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Aetna Completes Purchase of Aetna Specialty Pharmacy; Purchase of portion from Priority Healthcare Corporation, a wholly-owned subsidiary of Express Scripts, Inc., gives Aetna 100 percent ownership.


HARTFORD, Conn. -- Aetna (NYSE NYSE

See: New York Stock Exchange
: AET AET Aetna, Inc.
AET After Extra Time
AET Actual Evapotranspiration
AET Alliance for Environmental Technology
AET Alpha-Ethyltryptamine
AET Applied Extrusion Technologies, Inc.
) today announced it has completed the transaction that gives it 100 percent ownership of Aetna Specialty Pharmacy, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, a joint venture it launched with Priority Healthcare Corporation last year to better serve Aetna members with conditions who need specialty pharmaceuticals. Priority Healthcare is a wholly-owned subsidiary of Express Scripts, Inc.

Aetna had owned 40 percent of the venture. It announced the purchase of the remaining 60 percent from Express Scripts, Inc. on Oct. 26, 2005. Terms of the transaction were not disclosed, although Aetna has previously said the purchase price is not material to the company.

"We are very pleased to be able to complete this transaction," said Eric Elliott, head of Aetna Pharmacy Management (APM (Advanced Power Management) A programming interface (API) from Intel and Microsoft for battery-powered computers that lets programs communicate power requirements to slow down and speed up components. See ACPI.

APM - Advanced Power Management
), which runs the business. "APM is stronger today because we now own a best-in-class operation that integrates medical and pharmacy benefits for our members with chronic conditions. Aetna Specialty Pharmacy increases our capacity to deliver industry-leading clinical management programs that help manage overall health care costs."

Aetna Specialty Pharmacy occupies a 63,000 square foot state-of-the-art facility in Orlando, Fla., and serves Aetna members with chronic conditions who suffer from diseases such as cancer, Crohn's Disease, cystic fibrosis, Gaucher's Disease, hemophilia, hepatitis, HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome , Multiple Sclerosis, pulmonary hypertension, renal failure, respiratory syncytial virus respiratory syncytial virus (sĭnsĭsh`əl): see cold, common.  (RSV RSV respiratory syncytial virus; Rous sarcoma virus.

RSV
abbr.
respiratory syncytial virus


RSV 1 Respiratory syncytial virus, see there 2 Rous sarcoma virus, see there
), rheumatoid arthritis, organ transplants and anemia. Medications for these diseases are expensive, and administration of those medications requires intensive coordination.

As one of the nation's leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 14.65 million medical members, 13.03 million dental members, 9.34 million pharmacy members and 13.68 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost-effective health care through a nationwide network of more than 700,000 health care professionals, including over 418,000 primary care and specialist doctors and 4,231 hospitals. For more information, please visit. www.aetna.com (Figures as of September 30, 2005)
COPYRIGHT 2005 Business Wire
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Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Dec 30, 2005
Words:352
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