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Medco Health Solutions, Inc.

Type	Public (NYSE: MHS)
Founded	2003
Headquarters	Franklin Lakes, New Jersey
Key people	David B. Snow, Jr., Chairman and Chief Executive Officer Kenneth O. Klepper, President and Chief Operating Officer
Industry	Healthcare
Products	Pharmacy Benefit Management
Revenue	▲ $51.3 Billion USD (2008)
Net income	▲ $1.1 Billion USD (2008)
Employees	22,000
Website	www.medcohealth.com

Medco Health Solutions, Inc (NYSE: MHS) is a health care company currently serving more than 60 million people. Medco provides pharmacy services for private and public employers, health plans, labor unions, government agencies, and individuals served by Medicare Part D Prescription Drug Plans. Medco is a member of the S&P 500 and is ranked number 51 on the Fortune 500 list, with 2008 revenues of more than $51 billion.

Contents 1 History 1.1 Lawsuit 1.2 Acquisitions 2 Pharmacies 3 References 4 External links

[edit] History

Medco became an independent in August 2003.^[1] As a subsidiary of Merck & Co., Inc, the company was known as Merck-Medco Managed Care, L.L.C; before that it was Medco Containment Services, Inc., founded in 1983 by Martin Wygod. It was named one of Fortune magazine’s 2008 World's Most Admired Companies, ranking No. 1 in the Healthcare: Pharmacy and Other Services sector for the second consecutive year.

[edit] Lawsuit

In 2004 Medco settled a lawsuit brought by 20 states alleging that they failed to disclose incentives they received from drug companies and improperly switched or pressured doctors to switch patient's medication in pursuit of profit. ^[2]

[edit] Acquisitions

In 2005 Medco acquired Accredo Health for $2.2 billion^[3], a large specialty pharmaceutical operation, including a division that Accredo Health purchased from Gentiva Health Services in 2002.

In 2007 Medco acquired Polymedica Corporation, a leading source for diabetes services and supplies with its consumer brand Liberty Medical^[4].

In April 2008, Medco acquired a majority interest in Europa Apotheek Venlo B.V., a privately held company based in the Netherlands that provides clinical health care and mail-order pharmacy services in Germany and the Netherlands, and in March 2008, Medco launched a collaboration with Sweden’s government-operated retail pharmacy authority, Apoteket, to develop and test the first automated electronic prescription review system to improve clinical and financial outcomes for Swedish patients and the country’s health care system.

[edit] Pharmacies

Medco operates nine mail-order pharmacies and six call center pharmacies, and it partners with a nationwide network of approximately 60,000 retail pharmacies. Medco’s automated pharmacies located in Las Vegas and Willingboro, NJ, together have the capacity to fill more than 2 million prescriptions per week. Medco commenced construction of a third, next-generation automated dispensing pharmacy in Whitestown, Indiana, which is expected to be operational by late 2009.

Medco’s mail-order business generated $22 billion in 2008 net revenues and is one of the largest pharmacy operations in the United States. In 2008, 105.8 million of the 586 million prescriptions Medco filled were processed through its mail-order pharmacies.

Medco holds 27 U.S. patents for patient data management, front-end pharmacy technology and automated pharmacy technology.

[edit] References

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[edit] External links

• Medco Corporate Website
• Europa Apotheek Venlo Website