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BUSINESS
December 14, 1993
WellPoint Health Networks Inc., a Woodland Hills operator of managed health-care programs, said it and Medco Containment Services Inc. have agreed to jointly acquire Professional Claims Services Inc. for $24 million. The seller is Blue Cross and Blue Shield of Western New York Inc. Professional Claims Services is a pharmaceutical benefits management company with 3.7 million members nationwide.
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BUSINESS
December 18, 1999 | ROBIN FIELDS, TIMES STAFF WRITER
A federal grand jury indicted eight telemarketers Friday on charges of bilking $4.4 million from people in a massive Medical-billing scheme operated from boiler rooms in La Habra and Placentia. The suspects sold software to more than 12,000 consumers, saying they could earn $30,000 a year processing medical insurance claims or bills on their home computers, prosecutors said.
BUSINESS
April 14, 2009 | Associated Press
Prescription benefit manager Express Scripts Inc. said Monday that it would buy rival NextRx from WellPoint Inc. for $4.68 billion in cash and stock. St. Louis-based Express would leapfrog CVS Caremark Corp. to become the No. 2 pharmacy benefit manager, with a prescription volume approaching that of industry leader Medco Health Solutions Inc.
BUSINESS
June 25, 2003 | From Associated Press
Federal prosecutors have joined lawsuits accusing a pharmacy benefit company owned by Merck & Co. of pressuring doctors to switch patients to Merck's products even if a patient was doing well on another drug that cost less. U.S. Atty.
BUSINESS
July 9, 2002 | RONALD D. WHITE, TIMES STAFF WRITER
Pharmaceutical giant Merck & Co. may have followed an acceptable accounting practice in reporting $12 billion in income it never received at its Medco Health Solutions pharmacy benefits unit, but experts say drug makers and mail- order drug firms now will be pressured to unveil all of their accounting and business arrangements.
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