Express Scripts has signed $4.7 billion agreement to acquire WellPoint's NextRx pharmacy benefit manager, which manages more than 265 million prescriptions and provides services to 25 million people.
As part of the deal, Express Scripts will provide services to WellPoint for 10 years. The buyout price also includes consideration for the value of a future tax benefit for Express Scripts. The deal is expected to close in the second half of 2009.
NextRx services will be provided through Express Scripts' platform and products while WellPoint will keep control of medical policy, formulary and integrated disease management. The companies will work together to conduct pharmacy management and data analytics.
To learn more about the buyout:
- read this Modern Healthcare piece
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