Express Scripts To Acquire EviCore Healthcare For $3.6 Bln - Quick Facts

(RTTNews) - Express Scripts Holding Company (ESRX) announced an agreement to acquire privately-held eviCore healthcare for $3.6 billion from current investors including General Atlantic, TA Associates, and Ridgemont Equity Partners. eviCore, which manages medical benefits for 100 million people, offers a broad range of integrated medical benefits management solutions that drive significant and immediate cost reductions, and improved quality care outcomes. eviCore has approximately 4,000 employees and will operate as a standalone business unit within Express Scripts.

Excluding transaction related expenses and amortization of intangibles, Express Scripts expects the acquisition to be accretive to adjusted earnings per share in its first full year of operation.

Tim Wentworth, CEO of Express Scripts, stated: "Together with eviCore, Express Scripts will be an even more powerful partner in managing costs for patients and payers, bringing us closer to our goal of becoming the nation's leading patient benefit manager. By further strengthening our independent model and creating numerous opportunities for growth, the acquisition of eviCore will deliver value for our clients, patients, providers, and shareholders."