Express Scripts acquires myMatrixx

ST. LOUIS — Express Scripts on Wednesday announced it had acquired myMatrixx, a pharmacy benefit solutions provider for the workers' compensation industry. The companies will merge core capabilities to deliver “best-in-class” clinical expertise, advanced analytics, and customized client experiences to serve workers' compensation clients and injured patients.

The combination of Express Scripts and myMatrixx will make enhanced pharmacy services offerings available to current and prospective workers' compensation clients, the companies said. The combined workers' compensation team will be led by Artemis Emslie, currently CEO of myMatrixx. 

"We are proud to create best-in-class pharmacy services for workers' compensation programs by combining our deep expertise with the market-leading myMatrixx customer experience and technology," said Express Scripts president and CEO Tim Wentworth. "We are well-equipped to address our clients' evolving needs. Our unique combination of scale, technology, and a customized client experience sets the standard for workers' compensation programs."

Terms of the transaction were not disclosed. Bryan Cave and Skadden, Arps, Slate, Meagher & Flom served as legal counsel to Express Scripts. SunTrust Robinson Humphrey acted as myMatrixx's exclusive financial advisor and Akerman served as myMatrixx's legal counsel.

"myMatrixx's industry knowledge, technology and client experience have put us at the forefront of pharmacy services for workers' compensation programs," said Artemis Emslie, myMatrixx CEO. "With the demand for customized pharmacy solutions only growing, now is the right time to partner with Express Scripts and leverage the size and scale of the nation's largest PBM to benefit our clients."

With more than 83 million members, Express Scripts said it brings an ability to invest resources into advanced analytics. Express Scripts will leverage its clinical expertise innovation, client services, and strong marketplace footprint on behalf of its workers' compensation program. myMatrixx's strong reputation in the market for client services and agility will generate new growth opportunities and the combination will create more customer value, the companies said.