Express Scripts Completes Acquisition of WellPoint's NextRx Subsidiaries
01 Décembre 2009 - 12:00PM
PR Newswire (US)
Long-term strategic alliance presents transformative opportunity to
advance healthcare in America ST. LOUIS and INDIANAPOLIS, Dec. 1
/PRNewswire-FirstCall/ -- Express Scripts, Inc. (NASDAQ:ESRX), and
WellPoint, Inc. (NYSE:WLP), announced today the closing of Express
Scripts' acquisition of WellPoint's NextRx subsidiaries. (Logo:
http://www.newscom.com/cgi-bin/prnh/20091201/CG18660LOGO) (Logo:
http://www.newscom.com/cgi-bin/prnh/20080827/EXPRESSSCRIPTSLOGO)
The transaction includes a 10-year agreement under which Express
Scripts, one of the largest pharmacy benefits management companies
in North America, will provide pharmacy benefits management
services, including home delivery and specialty pharmacy services,
to members of the affiliated health plans of WellPoint, one of the
nation's largest health benefits companies. Express Scripts
acquired the NextRx subsidiaries for $4.675 billion, which includes
consideration for the value of a future tax benefit for Express
Scripts based on the structure of the transaction. "Two industry
leaders have aligned in an unprecedented way to promote better
health and value for millions of Americans," said George Paz,
chairman and CEO of Express Scripts. "At this pivotal moment in
American healthcare, the strategic alliance opens new horizons for
improving outcomes for members while driving down overall
healthcare costs." The two companies will leverage integrated
medical and pharmacy data for a more holistic view of members'
health and related behaviors. WellPoint will seek to improve the
effectiveness of its unparalleled clinical competencies through the
success of Consumerology(SM), Express Scripts' powerful application
of the behavioral sciences to help members make better healthcare
decisions. New insights will create potential for innovative
programs that seek to drive improved health outcomes and reduce
costs. "The alliance brings new strength to Express Scripts' and
WellPoint's essential roles in addressing today's critical health
care issues," said Angela F. Braly, president and CEO of WellPoint.
"As each organization expands the value of its leading
health-information technologies, clinical expertise and thought
leadership, the alliance will drive innovation in the development
and implementation of integrated health benefits." Plan sponsors
and members will gain from industry-leading programs and shared
best practices from both organizations. Healthcare administrators
will achieve greater insight into drug trends and usage through
Express Scripts' innovative reporting and modeling tools. "Express
Scripts has completed several acquisitions in the last decade, and
is well prepared and ready to succeed," said Paz. "Express Scripts
and WellPoint have developed an integration plan designed to ensure
a smooth transition for members, clients and employees." About
Express Scripts, Inc. Express Scripts, Inc., is one of the largest
PBM companies in North America, providing PBM services to thousands
of client groups, including managed-care organizations, insurance
carriers, employers, third-party administrators, public sector,
workers' compensation and union-sponsored benefit plans. Express
Scripts provides integrated PBM services, including
network-pharmacy claims processing, home delivery services,
benefit-design consultation, drug-utilization review, formulary
management, and medical- and drug-data analysis services. The
company also distributes a full range of biopharmaceutical products
directly to patients or their physicians, and provides extensive
cost-management and patient-care services. Express Scripts is
headquartered in St. Louis. More information can be found at
http://www.express-scripts.com/, which includes expanded investor
information and resources. More information on the Center for
Cost-Effective Consumerism can be found at
http://www.consumerology.org/. About WellPoint, Inc. WellPoint
works to simplify the connection between Health, Care and Value. We
help to improve the health of our communities, deliver better care
to members, and provide greater value to our customers and
shareholders. WellPoint is the nation's largest health benefits
company, with more than 34 million members in its affiliated health
plans. As an independent licensee of the Blue Cross and Blue Shield
Association, WellPoint serves members as the Blue Cross licensee
for California; the Blue Cross and Blue Shield licensee for
Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri
(excluding 30 counties in the Kansas City area), Nevada, New
Hampshire, New York (as the Blue Cross Blue Shield licensee in 10
New York City metropolitan and surrounding counties and as the Blue
Cross or Blue Cross Blue Shield licensee in selected upstate
counties only), Ohio, Virginia (excluding the Northern Virginia
suburbs of Washington, D.C.), Wisconsin; and through UniCare.
Additional information about WellPoint is available at
http://www.wellpoint.com/ EXPRESS SCRIPTS SAFE HARBOR STATEMENT
This press release contains forward-looking statements, including,
but not limited to, statements related to the Company's plans,
objectives, expectations (financial and otherwise) or intentions,
including with respect to the proposed transaction with WellPoint
and the expected benefits therefrom. Actual results may differ
significantly from those projected or suggested in any
forward-looking statements. Factors that may impact these
forward-looking statements can be found in the Management's
Discussion and Analysis of Financial Condition and Results of
Operations in our Form 10-K and other public filings with the SEC.
Copies of our filings can be found at the investor relations
section of Express Scripts website at
http://www.express-scripts.com/. We do not undertake any obligation
to release publicly any revisions to such forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events. WELLPOINT
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 This document contains certain forward-looking
information about us that is intended to be covered by the safe
harbor for "forward-looking statements" provided by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not generally historical facts.
Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may",
"anticipate(s)", "intend", "estimate", "project" and similar
expressions are intended to identify forward-looking statements,
which generally are not historical in nature. These statements
include, but are not limited to, financial projections and
estimates and their underlying assumptions; statements regarding
plans, objectives and expectations with respect to future
operations, products and services; and statements regarding future
performance. Such statements are subject to certain risks and
uncertainties, many of which are difficult to predict and generally
beyond our control, that could cause actual results to differ
materially from those expressed in, or implied or projected by, the
forward-looking information and statements. These risks and
uncertainties include: those discussed and identified in our public
filings with the SEC; increased government participation in, or
regulation or taxation of health benefits, managed care and PBM
operations; trends in health care costs and utilization rates; our
ability to secure sufficient premium rate increases; our ability to
contract with providers consistent with past practice; competitor
pricing below market trends of increasing costs; reduced
enrollment, as well as a negative change in our health care product
mix; risks and uncertainties regarding Medicare and Medicaid
programs, including those related to non-compliance with the
complex regulations imposed thereon, funding risks with respect to
revenue received from participation therein and CMS sanctions; a
downgrade in our financial strength ratings; litigation and
investigations targeted at health benefits companies and our
ability to resolve litigation and investigations within estimates;
our ability to meet expectations regarding repurchases of shares of
our common stock; decreased revenues, increased operating costs and
potential customer and supplier losses and business disruptions
that may be greater than expected following the close of the
Express Scripts transaction; events that result in negative
publicity for us or the health benefits industry; failure to
effectively maintain and modernize our information systems and
e-business organization and to maintain good relationships with
third party vendors for information system resources; events that
may negatively affect our license with the Blue Cross and Blue
Shield Association; possible impairment of the value of our
intangible assets if future results do not adequately support
goodwill and other intangible assets; intense competition to
attract and retain employees; unauthorized disclosure of member
sensitive or confidential information; changes in the economic and
market conditions, as well as regulations that may negatively
affect our investment portfolios and liquidity; possible
restrictions in the payment of dividends by our subsidiaries and
increases in required minimum levels of capital and the potential
negative effect from our substantial amount of outstanding
indebtedness; general risks associated with mergers and
acquisitions; various laws and our governing documents may prevent
or discourage takeovers and business combinations; future
bio-terrorist activity or other potential public health epidemics;
and general economic downturns. Readers are cautioned not to place
undue reliance on these forward-looking statements that speak only
as of the date hereof. Except to the extent otherwise required by
federal securities law, we do not undertake any obligation to
republish revised forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. Readers are also urged to carefully review
and consider the various disclosures in our SEC reports. Contacts:
Express Scripts Investor Relations Contacts: Jeff Hall, Chief
Financial Officer David Myers, Vice President (314) 810-3115 Media
Contact: Maria Palumbo, Director (314) 684-6438 WellPoint Media
Contact: Cheryl Leamon, Director (317) 488-6748 Investor Relations
Contact: Michael Kleinman, Vice President (317) 488-6713
http://www.newscom.com/cgi-bin/prnh/20091201/CG18660LOGO
http://www.newscom.com/cgi-bin/prnh/20080827/EXPRESSSCRIPTSLOGO
http://photoarchive.ap.org/ DATASOURCE: Express Scripts; WellPoint,
Inc. CONTACT: Investor Relations, Jeff Hall, Chief Financial
Officer, or David Myers, Vice President, +1-314-810-3115, , or
Media, Maria Palumbo, Director, +1-314-684-6438, , all of Express
Scripts; or Media, Cheryl Leamon, Director, +1-317-488-6748, or
Investor Relations, Michael Kleinman, Vice President,
+1-317-488-6713, both of WellPoint Web Site:
http://www.express-scripts.com/ http://www.consumerology.org/
http://www.wellpoint.com/
Copyright