Express Scripts, a St. Louis-based pharmacy-benefits management company, or PBM, has signed an agreement to acquire the pharmacy services division of Medical Services Co., Jacksonville, Fla., for an undisclosed amount, according to news releases from both companies.
Under the terms of the deal, Express Scripts will acquire all of Medical Services PBM business, which is exclusively focused on the workers-compensation market. Medical Services will retain its four ancillary businesses in the areas of durable medical equipment, home-health nursing services, imaging services, and translation and transportation services.
The deal comes on the heels of an announcement earlier this week that Express Scripts has agreed to sell its infusion pharmacy business to OptionCare, a home infusion services company owned by Deerfield, Ill.-based Walgreen Co. Both moves are part of a strategy for Express Scripts to focus exclusively on PBM operations. -- by Shawn Rhea