Express Scripts acquires Medical Services PBM for $248 million

ST. LOUIS The pharmacy benefit manager Medical Services has a new owner.

Monitor Clipper Partners, a private equity firm, has sold it to Express Scripts for $248 million, Express Scripts announced Tuesday. MSC Pharmacy Services Division serves more than 500,000 workers' compensation beneficiaries.

Founded in 1985, MSC provides pharmacy benefit services for workers’ compensation organizations. Express Scripts, a much larger company based in Maryland Heights, Mo., performs similar services for employers, governments, labor unions and managed care plans.