Medco Health Solutions
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| Medco Health Solutions, Inc. | |
|---|---|
| Type | Public (NYSE: MHS) |
| Founded | 2003 |
| Headquarters | Franklin Lakes, New Jersey |
| Key people | David B. Snow, Jr., Chairman and Chief Executive Officer Kenneth O. Klepper, President and Chief Operating Officer |
| Industry | Healthcare |
| Products | Pharmacy Benefit Management |
| Revenue | ▲ $42.543 Billion USD (2007) |
| Net income | ▲ 630.2 Million USD (2007) |
| Employees | 14,800 |
| Website | www.medco.com |
Medco Health Solutions, Inc. (NYSE: MHS) is a leading pharmacy benefit manager (PBM) company based in Franklin Lakes, New Jersey. The current chairman is David Snow. The company formed in August 2003 as a spinoff from Merck & Co.. While under Merck control, the company was known as Merck-Medco Managed Care, L.L.C; before that it was Medco Containment Services, Inc. Medco is a member of the S&P 500. As of 2007, it was ranked 54th on the Fortune 500 list. It was named one of Fortune magazine’s 2005 Most Admired Companies. Medco operates the nation’s largest mail-order pharmacy operation. In 2005, Medco managed 549 million prescriptions.
In 2005 Medco acquired Accredo Health, a large specialty pharmaceutical operation, including a division that Accredo Health purchased from Gentiva Health Services in 2002. In 2007 Medco acquired Polymedica Corporation, a leading source for diabetes services and supplies with its consumer brand Liberty Medical.
Medco is one of only 10 national Prescription Drug Plans (PDP) named by the Centers for Medicare and Medicaid Services to administer prescription drug plan benefits for the Medicare-eligible population at large.[citation needed]
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