Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Express Scripts Holding Co    ESRX

EXPRESS SCRIPTS HOLDING CO (ESRX)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Express Scripts Holding Co : Liberty Medical Supply Files for Chapter 11

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/15/2013 | 06:50pm CEST

--Express Scripts announced plans to divest interest in Liberty Medical in August

--Management purchased the company from Express in December

--Announced layoffs were postponed Thursday, according to reports

(Adds details throughout)

 
   By Stephanie Gleason 
 

Liberty Medical Supply Inc., the diabetes-supply provider known for its often-parodied commercials, filed for Chapter 11 bankruptcy protection on Friday.

The Port St. Lucie, Fla., company listed assets and debts of between $100 million and $500 million each, according to documents filed with the U.S. Bankruptcy Court in Wilmington, Del. It didn't cite a reason for seeking Chapter 11 protection in the filing.

Liberty Medical's parent company, Polymedica Corp., which also filed for Chapter 11 Friday, was acquired in 2007 by Medco Health Solutions Inc. for $1.5 billion. Last April, Express Scripts Holding Co. (ESRX) purchased MedCo for $29.1 billion but announced plans in August to divest itself from that business.

Express Scripts sold the business to Liberty's Management in December, according to the pharmaceutical company.

Shortly after taking back the company, management filed federal layoff notices for more than 200 workers, according to several local media reports. The company, however, announced Thursday, with the layoffs expected to go into effect Friday, that the employees would be kept at work for at least two more weeks, according to local news station WPTV.

In addition to diabetes supplies, the company sells sleep apnea, ostomy and urology medical supplies, and it provides home delivery of medications.

Liberty Medical's commercials featured Wilford Brimley, who has had a long acting career but is probably most famous recently for his appearances as Liberty Medical's spokesman that have been spoofed by both "Saturday Night Live" and "Family Guy."

In some commercials, Mr. Brimley encourages customers to find out if their supplies are covered by Medicare, the federally funded insurance program for the elderly.

As a result of cuts to government spending, reimbursement rates for Medicare and other federally funded insurance programs are expected to be reduced. The company didn't cite this specifically in its filing.

Liberty Medical owes $137 million to its largest unsecured creditors, Medicare claims processor CGS Administrators, according to court papers. Former owner Medco is also listed as an unsecured creditor owed $14.2 million. The company said both claims are disputed.

Neither Liberty Medical nor its bankruptcy attorney responded to requests for comment Friday.

--Jon Kamp in Boston contributed to this article.

(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)

Write to Stephanie Gleason at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EXPRESS SCRIPTS HOLDING CO
05/21EXPRESS SCRIPTS : New migraine drug is affordably priced at only $6,900 a year
AQ
05/18EXPRESS SCRIPTS : and Cigna were exploring deals with other companies before agr..
AQ
05/17EXPRESS SCRIPTS : will stay in St. Louis, keep its name under Cigna ownership.
AQ
05/17EXPRESS SCRIPTS : to remain in St. Louis and retain name under Cigna ownership, ..
AQ
05/16MADE FOR EACH OTHER : Cigna, Express Scripts Say No Other Suitors Emerged
AQ
05/16EXPRESS SCRIPTS : Inside Rx Prescription Savings Program Marks First Anniversary..
AQ
05/16EXPRESS SCRIPTS : Thompson-Brown
AQ
05/16MADE FOR EACH OTHER : Cigna, Express Scripts say no other suitors emerged
AQ
05/14EXPRESS SCRIPTS HOLDING CO. : Submission of Matters to a Vote of Security Holder..
AQ
05/14U.S. to consider expanding Medicare drug price negotiation
RE
More news
News from SeekingAlpha
05/22Tracking Jeffrey Ubben's ValueAct Portfolio - Q1 2018 Update 
05/21Amgen And Novartis Aimovig FDA Approval Gives First Mover Advantage, Will Tha.. 
05/18Tracking Glenn Greenberg's Brave Warrior Advisors Portfolio - Q1 2018 Update 
05/15Glenview added Express Scripts, exited Apple in Q1 
05/15Tracking Seth Klarman's Baupost Group Holdings - Q1 2018 Update 
Financials ($)
Sales 2018 101 B
EBIT 2018 7 355 M
Net income 2018 3 826 M
Debt 2018 9 386 M
Yield 2018 -
P/E ratio 2018 12,19
P/E ratio 2019 10,76
EV / Sales 2018 0,53x
EV / Sales 2019 0,47x
Capitalization 43 674 M
Chart EXPRESS SCRIPTS HOLDING CO
Duration : Period :
Express Scripts Holding Co Technical Analysis Chart | ESRX | US30219G1085 | 4-Traders
Technical analysis trends EXPRESS SCRIPTS HOLDING CO
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 85,1 $
Spread / Average Target 9,4%
EPS Revisions
Managers
NameTitle
Timothy C. Wentworth President, Chief Executive Officer & Director
George Paz Chairman
Neal Sample Chief Operating Officer & Executive Vice President
James M. Havel Chief Financial Officer & Executive Vice President
Steven B. Miller Chief Medical Officer & Senior Vice President
Sector and Competitors
1st jan.Capitalization (M$)
EXPRESS SCRIPTS HOLDING CO2.52%43 674
CVS HEALTH CORPORATION-9.66%66 712
WALGREENS BOOTS ALLIANCE-11.18%63 695
MCKESSON CORPORATION-6.06%30 216
AMERISOURCEBERGEN-8.15%18 576
CARDINAL HEALTH-13.29%16 626