October 11, 2007 at 02:00 PM
Express Scripts Inc. is getting into the health account administration business.
Express Scripts, St. Louis, a pharmacy benefit manager that manages prescription benefits for more than 50 million Americans, says it has acquired ConnectYourCare L.L.C., Hunt Valley, Md., from Revolution Health Group L.L.C., Washington, a health company incubator started by Steve Case.
Case was a founder of America Online Corp., Dulles, Va.
Express Scripts is not saying how much it is paying for ConnectYourCare, but it says ConnectYourCare will continue to operate as a stand-alone business.
ConnectYourCare sells a system that can administer health account debit card payment systems and enable health savings account holders to manage HSA investments.
The system also can handle tasks such as enrollment in HSAs, health reimbursement arrangements and flexible spending accounts.
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