BOSTON (Dec. 18, 2017) – Holland & Knight advised Express Scripts Holding Company (NASDAQ: ESRX) on the healthcare regulatory and licensing aspects of its $3.6 billion acquisition of privately-held eviCore healthcare. The transaction closed on December 15.
eviCore is an industry-leading medical benefit manager that offers a broad range of integrated solutions with leading positions in radiology, cardiology, musculoskeletal disorders, post-acute care and medical oncology. eviCore has approximately 4,000 employees and will operate as a stand-alone business unit within Express Scripts.
According to the companies’ leaders, the combination will improve patient health outcomes while controlling costs and eliminating wasteful spending. The companies each will continue to apply evidence-based medicine, advanced data analytics and deep clinical specialization across Express Scripts' leading pharmacy benefit management offering and eviCore's medical benefits management (MBM) platform.
Acquiring eviCore broadens Express Scripts' ability to drive value in the use of specialty medications, which are used to treat complex and chronic conditions, and comprise the most expensive and fastest-growing portion of pharmaceutical spend. The acquisition also establishes Express Scripts' platform in the large and growing MBM market.
Holland & Knight partner Jeffrey Mittleman led the firm’s representation of Express Scripts along with partners Jenna Bigornia and David Glynn. They received assistance from associates Melissa Wong, David Weissman, Will Pezzolo and Laury Lucien.
Lazard Frères & Co., LLC and TripleTree, LLC acted as financial advisors to Express Scripts.
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