Medco says German business buys health Web site

AP News
Posted: Dec 07, 2009 1:26 PM

Medco Health Solutions Inc.'s German business Europa Apotheek Venlo bought health care Web site, Medco said Monday.

Medco owns a majority stake in Europa Apotheek Venlo, which is a Germany-based clinical health care and mail-order pharmacy services company. Medco said shop-apotheke is one of the largest health care product and over-the-counter product sites in Germany.

Terms of the acquisition were not disclosed. Medco said German regulators have cleared the deal, and the sale is expected to close in January.

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Medco is a U.S.-based pharmacy benefits manager, and handles drug benefits for health plan sponsors and members. In afternoon trading, its shares rose 65 cents to $64.35.