ST. LOUIS, May 17, 2017 /PRNewswire/ -- Express Scripts
(NASDAQ: ESRX) today announced it is taking an important step
in expanding its customized workers' compensation pharmacy
solutions by acquiring myMatrixx, a pharmacy benefit solutions
provider for the workers' compensation industry. The companies
will merge core capabilities to deliver best-in-class clinical
expertise, advanced analytics, and customized client experiences to
serve workers' compensation clients and injured patients.
Terms of the transaction were not disclosed. Bryan Cave LLP
and Skadden, Arps, Slate, Meagher & Flom LLP served as legal
counsel to Express Scripts. SunTrust Robinson Humphrey acted as
myMatrixx's exclusive financial advisor and Akerman LLP served as
myMatrixx's legal counsel.
The combination of Express Scripts and myMatrixx will make
enhanced pharmacy services offerings available to current and
prospective workers' compensation clients. The combined workers'
compensation team will be led by Artemis Emslie, currently Chief
Executive Officer of myMatrixx.
"We are proud to create best-in-class pharmacy services for
workers' compensation programs by combining our deep expertise with
the market-leading myMatrixx customer experience and technology,"
said Express Scripts President & CEO Tim Wentworth. "We are well-equipped to
address our clients' evolving needs. Our unique combination of
scale, technology, and a customized client experience sets the
standard for workers' compensation programs."
"myMatrixx's industry knowledge, technology and client
experience have put us at the forefront of pharmacy services for
workers' compensation programs," said Ms. Emslie, myMatrixx CEO.
"With the demand for customized pharmacy solutions only growing,
now is the right time to partner with Express Scripts and leverage
the size and scale of the nation's largest PBM to benefit our
clients."
With more than 83 million members, Express Scripts brings an
ability to invest resources into advanced analytics. Express
Scripts will leverage its clinical expertise innovation, client
services, and strong marketplace footprint on behalf of its
workers' compensation program. myMatrixx's strong reputation in the
market for client services and agility will generate new growth
opportunities and the combination will create more customer
value.
Underlining the growing need for novel workers' compensation
solutions, earlier this month, Express Scripts released new data
finding that the company's innovative solutions lowered
prescription drug spending for workers' compensation payers overall
by 7.6 percent in 2016. Much of this reduction can be ascribed
to a sixth consecutive year of decline in overall opioid trend. In
2016, opioid trend decreased 13.4 percent due to a combination of
Express Scripts' clinical solutions, aggressive client management,
and state and federal opioid regulatory trends.
About Express Scripts
Express Scripts puts medicine within reach of tens of millions
of people by aligning with plan sponsors, taking bold action and
delivering patient-centered care to make better health more
affordable and accessible.
Headquartered in St. Louis,
Express Scripts provides integrated pharmacy benefit management
services, including network-pharmacy claims processing, home
delivery pharmacy care, specialty pharmacy care, specialty benefit
management, benefit-design consultation, drug utilization review,
formulary management, and medical and drug data analysis services.
Express Scripts also distributes a full range of biopharmaceutical
products and provides extensive cost-management and patient-care
services.
For more information, visit Lab.Express-Scripts.com or follow
@ExpressScripts on Twitter.
About myMatrixx
myMatrixx® is a full-service workers compensation pharmacy
benefit management company focused on patient advocacy. By
combining agile technology, clinical expertise, and advanced
business analytics, myMatrixx simplifies workers' compensation
claims management while providing safer medication therapy
management. Located in Tampa,
Florida, myMatrixx has positioned itself as a thought leader
in the workers' compensation industry.
Media
Contact:
Ellen Drazen
(314) 684-5355
evdrazen@express-scripts.com
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SOURCE Express Scripts