According to the news business will continue at usual at SmartD and Express grows another 87,000 Medicare clients. The sanctions from CMS are recent and began in April of this year. SmartD cannot market and pick up new customers as the sanction was in place as CMS said they were a danger to Medicare clients due to some of their current operations methodologies. You can read the CMS letter here.
Before acquisition, SmartD RX was owned by SmartD insurance and I’m not sure if they are all wrapped in this together, hard to tell. BD
Pharmacy benefit manager Express Scripts (ESRX: Quote) Monday announced the acquisition of the SmartD Medicare Prescription Drug Plan, or PDP, which will add 87,000 covered Medicare lives. The financial terms of the deal were not disclosed.
"Working together with independent and chain pharmacies, we look forward to serving SmartD members and we are pleased in the continued growth and enhancement of our Medicare PDP offering," said Brit Pim, vice president and general manager, government programs at Express Scripts.