Accredo Completes Acquisition of Specialty Pharmacy Business
November 21 2005 - 7:15AM
PR Newswire (US)
MEMPHIS, Tenn., Nov. 21 /PRNewswire-FirstCall/ -- Accredo Health,
Incorporated, a wholly-owned subsidiary of Medco Health Solutions,
Inc. (NYSE:MHS), today announced that it has closed on its $72
million acquisition of selected assets of Pediatric Services of
America, Inc.'s (NASDAQ:PSAI). The transaction was finalized after
meeting regulatory approval and customary closing conditions. "The
strategic acquisition of PSAI's assets expands our leadership
position in the treatment and care of pediatric patients with rare
diseases, such as hemophilia and growth hormone deficiency," said
David D. Stevens, president and chief executive officer of Accredo.
"Consistent with our specialty pharmacy growth strategy, this
transaction broadens our reach into one of the fastest growing
segments of health care." About Accredo Accredo Health,
Incorporated, a wholly-owned subsidiary of Medco Health Solutions,
Inc. (NYSE:MHS), provides specialized pharmacy and related services
pursuant to agreements with biotechnology drug manufacturers
relating to the treatment of patients with certain costly, chronic
diseases. The Company's services include collection of timely drug
utilization and patient compliance information, patient education
and monitoring through the use of written materials and telephonic
consultation, reimbursement expertise and overnight drug delivery.
Safe Harbor Statement This news release contains statements that
constitute forward-looking statements within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934,
both as amended by the Private Securities Litigation Reform Act of
1995. These statements are based on the current expectations of
management of both companies. There are a number of risks and
uncertainties that could cause actual results to differ materially.
For example, the companies may be unable to obtain regulatory
approval for the transaction; problems may arise in successfully
integrating the acquired assets; the transaction may involve
unexpected costs; the businesses may suffer as a result of
uncertainty surrounding the transaction; and the industry may be
subject to future regulatory or legislative actions. DATASOURCE:
Medco Health Solutions, Inc. CONTACT: Investors: Susan Cramer,
+1-201-269-6187, Media: Ann Smith, +1-201-269-5984 Web site:
http://www.medco.com/
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