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MEMBERHEALTH, INC. NAMED NO. 1 ON INC. 500 LIST
Cleveland-based pharmacy benefits company ranked fastest-growing, privately held business in the nation
CLEVELAND, Ohio – MemberHealth, Inc. was named the fastest-growing company in the United States by Inc. magazine’s annual Inc. 500 ranking. The national pharmacy benefits company ranked No.1 on the list, with a three-year growth of 20,129 percent, up from the 2,858 percent growth achieved last year.
MemberHealth provides pharmacy benefits to insured and self-insured groups and discount prescription programs. MemberHealth is the fourth-largest sponsor of a Medicare Part D Prescription Drug Plan in the nation. The company serves more than 1.2 million insured
members and processes in excess of 60 million prescriptions annually. This year, MemberHealth also received the Wilson Rx Award for being first in customer satisfaction among Part D plans.
The company differentiates itself in the market by encouraging strong relationships between patients, pharmacists and physicians. This relationship building enables patients to learn how to take their medicines correctly, stay healthy and save money. As a result of communications to beneficiaries suggesting lower-cost medicines, people enrolled in MemberHealth’s CCRx Part D plans in 2006 saved a total of $1.1 million a month in co-pay costs by switching from brand-name to generic medicines.
MemberHealth’s social responsibility commitment puts beneficiary needs first by supporting causes that help to improve their lives. Because nearly 25 percent of MemberHealth’s customers have diabetes, the company holds a charity gala and golf outing each year in August to raise funds to support the cure, prevention and treatment of diabetes. This week, MemberHealth donated more than $80,000 to the American Diabetes Association’s Cleveland Chapter.
“We are ecstatic to be honored by Inc. 500 for our growth because this honor validates our business model. Our business is based on the belief that patients want their pharmacists to be an advocate for them, and to have an active role in helping them to understand their
prescription drug regimens. We have always been very focused on our beneficiaries and will continue to be so in the future,” said Charles Hallberg, founder and CEO of MemberHealth.
“More importantly, our tremendous growth will allow us to continue to make sizeable and sustainable investments in the communities where we do business.”
This year’s competition, as revealed in the September, 2007 issue of Inc., reported the most dynamic collection of companies the magazine has ever compiled. The 500 companies in the list had aggregate revenue of $16 billion and an average three-year growth rate of 939
percent.
“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”
The 2007 Inc. 500 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based, and privately held, independent—not subsidiaries or divisions of other companies—as of December 31, 2006, and have at least $200,000 in
revenue in 2003, and $2 million in 2006.
About MemberHealth: MemberHealth, Inc. (MHRx) is a leading national Medicare Part D sponsor, offering Medicare prescription drug plans in 50 states, District of Columbia, Puerto Rico and the U.S. Virgin Islands. MemberHealth has more than 63,000 pharmacies in its
pharmacy network. MHRx established its reputation as a visionary provider of prescription drug benefits for insured and self-insured groups and discount prescription programs across the country, by focusing on strengthening the relationships between patients, their pharmacists and physicians, which ensures that patients can take medicines with confidence and save money. MemberHealth, Inc. announced in May that it entered into a definitive agreement
under which it would be acquired by Universal American Financial Corp. (“Universal American”) of Rye Brook, NY. For more information on MHRx, please visit our Web sites at www.mhrx.com or www.communitycarerx.com.
About Inc.: Inc., http://www.inc.com, the only major business magazine dedicated exclusively to owners and managers of growing private companies, delivers real solutions for today’s innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc., a Mansueto Ventures LLC publication, inspires and informs, with cutting-edge coverage that reflects our readers’ energy, brashness and imagination.
Contact:
Ann Vickers
MemberHealth, Inc.
Phone: 440-248-8448 x384
Email: avickers@mhrx.com
MemberHealth named to Inc. 500
Company Snapshot
MemberHealth
Year Founded: 1998
Employees: 157
2007 Revenue: $1,500,000,000
29100 Aurora Road
Suite 301, Solon, 44139
P. 1 440-248-8448
http://www.mhrx.com