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news.Express Scripts has closed the acquisition of the workers' compensation pharmacy benefit management business of Medical Services Company from Monitor Clipper Partners, a private equity investment firm.
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Under the terms of the agreement, Express Scripts acquired the business and related assets for $248 million, subject to certain purchase price adjustments. The transaction is expected to be neutral to Express Scripts earnings in 2008 and slightly accretive in 2009.
George Paz, Express Scripts chairman & CEO, said: “We’re pleased that Medical Services Company (MSC) Pharmacy Services is now part of Express Scripts. Their addition will enhance our leadership in using proven pharmacy benefit management cost-management tools to drive down costs and improve health outcomes.”