AmeriSource Signs Multi-Year Agreements of Over $1.2 Billion With Anthem Prescription and Option Care
MALVERN, Pa.--(BUSINESS WIRE)--June 1, 2000-- AmeriSource Health Corp. (NYSE:AAS), one of the nation's leading wholesale pharmaceutical distributors, today announced that that it has signed separate multi-year agreements totaling more than $1.2 billion in revenue with Anthem Prescription Management, Inc. and Option Care, Inc.
The new agreements significantly increase AmeriSource's presence in the Alternate Site marketplace, which includes non-hospital and non-retail pharmaceutical providers such as mail prescription services, dialysis centers and infusion services. AmeriSource launched its Alternate Site initiative 16 months ago to selectively target this rapidly growing market, and is the only major pharmaceutical wholesaler with a sales team focused at the national, regional and local level.
"We are very excited Anthem Prescription has chosen AmeriSource and that Option Care has extended its agreement," said R. David Yost, AmeriSource president and chief executive officer. "These are the kind of leaders in the Alternate Site market with whom we want to develop long-term relationships as AmeriSource selectively builds this business."
Anthem Prescription Management Agreement
Under the three-year Anthem Prescription agreement, which includes a two-year extension option, AmeriSource will supply pharmaceuticals and repackaged pharmaceuticals for Anthem Rx, Anthem Prescription's mail service pharmacy. AmeriSource's revenue over the life of the agreement, including the extension, is estimated to be more than $900 million.
Anthem Prescription Management, Inc. is a national pharmacy benefits manager serving members of Anthem Blue Cross and Blue Shield health plans, and other health plans and employer groups across the United States. Currently, Anthem Prescription, which began operations in 1989, manages pharmacy programs for more than 2.7 million members. For further information on Anthem Prescription, visit their web site at www.anthemprescription.com.
Option Care Extends Agreement
Option Care, Inc. signed a new three-year extension agreement under which AmeriSource provides pharmaceuticals to Option Care's pharmacies across the country. AmeriSource's revenue from the three-year extension is estimated to exceed $350 million.
Option Care, Inc., headquartered in Bannockburn, Illinois, is a provider of specialty pharmaceutical products and services for intravenous delivery. With a nationwide network of 140 locations, Option Care contracts to provide managed care organizations and other third-party providers with specialty pharmaceutical and high-cost injectable products that can be used by patients in locations other than their doctor's office. The company was founded in 1979 and trades on the NASDAQ under the symbol OPTN. For further information visit Option Care's web sites at www.optioncare.com and www.mbimi.com.
AmeriSource Health Corporation, with more than $10 billion in operating revenue, is one of the nation's leading, full-service wholesale distributors of pharmaceutical products and related healthcare services. Headquartered in Malvern, PA, the company serves its base of 21,000 customer accounts through a national network of 24 strategically located distribution facilities. AmeriSource is the industry's largest provider of pharmaceuticals to the acute care/institutional market. For news and additional information about the company, visit our web site at www.amerisource.com.
CONTACT: AmeriSource, Malvern
Michael N. Kilpatric, 610/993-3411