As of April 2, 2012, Medco Health Solutions, Inc. was acquired by Express Scripts Holding Company. Medco Health Solutions, Inc., a healthcare company, provides clinically-driven pharmacy services for private and public employers, health plans, labor unions, government agencies, and individuals worldwide. The company offers consulting services, and model clinical and financial outcomes for clients based on plan design and formulary choices; clinical management solutions that comprise clinically-based programs, and coverage management and utilization management programs, as well as RationalMed service, a program designed to improve patient care in reducing inappropriate and unsafe prescription...
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Franklin Lakes, NJ 07417-2603
Founded in 1983
Express Scripts Holding Company Announces the Early Tender Results and Pricing for its Tender Offers of the Notes Issued by Medco Health Solutions, Inc. and Express Scripts, Inc
Jul 15 16
On July 14, 2016, Express Scripts Holding Company announced the early tender results and pricing for its tender offers to purchase for cash up to an aggregate principal amount of the 7.125% senior notes due 2018 issued by Medco Health Solutions, Inc., the 7.250% senior notes due 2019 issued by Express Scripts, Inc. and the 6.125% senior notes due 2041 issued by the Company that will not result in an aggregate amount that all holders of any such series of Notes are entitled to receive, excluding accrued and unpaid interest, for their Notes of such series that are validly tendered and accepted for purchase in the applicable tender offer exceeding the applicable aggregate maximum tender amount. The aggregate maximum tender amounts for the 2018 Notes, the 2019 Notes and the 2041 Notes are $450.0 million, $188.8 million and $310.0 million, respectively. The Tender Offers were made pursuant to an offer to purchase dated June 29, 2016 and related letter of transmittal, the terms and conditions of the Tender Offers. In order to receive additional consideration for tendering early, holders of Notes must have validly tendered and not validly withdrawn their Notes prior to or at 5:00 p.m., New York City time, on July 13, 2016 (Early Tender Date). At the Early Tender Date, holders had tendered and not validly withdrawn approximately $368.5 million of the $1,200 million aggregate principal amount of outstanding 2018 Notes, $162.6 million of the $500 million aggregate principal amount of outstanding 2019 Notes and $316.5 million of the $700 million aggregate principal amount of outstanding 2041 Notes. Because the aggregate principal amount of 2041 Notes tendered and not validly withdrawn would result in an aggregate amount that all holders of 2041 Notes are entitled to receive, excluding accrued and unpaid interest, for their 2041 Notes exceeding the applicable aggregate maximum tender amount, the Company will not accept for purchase all 2041 Notes that have been tendered. Rather, the Company will accept 2041 Notes for purchase on a prorated basis, using a proration rate of approximately 0.7945. The Company will accept for purchase the aggregate principal amount of Notes tendered by a holder multiplied by the applicable proration rate and then rounded down to the nearest $1,000 increment. The Tender Offers expire at 11:59 p.m., New York City time, on July 27, 2016, unless extended or earlier terminated.