San Francisco, March 16, 2022 (GLOBE NEWSWIRE) -- Backed by some of the largest employers in the U.S., pharmacy benefit manager EmsanaRx announced today that the company is transitioning from a C-corporation to a public benefit corporation (PBC). The new designation reflects greater alignment with the company’s mission, which is to improve health care outcomes by bringing integrity, clarity and trust to pharmacy benefit management.
As a public benefit corporation, EmsanaRx remains a for-profit company, but is now legally accountable to balance the interests of multiple stakeholders, including customers, employees, partners and shareholders. This move protects the organization’s mission to serve the needs of patients and those who pay for their care by increasing health care quality and transparency and lowering the drug costs burdening businesses and workers alike. The new charter also ensures EmsanaRx’s on-going ability to only select partners that share its mission.
“EmsanaRx and its leadership recognize that in an increasingly opaque and diluted market, this transition is necessary to reflect and protect our deep commitment to delivering on our mission to operate in the best interest of our customers,” said Greg Baker, CEO of EmsanaRx. “This new charter provides us with the legal framework to do what’s right by those who rely on our services, rather than obligate ourselves to make money for shareholders, which often occurs to the detriment of clients and their members.”
EmsanaRx is part of the Emsana Health group of companies launched late last year by the Purchaser Business Group on Health, a non-profit member organization representing the interests of nearly 40 of the country’s largest private employers and public health care purchasers.
“This new designation gives all company officers and members of the EmsanaRx Board the ability and responsibility to make decisions that are in the best interest of the public good, and to further distinguish itself among PBMs by establishing a legal charter that requires the company to continue serving the interests of employers and employees. This responsibility also obligates us to work only with industry partners that share this mission,” Baker added.
About EmsanaRx
EmsanaRx is a pharmacy benefit manager (PBM) built by employers, for employers with a mission to improve health care outcomes by bringing integrity, clarity and trust to pharmacy benefit management. The PBM is part of the Emsana Health group of companies established by the Purchaser Business Group on Health to build health care products that meet the unique needs of large employers and their employees. EmsanaRx has headquarters in Louisville, KY. Additional Information
Learn more and connect with EmsanaRx: www.emsanarx.com, or on LinkedIn at www.linkedin.com/company/emsanarx
