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Express Scripts: Difference between revisions
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Sanus traces its history to Bradford Systems and Administrative Services which was founded in Boston in 1968. Bradford had a contract for computer processing of Medicare and Medicaid payments. It was acquired in 1981 by [[McDonnell Douglas]] through its McDonnell Automation Company (McAuto) subsidiary for $11.5 million.<ref>{{cite news|url=https://www.nytimes.com/1981/12/25/business/bradford-national-sells-a-division.html|title=Bradford National Sells a Division|work=The New York Times |date=25 December 1981|via=NYTimes.com}}</ref> | Sanus traces its history to Bradford Systems and Administrative Services which was founded in Boston in 1968. Bradford had a contract for computer processing of Medicare and Medicaid payments. It was acquired in 1981 by [[McDonnell Douglas]] through its McDonnell Automation Company (McAuto) subsidiary for $11.5 million.<ref>{{cite news|url=https://www.nytimes.com/1981/12/25/business/bradford-national-sells-a-division.html|title=Bradford National Sells a Division|work=The New York Times |date=25 December 1981|via=NYTimes.com}}</ref> | ||
In 1983, two of McDonnell Douglas' former principals Joseph T. Lynaugh (a former director of [[NYC Health + Hospitals]] in | In 1983, two of McDonnell Douglas' former principals Joseph T. Lynaugh (a former director of [[NYC Health + Hospitals]] in New York City), the McAuto's project manager of the Bradford takeover,<ref>{{cite web|url=http://www.newspapers.com/image/121504036/|title=8 Dec 1982, Page 15 - Arizona Republic at Newspapers.com|website=Newspapers.com}}</ref> and Howard L. Waltman, a long time Bradford's employee,<ref>{{cite web|url=http://www.nndb.com/people/022/000169512/|title=Howard L. Waltman|website=www.nndb.com}}</ref> formed the Sanus Corporation with substantial investments and ownership from McDonnell Douglas, including a McDonnell Douglas whole ownership of the St. Louis office. [[General American Life Insurance Company]] invested in Sanus's future, the largest part of the funding based in New York. Sanus was a [[health maintenance organization]] and it merged with the General America Life Insurance [[preferred provider organization]].<ref>{{cite web|url=http://www.newspapers.com/image/140996821/?terms=sanus+lynaugh|title=5 Dec 1985, Page 49 - St. Louis Post-Dispatch at Newspapers.com|website=Newspapers.com}}</ref> Sanus rapidly grew and by 1986 it had 200,000 clients and $100 million in revenue, operating in the St. Louis, [[Dallas]], [[Fort Worth, Texas|Fort Worth]], [[Houston]], and [[Washington, D.C.]] markets. It created a subsidiary called GenCare to fill prescriptions. | ||
In late 1986, Sanus announced a deal with St. Louis based pharmacy Medicare-Glaser for fulfilling prescriptions. The deal was a 50-50 split ownership between Sanus and Medicare-Glaser, with the new name of Express Scripts (scripts being medical industry jargon for prescriptions). Initial plans called for Missouri and Illinois clients to get their prescriptions at the Medicare-Glaser brick and mortar pharmacies while those in other cities could get their prescriptions via mail order—an innovation at the time.<ref>{{cite web|url=https://www.referenceforbusiness.com/history2/41/Express-Scripts-Incorporated.html|title=Express Scripts Incorporated - Company Profile, Information, Business Description, History, Background Information on Express Scripts Incorporated|website=www.referenceforbusiness.com}}</ref> The initial report of the creation said that Charles H. Ridings, formerly in charge of McDonnell Douglas mergers and acquisitions, was named the first chief executive, although he was quickly replaced by Waltman.<ref>{{cite web|url=http://www.newspapers.com/image/142310612/?terms=%22Express+Scripts%22|title=11 Nov 1986, Page 14 - St. Louis Post-Dispatch at Newspapers.com|website=Newspapers.com}}</ref> | In late 1986, Sanus announced a deal with St. Louis based pharmacy Medicare-Glaser for fulfilling prescriptions. The deal was a 50-50 split ownership between Sanus and Medicare-Glaser, with the new name of Express Scripts (scripts being medical industry jargon for prescriptions). Initial plans called for Missouri and Illinois clients to get their prescriptions at the Medicare-Glaser brick and mortar pharmacies while those in other cities could get their prescriptions via mail order—an innovation at the time.<ref>{{cite web|url=https://www.referenceforbusiness.com/history2/41/Express-Scripts-Incorporated.html|title=Express Scripts Incorporated - Company Profile, Information, Business Description, History, Background Information on Express Scripts Incorporated|website=www.referenceforbusiness.com}}</ref> The initial report of the creation said that Charles H. Ridings, formerly in charge of McDonnell Douglas mergers and acquisitions, was named the first chief executive, although he was quickly replaced by Waltman.<ref>{{cite web|url=http://www.newspapers.com/image/142310612/?terms=%22Express+Scripts%22|title=11 Nov 1986, Page 14 - St. Louis Post-Dispatch at Newspapers.com|website=Newspapers.com}}</ref> | ||