SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: January 26, 2000
Express Scripts, Inc.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as specified in its Charter)
Delaware 0-20199 43-1420563
- --------------------------------------------------------------------------------
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
corporation)
13900 Riverport Drive, Maryland Heights, Missouri 63043
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (314) 770-1666
-----------------------------
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Item 5. Other Events
On January 26, 2000, Express Scripts, Inc. issued a press release, a copy
of which is attached hereto as Exhibit 99.1, and incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) The following exhibit is filed as part of this report on Form 8-K:
Exhibit 99.1 Press release, dated January 26, 2000, by Express Scripts,
Inc.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EXPRESS SCRIPTS, INC.
Date: February 2, 2000 By: /s/ Barrett A. Toan
Barrett A. Toan
President and Chief Executive Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Press release, dated January 26, 2000, by Express Scripts, Inc.
Express Scripts Names Five Members to Board of Directors Appointees Combine
Extensive Industry and Corporate Finance Experience
ST. LOUIS, Jan. 26 /PRNewswire/ -- Express Scripts, Inc. (Nasdaq: ESRX)
today announced the election of five members to its board of directors. Frank J.
Borelli, Barbara B. Hill, Stuart L. Bascomb, Gary G. Benanav and Gary E.
Wendlandt will assume their directorships effective Jan. 26, 2000, at the
Express Scripts board meeting.
"These exceptional individuals have consistently demonstrated innovation
and leadership in their own careers, and we look forward to their contributions
in shaping Express Scripts' future," said Barrett Toan, Express Scripts
president and chief executive officer. "Their depth of industry knowledge and
business experience makes them a great asset."
Frank J. Borelli has been senior vice president and chief financial officer
and director of Marsh & McLennan Companies, Inc., a Fortune 500 insurance
services, investment management and consulting company, since 1984. Borelli has
more than 40 years of management and financial experience, including 24 years
with the Deloitte Haskins & Sells partnership and five years as chief financial
and administrative officer and a director of AIRCO, Inc., a manufacturer of
industrial gases and medical products. Borelli is a director of two New York
Stock Exchange-listed companies, The Interpublic Group of Companies, Inc. and
United Water Resources. He is past national chairman and director of the
Financial Executives Institute, co-chairman of the New York City Chapter of
Multiple Sclerosis, and a vice chairman and director of the Private Sector
Council and the Nyack Hospital. He was appointed by the Securities and Exchange
Commission, the New York Stock Exchange and the National Association of Security
Dealers to a Blue Ribbon Committee on Improving the Effectiveness of Corporate
Audit Committees. The committee published its report in the first quarter of
1999, and final rules regarding the subject were recently adopted by three
regulatory agencies. In 1999 Borelli was awarded the CFO Magazine CFO Excellence
Award in the merger & acquisition category.
Barbara B. Hill is president and chief executive officer of Rush Prudential
Health Plans, a leading managed care company serving nearly 400,000 individuals
in the Chicago area. She joined Rush Prudential Health Plans in January 1996.
Hill has more than 20 years of senior management experience in health care and
insurance and a strong history with both commercial and government-funded
programs. Most recently, she was president of Aetna Health Plans of the Midwest,
responsible for group health insurance activities in four states. Hill, who is
active in numerous professional boards and committees, is a faculty member at
Rush University and the immediate past-president of the Illinois Association of
HMOs.
Stuart L. Bascomb, a senior executive at Express Scripts since the
company's founding in 1986, currently leads sales and pharmacy network
development as executive vice president of sales and provider relations. Bascomb
is past chairman of the board of the Pharmaceutical Care Management Association
and a member of the Financial Executives Institute and the American Institute of
Certified Public Accountants.
Gary G. Benanav is chairman and chief executive officer of New York Life
International, Inc., a wholly-owned subsidiary of New York Life Insurance
Company. He also is vice chairman of New York Life Insurance Company and a
member of its board of directors. Benanav has more than 25 years' experience in
the insurance industry. He has served on the American Council of Life Insurance
and its subcommittee on federal bankruptcy legislation. He also served on the
Governor's New York Executive Advisory Commission on Insurance Industry
Regulation Reform, where he was a strong advocate for deregulation of insurance
company activities. Benanav serves on the board of directors of The Barnes
Group, Inc., and is chairman of the Pacific Basin Economic Council-U.S.
Gary E. Wendlandt is the newly appointed executive vice president of New
York Life Asset Management, a company with more than $55 billion in assets under
management, serving three primary investor markets-retail mutual fund buyers,
company and individual retirement plans, and institutional investors. Wendlandt
provides executive management for the company's Stable Value business: The
MainStay(R) Funds, the company's institutional and retail mutual funds;
MacKay-Shield Financial Corporation and Monitor Capital Advisors, Inc., the
company's money management subsidiaries; and New York Life Benefit Services,
Inc., which specializes in retirement plans. Prior to joining New York Life
Asset Management, Wendlandt had served in various capacities at MassMutual since
1972. Wendlandt is a Fellow of the Society of Actuaries and a member of the
American Academy of Actuaries. He is a trustee of Wilbraham Monson Academy in
Massachusetts.
Express Scripts, Inc., is the nation's leading independent full-service
pharmacy benefit management (PBM) and specialty managed care company. Through
facilities in seven states and Canada, the company serves thousands of clients
throughout North America, including managed care organizations, insurance
carriers, third-party administrators, employers and union-sponsored benefit
plans. The company provides fully-integrated PBM services, including network
claims processing; mail-order pharmacy services; benefit design consultation;
drug utilization review; formulary management; disease management; medical and
drug data analysis services; medical information management services, including
provider profiling and outcome assessments, through Practice Patterns Science,
Inc.; and informed decision counseling services through the Express Health
Line(SM) division. The company also provides non-PBM services, including
infusion therapy, through its subsidiary, Express Scripts Infusion Services, and
distribution services through its distribution division, Express Scripts
Specialty Distribution Services. Express Scripts is headquartered in St. Louis,
Missouri. More information about the company can be found at
http://www.express-scripts.com .
CONTACT: George Paz, Chief Financial Officer or Diana Baumohl, Vice
President, Investor Relations of Express Scripts, 314-702-7516, or
[email protected] .
