WellPoint Health Joins in Acquisition

WellPoint Health Networks Inc., a Woodland Hills operator of managed health-care programs, said it and Medco Containment Services Inc. have agreed to jointly acquire Professional Claims Services Inc. for $24 million.

The seller is Blue Cross and Blue Shield of Western New York Inc.

Professional Claims Services is a pharmaceutical benefits management company with 3.7 million members nationwide. Medco is a provider of managed prescription drug programs to corporations, labor unions, insurers and other organizations.

The transaction is expected to be completed by year-end.