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Express Scripts Holding history
Express Scripts Holding company history timeline
Express Scripts happened when Medicare Glaser and Sanus Corp entered into a joint venture back in 1986.
New York Life was also an early investor in ESI. In 1988, Medicare-Glaser began to stumble as Walgreen’s moved to expand aggressively in the former company’s core St Louis market.
In 1989 New York Life Insurance Company Purchased Express Scripts.
By early 1989, with losses mounting, Medicare-Glaser announced it was merging with SupeRx of Arizona, Georgia and Alabama Corp., moving its headquarters to Arizona.
Toan remained with GenCare through 1991, when he took the company public.
In 1992 it opened its doors to the public by becoming a publicly traded company.
Toan left GenCare in 1992 to turn his full attention to ESI.
Steyer, Robert, “Rx for Growth: Express Scripts Pays off Quickly for Investors,” St Louis Post-Dispatch, March 1, 1993, Sec.
In 1993, Merck & Co. paid $6.6 billion for Medco.
The company’s growth also fueled its stock price, which reached $50.50 per share in April 1994.
In 1994, the company expanded its services by adding workers’ compensation prescription services and reinsurance.
Caremark, a division of J.C. Penney with roughly 15 percent of the PBM market, instituted alliances with Pfizer, Bristol-Myers, Rhone-Poulenc, and Lilly in 1994.
Jacobson, Gianna, “Independence Creates Niche in Health Care,” New York Times, July 15, 1995, Sec.
The last of the large PBMs, Value Health, announced its joint venture with Pfizer in 1995.
ESI’s purchase of Canadian PBM Eclipse Claims Services allowed it to move into that market in 1995.
The company’s subsidiary, Practice Patterns Science (PPS), launched in 1995, provides data analysis services by developing, marketing, and supporting proprietary software technology.
The company’s net revenues reached $544 million in 1995, for a net income of over $18 million, sustaining annual growth rates of up to 50 percent.
In April 1998, Express Scripts Inc. acquired ValueRx, the PBM business of Columbia/HCA Healthcare Corp.
In 1999 the company bought stocks in the online company PlanetRx.com, which allowed the company to start selling pharmaceuticals online, both prescription and over-the-counter ones.
In 2000, the company had to write off its $165 million relationship with PlanetRx.com when the startup experienced financial difficulties.
In 2001, Express Scripts Inc. partnered with Merck-Medco and Advance PSC to form RxHub LLC.
In 2001, ESI’s PBM services covered more than 55,000 pharmacies in the United States—this figure included 99 percent of all United States-based retail pharmacies and five mail pharmacy service centers.
In late December 2006, Express Scripts made a proposal to purchase Caremark.
Express Scripts lost the race to acquire Caremark to CVS Corporation, which became CVS/Caremark Corporation on March 22, 2007.
Express Scripts, the United States third largest PBM, closed the transaction in December 2009.
Express Scripts Holding was founded on July 15, 2011 and is headquartered in St Louis, MO.“
Most people probably think of CVS as a pharmacy chain, not realizing that the 2011 purchase of the PBM Caremark transformed the company, making the pharmacy counter the tip of an iceberg of supply chain skunk works.
The Federal Trade Commission gave formal approval on April 2, 2012 after an anti-trust investigation.
The company had more than $100 billion in revenue in 2013.
"Express Scripts Inc. ." International Directory of Company Histories. . Retrieved April 15, 2021 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/express-scripts-inc
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Express Scripts Holding competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| UnitedHealth Group | 1977 | $400.3B | 300,000 | 8,088 |
| Gilead Sciences | 1987 | $28.8B | 11,800 | 795 |
| Cardinal Health | 1971 | $226.8B | 48,000 | 6,652 |
| Community Health Systems | 1985 | $12.6B | 120,000 | 4,647 |
| McKesson | 1833 | $309.0B | 80,000 | 468 |
| Centene | 1984 | $163.1B | 65,000 | 483 |
| Owens & Minor | 1882 | $10.7B | 17,900 | 891 |
| Johnson & Johnson | 1886 | $88.8B | 134,500 | 1,683 |
| Medco Tool | - | $70.1B | 24,000 | - |
| Coventry Health Care | 1986 | $14.1B | 14,400 | 1 |
Express Scripts Holding history FAQs
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Express Scripts Holding may also be known as or be related to EXPRESS SCRIPTS INC, Express Scripts, Express Scripts Holding and Express Scripts Holding Company.