Centene Corp., St. Louis, agreed to acquire pharmacy-benefits manager U.S. Script, Fresno, Calif., for $40 million in cash. Under the deal, which is expected to close in the first week of January, U.S. Script would receive an additional $10 million if it meets certain financial targets over the next five years. Formed in 1999, privately held U.S. Script administers pharmacy benefits and processes pharmacy claims for 1,500 clients representing 500,000 patients. It has annual revenue of about $65 million. Centene covers more than 533,000 beneficiaries enrolled in Medicaid and other government-assisted healthcare programs in seven states. The company in May acquired Medicaid HMO SummaCare, Akron, Ohio, and in July acquired disease-management vendor AirLogix. -- by Laura B. Benko
Medicaid plan acquires pharmacy-benefits manager
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