|Print | E-mail Page | RSS | Alerts | IR Contacts | Financial Tear Sheet|
|Express Scripts Completes Spinoff of Rx Outreach|
ST. LOUIS, Oct 05, 2010 /PRNewswire via COMTEX/ --
Express Scripts (Nasdaq: ESRX) has completed the spinoff of its Rx Outreach business unit to create a new independent, nonprofit charitable organization with the mission of improving access to prescription medicines for low-income, uninsured Americans and working families.
Michael Holmes, former executive vice president of Express Scripts, leads the new national organization, which has its headquarters in St. Louis.
George Paz, chairman, president and chief executive officer of Express Scripts, said, "RxOutreach has an important mission in assisting deserving Americans in obtaining better access to the safe and affordable drugs they need. I am pleased that Michael Holmes is heading this independent organization and confident that under his leadership it will perform a significant social good."
Rx Outreach's new structure as a nonprofit will enable public, charitable and private entities, including Express Scripts, to work together to bring appropriate drug therapies to those who have limited or no access today. The opportunity to develop expanded partnerships with branded and generic pharmaceutical manufacturers, community health centers, rural and frontier clinics, and faith-based charities will allow Rx Outreach the potential to offer a broader level of service.
Holmes noted the challenges ahead. "During tough economic times, the need for an organization like ours is especially acute, but we know that private resources are stretched thin," he said. "We applaud Express Scripts setting us on the road to independence, and we readily accept the challenge of building new partnerships and support for accomplishing our critical mission."
Express Scripts announced the spinoff in January and has supported Rx Outreach during the transition period.
About Express Scripts
Express Scripts, Inc., one of the largest pharmacy benefit management companies in North America, is leading the way toward creating better health and value for patients through Consumerology(R), the advanced application of the behavioral sciences to healthcare. This approach is helping millions of members realize greater healthcare outcomes and lowering cost by assisting in influencing their behavior. Headquartered in St. Louis, Express Scripts provides integrated PBM services including network-pharmacy claims processing, home delivery services, specialty benefit management, benefit-design consultation, drug-utilization review, formulary management, and medical and drug data analysis services. The company also distributes a full range of biopharmaceutical products and provides extensive cost-management and patient-care services. More information can be found at http://www.express-scripts.com and http://www.consumerology.com.
About Rx Outreach
Rx Outreach is a nonprofit charitable organization with the mission of providing medications to people in need.Rx Outreach envisions that all individuals will have access to affordable medications to preserve their quality of health.Headquartered in St. Louis, Rx Outreach provides nationwide access to a broad range of prescription drugs for low-income families through a dedicated staff of pharmacy professionals and a highly automated home delivery system.More information can be found at http://www.rxoutreach.org.
SOURCE Express Scripts