Express Scripts buys specialty workers comp PBM

Pharmacy benefit manager Express Scripts Holding Co. announced on Wednesday it is buying workers compensation PBM Matrix Healthcare Services Inc., which does business as myMatrixx, for an undisclosed sum.

The St. Louis-based PBM giant said in a statement that its workers compensation team would be combined with that of Tampa, Florida-based myMatrixx and led by Artemis Emslie, CEO of myMatrixx.

In the statement, Ms. Emslie said: “With the demand for customized pharmacy solutions only growing, now is the right time to partner with Express Scripts and leverage the size and scale of the nation's largest PBM to benefit our clients.”

MyMatrixx was founded in 2001 by Executive Chairman Steven MacDonald. Last year, it was ranked 4,103 on the Inc. 5,000 with revenue of $123.2 million.

Express Scripts reported revenue of $100. 29 billion in 2016.