ST. LOUIS and BLUFFTON, S.C., Dec. 15, 2017 /PRNewswire/ -- Express Scripts Holding Company (NASDAQ: ESRX) today announced that it has completed the acquisition of privately held eviCore healthcare, the industry leader in evidence-based medical benefit management services, for $3.6 billion. Beginning today, eviCore contributes to Express Scripts' overall growth and ability to deliver improved clinical outcomes and savings for health plans, purchasers and patients.
The combination of two industry leaders, with common values and complementary strengths, creates a powerhouse in the drive to improve patient health outcomes while controlling costs and eliminating wasteful spend. The companies each will continue to apply evidence-based medicine, advanced data analytics and deep clinical specialization across Express Scripts' leading pharmacy benefit management offering and eviCore's medical benefits management (MBM) platform.
"Americans want access to the best care at a reasonable cost," said Tim Wentworth, President and CEO of Express Scripts. "Joining forces with eviCore accelerates our shift toward holistic patient benefit management. It allows us, in partnership with health plans and payers, to target our country's enormous healthcare waste due to nonadherence to medicine, unnecessary procedures and a lack of coordinated, evidence-based care."
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"Together with Express Scripts, we can better help health plans and payers meet the challenge of containing costs while still providing comprehensive, affordable healthcare benefits," said John Arlotta, who remains CEO of eviCore while also joining Express Scripts' senior leadership team. "They're looking for fewer and more strategic partners to drive value and serve employees. That's what we offer."
eviCore, which helps manage medical benefits for 100 million people, offers a broad range of integrated MBM solutions with leading positions in radiology, cardiology, musculoskeletal disorders, post-acute care and medical oncology. eviCore contracts with health plans, including their respective employer clients, to better ensure appropriate use of healthcare services. eviCore has approximately 4,000 employees and will operate as a standalone business unit within Express Scripts.
Among the capabilities eviCore brings to Express Scripts is a broader ability to drive value in the use of Specialty medications, which are used to treat complex and chronic conditions, and comprise the most expensive and fastest-growing portion of pharmaceutical spend. Nearly half of total Specialty drug spend occurs in the medical benefit. The combined company is the industry's most comprehensive specialty benefit organization.
