Medco Managed Care acquiring Systemed PBM for $67 mil. in cash; will add 2.6 mil. covered lives.
SYSTEMED PBM ACQUISITION BY MEDCO FOR $67 MIL. IN CASH represents a premium of nearly 16 times 1995 net earnings of $4.3 mil. The Torrance, Calif.- based pharmaceutical benefits manager announced April 29 that it has entered a definitive agreement under which Merck's Medco Managed Care, Inc. subsidiary will acquire all of Systemed outstanding common stock for $3 per share, a total of approximately $67 mil.
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