The deal will transform Medco into the industry’s most comprehensive full-service pharmacy benefit provider, offering a broad spectrum of prescription medicines and integrated clinical services and support.
Specialty pharmacy represents one of the most rapidly growing sectors of prescription health care, and this acquisition creates a strong platform for Medco’s future growth in this market.
“We believe manufacturers, physicians, payors and the valued patients we serve will realize considerable benefits from the combination of our offering with Medco’s sophisticated business model, overall scale and impressive client base,” said David Stevens, chairman and CEO of Accredo.
To maximize Accredo’s relationships, Medco intends to manage the company as an independent business, retaining its successful business model, brands, culture and focus.
The new business will report to Kenny Klepper, Medco’s executive vice president and COO, with Stevens serving as CEO for the combined specialty business.