Pharma manager Express Scripts acquires ConnectYourCare
Pharmacy benefit manager Express Scripts Inc. announced its plans to purchase ConnectYourCare LLC from privately held Revolution Health for an undisclosed amount, according to the company
Hunt Valley, Md.-based ConnectYourCare will operate as a stand-alone unit serving the growing Children’s Dental Health Project (CDHP) market, connecting any employer, health plan or third party administrator and financial institution for account administration.
ConnectYourCare is a health plan account administrator that handles health savings accounts (HSA), health reimbursement arrangements (HRA), flexible spending accounts (FSA) and dependent care and retiree medical reimbursement accounts.
“Both companies have value propositions that are built on the economic forces brought about by consumerism,” ConnectYourCare Co-Founder and President Jamie Spriggs said in a statement. “Having a pharmacy-focused approach to the market gives us a unique perspective that translates into capabilities which will clearly drive hard savings for employers.”
St. Louis, Mo.-based Express Scripts, Inc. is a pharmacy benefit manager company that serves over 50 million members and thousands of client groups including managed-care organizations, insurance carriers, employers, third-party administrators, public sector and union-sponsored benefit plans.
with further access to employers, health plans and third party administrators.
ConnectYourCare also complements Express Scripts’ consumer-focused initiatives, including its CDHP offerings.
“ConnectYourCare's award-winning account administration platform and seasoned CDHP experts are an exciting addition to Express Scripts, strengthening our ability to enable better health and value at the consumer level,” Express Scripts Chief Executive Officer George Paz said in a statement.
Paz also stated that ConnectYourCare represents a significant extension of Express Scripts’ commitment to take its business model to its next stage of growth.
“Our success in encouraging consumers to increase the use of generic drugs demonstrates that empowered, educated consumers, given convenient, state-of-the-art tools like those of ConnectYourCare, can unlock great value in actively managing their health,” he said.
According to The List database, neither Express Scripts nor ConnectYourCare currently have any agency relationships.
According to Nielsen Monitor-Plus, Express Scripts spent approximately $50,000 on national advertising in 2006. About $20,000 was spent on spot radio ads, $10,000 was spent on local newspaper ads and $9,000 was spent on spot television ads.
Interested agencies should contact Express Script with ideas on how it can best leverage ConnectYourCare’s capabilities as a pharmaceutical account administrator. Come up with ways to target a specific market of people who are in need of discounted medication due to certain inoperable or chronic conditions. Think on a more local level to make an even bigger impact.
Express Scripts Inc.
1 Express Way
Saint Louis, MO 63121
Senior Director of Strategic Relationship Services
Chairman, President & Chief Executive Officer
307 International Circle
Hunt Valley, MD 21030
Marketing & Communications Manager
Vice President of Marketing
Chief Executive Officer