Medco Health Solutions, Inc. was an American Pharmacy Benefits Management (PBM) company. Medco provided pharmacy services to private and public employers, health plans, labor unions, government agencies and individuals served by Medicare Part D Prescription Drug Plans. Medco was a member of the S&P 500 and ranked number 34 on the 2011 Fortune 500 list, with 2011 revenues of more than $70 billion. From 2008 to 2012, the company was ranked first on Fortune magazine's World's Most Admired Companies list in the Healthcare: Pharmacy and Other Services category. It was acquired by Express Scripts in April 2012. History Medco was founded as National Pharmacies in 1983. In 1984, after an IPO, National Pharmacies became Medco Containment Services, LLC. In 1993, Medco Containment was acquired by Merck & Co., Inc. and became Merck-Medco. On October 2, 2001, UnitedHealth Group, Merck-Medco and Accenture launched Xceleron Health LLC, a company created to deliver consulting and business acceleration services to emerging technology-based companies in the healthcare industry. In 2002, Merck & Co announced plans to spin off Merck-Medco. In August 2003, Medco Health Solutions, Inc. became an independent company. On August 28, 2005, Medco Health Solutions contributed $5,000 to the Southwestern Oklahoma State University College of Pharmacy Scholarship Fund. In October 2005, Medco was selected as the finalist of a three-year pharmacy benefit contract for the California Public Employees' Retirement System (CalPERS) Self-Funded Health Plans to begin July 1, 2006. In March 2008, Medco launched a collaboration with Sweden's (then) government-operated retail pharmacy authority, Apoteket, to develop and deliver the first automated electronic prescription review system to improve clinical and financial outcomes for Swedish patients and the country's healthcare system. In 2009, Medco established the Medco Research Institute – an evidence-based research organization. In April 2012, it was acquired by Express Scripts. Lawsuit In 2004, Medco settled a lawsuit brought by 20 states alleging that they failed to disclose incentives they received from drug companies and improperly switched or pressured doctors to switch patient's medication that added costs to their health plans. They agreed to pay $29.3 million. In 2005, Medco Health Solutions agreed to pay the United States $155 million plus interest to settle allegations that it accepted kickbacks from drug makers and submitted false claims to the government. There was no admission of guilt or finding of wrongdoing in either settlement. Acquisitions In 2005, Medco acquired Accredo Health for $2.2 billion, a