logo
Share SHARE
FONT-SIZE Plus   Neg

Express Scripts Closes $29.1 Bln Medco Health Solutions Acquisition -Quick Facts

Express Scripts (ESRX) completed its $29.1 billion acquisition of Medco Health Solutions. The new Express Scripts combines clinical expertise and innovative applications of behavioral science to enhance patient health while driving down the cost of healthcare. Combining the companies' complementary offerings would create better models of care and improve patients' adherence to prescribed treatment regimens.

Commenting on the merger, George Paz, chairman and chief executive officer, Express Scripts stated, "It represents the next chapter of our mission to lower costs, drive out waste in healthcare and improve patient health. We remain focused on formulary management, channel management and closing gaps in care, which will allow us to further improve the health of people with chronic and complex medical conditions."

Following consummation of the purchase, each share of pre-closing Medco common stock was converted into the right to receive $28.80 in cash, without interest and 0.81 common shares of the new Express Scripts, a holding company which would own 100% of each of the existing Express Scripts and Medco, and each share of the pre-closing Express Scripts common stock was converted into one share of new Express Scripts common stock.

As already announced, the company expects synergies of $1 billion once fully integrated, representing nearly 1 percent of the combined company's costs. The transaction is expected to be slightly accretive to earnings per share, excluding integration and deal-related costs and charges, in the first full year after closing and moderately accretive once fully integrated.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. has confirmed that the iPhone 6s battery issue may be larger than thought, as the tech giant said that some customers "outside the affected range of devices" have also reported unexpected shutdowns. The company again stressed that it is not a security issue. Tesla Motors Inc. voluntarily recalled more than 7000 charging adapters. The company said these adapters of Nema 14-30, 10-30 and 6-50 are sold separately as accessories. Earlier in November, two customers had complained about overheating issue of Nema 14-30 charging adapters. Tesla confirmed in its recall communication that there were no other similar incidents or reports of injuries or proper Sony announced Project Field, a new play way to bring card games to life, along with a host of smartphone games at an event in Japan, aiming to accelerate mobile drive. Project Field is a Japan-only card collection platform where actual physical cards will work with a smartphone app. The first title to be announced is based on Yo-kai Watch for mobile. There is no news about an international releas
comments powered by Disqus
Follow RTT