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Medco Health Solutions, Inc. was an American Pharmacy Benefits Management (PBM) company. Medco provided pharmacy services to private and public employers, health plans, labor unions, government agencies, and individuals served by Medicare Part D Prescription Drug Plans.
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In 1983 he established Medco Containment Services, Inc. and built it into the largest mail order pharmacy in the United States. In 1993 Wygod sold Medco to Merck & Co. for more than US$6 billion. Wygod was Chairman of WebMD and of HLTH Corporation, an Elmwood Park, New Jersey, technology company providing healthcare information services.
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The company was a subsidiary of Medco Health Solutions, Inc., which purchased Liberty Medical and its parent company, PolyMedica, in 2007. [2] After Express Scripts acquired Medco, they sold Liberty Medical in December 2012 to members of its management team, and it now operates again as an independent company. [ 3 ]
In November 1993, Merck & Co. acquired Medco Containment Services for $6 billion. [72] [73] Merck & Co. spun Medco off ten years later. [74] Merck's supply chain reduction programme has been referred to as an example of successful change. Merck reduced its number of global suppliers from 40,000 to less than 10,000 during the period from 1992 to ...