiary of Medco that will be run independently from Medco's core business to ensure compliance with contractual requirements and client expectations.

"Prior to this transaction, we completed several meaningful studies with our clients to evaluate the impact of emerging technologies on health outcomes," said Dr. Robert Epstein, Medco's chief me
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SOURCE Medco Health Solutions, Inc.
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