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Medco Health Solutions

Provides pharmacy benefits and mail order service.

Headquarters:
100 Parsons Pond Drive
Franklin Lakes, NJ 07417
Employees: 20,000
CEO: David Snow Jr.
Stock Symbol: MHS

Website: http://www.medcohealth.com

Career Site

Medco is a leading pharmacy benefit manager (PBM) with the nation's largest mail order pharmacy operations.

Medco's clients consist of private- and public-sector employers, government agencies, BlueCross BlueShield and other healthcare organizations. About 1/3 of Fortune 500 companies in the U.S. are Medco clients.

Medco serves more than 340,000 members through its Medicare PDP, the Medco Medicare Prescription Plan. More than 69 percent of prescriptions filled by Medco Medicare Prescription Plan members are generic, and approximately 27 percent of prescriptions are filled using Medco by Mail.

Medco operates nine mail-order pharmacies and six call center pharmacies. It partners with a nationwide network of approximately 60,000 retail pharmacies.

Medco’s automated pharmacies located in Las Vegas and Willingboro, NJ, together have the capacity to fill more than 2 million prescriptions per week. Medco commenced construction of a third, next-generation automated dispensing pharmacy in Whitestown, IN, which is expected to be operational by late 2009.

The company employs over 20,000 people nationwide, including 2,650 pharmacists and over 650 nurses.

In 2009, Medco reported record revenues of $59.8 billion, a 16.7% increase, and net income of $1.3 billion.

Total prescription volume for the year, adjusting for the difference in days supply between mail-order and retail, was a record 898.8 million, a 12.9 percent increase from 2008. Mail-order prescription volume was in line with expectations at 103.1 million, a 2.6 percent decrease from 2008.

Medco became a publicly traded company when it was spunoff from Merck in 2003.

Benefits

Medco offers comprehensive insurance coverage including medical, dental, group life, and short- and long-term disability. Incentive compensation plans, 401(k), employee stock purchase plan, stock options, paid vacations, sick leave, personal leave and tuition reimbursement also offered.

Updated April 11, 2010