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Express Scripts Acquires SmartD Medicare Drug Plan

By Tim Brugger - Sep 9, 2013 at 11:07AM

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The prescription plan manager will gain 87,000 Medicare patients as part of the deal.

Express Scripts (ESRX) has acquired Smart Insurance's SmartD Medicare prescription drug plan (PDP) for an undisclosed amount, Express Scripts announced today. The deal, according to Express Scripts, will add "87,000 covered Medicare lives."

SmartD customers will be serviced along with Express Scripts' existing Medicare beneficiaries, which number in the millions, the company said.

In response to the acquisition, Express Scripts' vice president and general manager, government programs Brit Pim said in a statement, "Working together with independent and chain pharmacies, we look forward to serving SmartD members and we are pleased in the continued growth and enhancement of our Medicare PDP offering."

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool recommends Express Scripts. The Motley Fool owns shares of Express Scripts. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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