News: Deals: Reports

Accredo Health Inc & Medco Health Solutions Inc	Update Date: 04/08/08
Date Announced: 02/23/05
Value (million $USD): 2.19 billion U.S. Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	02/23/05
Date Originally Announced	02/23/05
Format	Merger	Acquisition techniques	Stock Swap; Collar
Attitude	Friendly	Agency	Federal Trade Commission; Justice Department
Value	2.19 billion U.S. Dollar	Advisor Fees	Accredo Health Inc paid Raymond James a reasonable and customary compensation for its financial advisory services, a portion of which is contingent upon consummation of the merger.

SYNOPSIS

US - Medco Health Solutions Inc (MH) acquired all the outstanding common stock of Accredo Health Inc (AH), a provider of specialized contract pharmacy services, in a transaction valued $2.192 bil. MH offered $22 in cash and .49107 common shares per AH share. Based on MH's closing stock price of February 22, the last full trading day prior to the announcement, each AH share was valued at $43.327. The transaction was duly approved by the board of directors of both companies and was subject to shareholder approval and customary closing conditions.

TARGET
Name	Accredo Health Inc (ACDO)
Industries	Home health care services; Drugs, drug proprietaries, and druggists' sundries; Offices of holding companies, nec
City	Memphis
State	TN
Nation	United States
Incorporated in	DE
Public Status	Public
Business Description	Provide specialized contract pharmacy, clinical, reimbursement, delivery and other related services beneficial to patients with certain costly, chronic diseases such as gaucher disease, hemophilia, multiple sclerosis and growth hormone-related disorders
Advisors	Raymond James Financial Inc
Target Sales	1.73 billion U.S. Dollar

ACQUIROR
Name	Medco Health Solutions Inc (MHS)
Industries	Drugs, drug proprietaries, and druggists' sundries; Retail stores, nec; Information retrieval services
City	Franklin Lakes
State	NJ
Nation	United States
Incorporated in	DE
Public Status	Public
Business Description	Medco Health Solutions Inc, headquartered in Franklin Lakes, New Jersey, distributes wholesales, and retails pharmaceuticals. The company is also involved in mail-order distribution of prescription and non-prescription drugs.
Advisors	Lehman Brothers
Acquiror Sales	35.44 billion U.S. Dollar

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