Tuesday, pharmacy benefit manager Medco Health Solutions, Inc. (MHS) announced the acquisition of DNA Direct, Inc., a provider of genetic testing services based in San Francisco, and said it is committed to the use of personalized medicine in daily practice in health care. Financial details of the acquisition were not disclosed.
By integrating DNA Direct's physician, client, and patient support services and capabilities with Medco's portfolio of personalized medicine capabilities and extensive customer base, Medco intends to deliver a broader suite of precision health services, ranging from consumer education to clinical decision support, the company said.
DNA Direct helps to ensure the appropriate use of the more than 2,000 genetic and molecular tests available today and helps physicians and patients determine if genetic tests are appropriate and how to use genetic test results to guide clinical decisions. Acquisition of DNA Direct further expands Medco's specialist pharmacy division, which informs physicians and patients about potential therapy adjustments to ensure the safety and efficacy of the treatment.
Talking about personalized medicine and the acquisition of DNA Direct, Robert Epstein, chief medical officer of Medco, said, "By integrating proven state-of-the-art science into every day care, we are providing patients and providers with actionable information that drives more personalized care to achieve higher efficacy or improved safety. We have already started this today with our existing Personalized Medicine programs. DNA Direct will serve to accelerate our speed-to-market implementation capabilities, transforming research into actionable services to meet the demands of our clients and patients."
David Snow Jr., chief executive officer of Medco, said, "DNA Direct has been a recognized pioneer in assimilating knowledge about molecular diagnostic testing and deploying certified genetics professionals to help rationalize the opportunities and implications faced by many in this new and rapidly evolving field."
Ryan Phelan, founder and chief executive officer of DNA Direct, said, "Medco is simply the most innovative and forward thinking health care company in the industry today. Having spent the past 25 years as an entrepreneur translating health care information to patients, I can't think of a better partner to take personalized medicine to the next level."
MHS is gaining $1.00 or 1.60%, and is trading at $63.52 on a volume of 1.40 million shares on the New York Stock Exchange.
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