|Express Scripts to Build New Headquarters at University of Missouri-St. Louis|
ST. LOUIS, Sept. 8 /PRNewswire-FirstCall/ -- Express Scripts, Inc. (Nasdaq: ESRX), one of the nation's leading managers of pharmacy benefit plans, announced today that the company will build its new corporate headquarters on the campus of the University of Missouri-St. Louis (UMSL). The company will break ground on the new headquarters later this year, with occupancy expected in March 2007. Express Scripts will be the highest-ranking Fortune 500 company with its corporate headquarters on a university campus.
The location will promote collaboration between Express Scripts, one of the largest companies headquartered in St. Louis, and the region's largest university. Early opportunities for joint initiatives include health-economics research and information technology, key strengths for both organizations.
UMSL and Express Scripts also align well in the value the two organizations place on people, specifically their employees, customers, students and alumni. For Express Scripts, "Our People Are Our Product" is a fundamental tenet of its value proposition. The company relies on the expertise of its 11,000 employees to make the use of prescription drugs safer and more affordable for more than 55 million Americans. More than 75% of UMSL's graduates still live and work in the region -- supporting the unofficial campus tagline, "We Educate St. Louis."
"Our expansion to UMSL aligns Express Scripts and our employees with the business, research and civic resources that will help strengthen and grow our company," said George Paz, president and chief executive officer of Express Scripts. "We envision a flourishing collaboration that will serve as a model for public/private initiatives throughout the United States."
"The move to UMSL will facilitate an unprecedented opportunity for employee education and growth. It will enhance our position as an employer of choice for a diverse and best-in-class workforce," added Paz.
"Express Scripts is the type of company we had in mind when we began developing UMSL's business, technology and research park. It's a growing company whose needs meld with UMSL's academic strengths and diverse connections to the region," said UMSL Chancellor Thomas F. George.
Express Scripts chose the UMSL site because it met the company's site search criteria and included, in addition, a unique opportunity to collaborate with a university. The UMSL-Express Scripts collaboration expands opportunities to share complementary information technology and research expertise, increases professional development and recruitment opportunities, and aligns two key institutions for the benefit of the greater St. Louis region.
Over the next 18 months, Express Scripts and UMSL will build their collaborative relationship as the physical structure of the new Express Scripts headquarters takes form on campus.
The company will continue to have a strong presence in Maryland Heights, where its customer-contact center and pharmacy operations are located. The Maryland Heights facility, which is just nine miles west of the UMSL campus, will continue to employ 1,600 people after the headquarters relocation.
The Site Selection Process
Express Scripts evaluated several attractive locations for a new, larger corporate headquarters in Missouri, Illinois and elsewhere in the country. The new headquarters will house 1,100 Express Scripts employees and have a total of 320,000 square feet, with room to expand, if needed, for future growth.
"Strong support from Gov. Matt Blunt, the Missouri Department of Economic Development, the Missouri General Assembly, University of Missouri President Elson Floyd, UMSL Chancellor Thomas F. George, St. Louis County Executive Charlie A. Dooley, and the St. Louis County Economic Council was critical to making this unique and exciting collaboration between Express Scripts and UMSL possible," said Paz.
The Express Scripts headquarters will be designed and developed by NorthPark Partners ESI as part of a development at UMSL and near Lambert-St. Louis International Airport, called University Place/NorthPark: A University of Missouri-St. Louis Business, Technology and Research Park. NorthPark Partners ESI is an alliance, whose members will include affiliates of McEagle Properties and Clayco. The general contractor is a Paric Clayco joint venture.
"After receiving very attractive proposals from other developers, we selected NorthPark Partners ESI because of its innovative approach to the site, its creative building design and the strength of the McEagle and Clayco team," said Paz.
The company's architectural consultant on the project is Christner Inc., its real estate advisor is Grubb & Ellis/Krombach Partners, and its legal advisors are Husch & Eppenberger.
About Express Scripts, Inc.
Express Scripts, Inc. (Nasdaq: ESRX) is one of the largest pharmacy-benefit management (PBM) companies in North America, providing PBM services to over 50 million patients through facilities in 13 states and Canada. Express Scripts serves thousands of client groups, including managed-care organizations, insurance carriers, third-party administrators, employers and union-sponsored benefit plans.
Express Scripts provides integrated PBM services, including network-pharmacy-claims processing, mail-pharmacy services, benefit-design consultation, drug-utilization review, formulary management, disease management, medical and drug-data analysis services, and medical-information management services. The company also provides specialty pharmacy services through its subsidiary, CuraScript. Express Scripts is headquartered in St. Louis. More information can be found at http://www.express-scripts.com .
University of Missouri-St. Louis (UMSL)
With a diverse body of more than 15,000 students, the University of Missouri-St. Louis is the largest public university in the area and the third largest in Missouri. It offers 47 undergraduate degree programs, 29 master's degree programs and 13 doctoral degree programs. The international business program at UMSL was recently named the 16th best by U.S. News and World Report. More than 75% of UMSL graduates remain in St. Louis to live and work. More information about UMSL can be found at http://www.umsl.edu .
SOURCE Express Scripts, Inc.
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