Medco and Celesio in Pan-European JV to enhance quality of clinical care and reduce overall health care costs

USA-based Medco Health Solutions and Germany's Celesio AG, two leading pharmacy-driven health care companies, have announced a joint venture with a long-term goal of improving patient health and helping to relieve the crushing financial burden on healthcare payers across Europe.

Headquartered in Amsterdam, the Netherlands, the 50/50 JV, named Medco Celesio BV, combines Medco and Celesio's strengths in pharmacy-driven clinical care. Medco Celesio will target patients with chronic or complex conditions, such as diabetes, asthma, high-cholesterol and heart disease. It will concentrate on innovative, integrated clinical services designed to improve patient adherence, integrate care across multiple providers, enhance safety and deliver greater value across the healthcare system.

"Our portfolio of proven clinical solutions can be customized to address the growing demand for affordable, high-quality care that is relevant across geographic, regulatory and cultural boundaries. Although this will not eliminate every financial issue facing the European health care systems, these efficiencies represent a significant part of the overall solution," said Medco chairman and chief executive David Snow Jr.