AdvancePCS announced it will buy Accordant Health Services, a small disease management company - Contracts and Alliances in Brief

Drug Cost Management Report, Nov, 2002

* AdvancePCS announced it will buy Accordant Health Services, a small disease management company, for less than $100 million, with 25% of payout based on Accordant's 2003 performance. First Albany Corp. estimates Accordant will generate $22 million in 2002 revenue and $40 million in 2003, with margins in the 10%-20% range.

Accordant provides disease management services in 15 niche areas, including hemophilia, multiple sclerosis, cystic fibrosis, rheumatoid arthritis, seizure disorders, and Gaucher's disease. The company serves MCOs, including Empire BCBS, Humana and Health Net. The purchase is part of AdvancePCS' strategy to be seen as a full-service "health improvement" company and not just a PBM.