Attached files
file | filename |
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8-K - FORM 8-K - EXPRESS SCRIPTS INC | y04817e8vk.htm |
EX-4.1 - EX-4.1 - EXPRESS SCRIPTS INC | y04817exv4w1.htm |
EX-1.1 - EX-1.1 - EXPRESS SCRIPTS INC | y04817exv1w1.htm |
EX-99.1 - EX-99.1 - EXPRESS SCRIPTS INC | y04817exv99w1.htm |
Exhibit 5.1
May 2, 2011
Express Scripts, Inc.
One Express Way
St. Louis, Missouri 63121
One Express Way
St. Louis, Missouri 63121
Re: | Express Scripts, Inc. Automatic Shelf Registration Statement on Form S-3 |
Ladies and Gentlemen:
We have acted as special counsel to Express Scripts, Inc., a Delaware corporation (the
Company), and each of the subsidiaries of the Company listed on Schedule I hereto (the
Guarantors), in connection with the public offering of (i) $1,500,000,000 aggregate principal
amount of the Companys 3.125% Senior Notes due 2016 (the Notes) to be issued under an indenture,
dated as of June 9, 2009 (the Base Indenture), among the Company, certain of the Companys
wholly-owned domestic subsidiaries party thereto and Union Bank, N.A., as Trustee (the Trustee),
as supplemented prior to the date hereof, and as supplemented by the Sixth Supplemental Indenture,
dated May 27, 2011 (the Sixth Supplemental Indenture, and the Base Indenture as so supplemented,
the Indenture), among the Company, the Guarantors and the Trustee. The Indenture provides that
the Notes are to be guaranteed by the Guarantors. The Company and the Guarantors are referred to
herein as the Transaction Parties On April 27, 2011, the Company entered into an Underwriting
Agreement (the Underwriting Agreement) with Credit Suisse Securities (USA) LLC, Citigroup Global
Markets Inc. and RBS Securities Inc., as representatives of the several Underwriters listed on
Schedule A thereto (the Underwriters) and the Guarantors, relating to the sale by the Company to
the Underwriters of the Securities (as defined below). The Underwriting Agreement, the Indenture,
the Note Certificates (as defined below) and the Guarantees are referred to herein collectively as
the Transaction Documents.
This opinion is being delivered in accordance with the requirements of Item 601(b)(5) of
Regulation S-K under the Securities Act of 1933, as amended (the Securities Act).
In connection with this opinion, we have examined originals or copies, certified or otherwise
identified to our satisfaction, of:
Express Scripts, Inc.
May 2, 2011
Page 2
May 2, 2011
Page 2
(i) | the registration statement on Form S-3 (File Nos. 333-159654) of the Company and the Guarantors relating to the Securities and other securities of the Company and the Guarantors filed on June 2, 2009 with the Securities and Exchange Commission (the Commission) under the Securities Act allowing for delayed offerings pursuant to Rule 415 of the General Rules and Regulations under the Securities Act (the Rules and Regulations) and Post-Effective Amendment No. 1 thereto, including information deemed to be a part of the registration statement pursuant to Rule 430B of the Rules and Regulations (such registration statement, as so amended, being hereinafter referred to as the Registration Statement); | ||
(ii) | the prospectus, dated April 27, 2011, which forms a part of and is included in the Registration Statement; | ||
(iii) | the prospectus supplement, dated April 27, 2011, relating to the offering of the Securities in the form filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations; | ||
(iv) | the term sheet containing the final terms of the Securities dated April 27, 2011, as filed with the Commission pursuant to Rule 433 of the Rules and Regulations; | ||
(v) | the Statement of Eligibility and Qualification under the Trust Indenture Act of 1939, as amended, on Form T-1, of the Trustee; | ||
(vi) | an executed copy of the Underwriting Agreement; | ||
(vii) | the certificates evidencing the Notes (the Note Certificates); | ||
(viii) | each notation of guarantee (the Guarantees and, together with the Notes, the Securities) of each of the Guarantors, endorsed on the Note Certificates; | ||
(ix) | executed copies of each of the Base Indenture and the Sixth Supplemental Indenture; |
Express Scripts, Inc.
May 2, 2011
Page 3
May 2, 2011
Page 3
(x) | the Amended and Restated Certificate of Incorporation of the Company, as amended, as certified by the Secretary of State of the State of Delaware (the Certificate of Incorporation); | ||
(xi) | the Third Amended and Restated Bylaws of the Company, as certified by the Secretary of the Company (the Bylaws); | ||
(xii) | the organizational documents of each of the Delaware Guarantors (as defined below), as certified by the Secretary of State of the State of Delaware (the Delaware Organizational Documents); | ||
(xiii) | the certificates of incorporation of each of the Massachusetts Guarantors (as defined below), as certified by the Secretary of the Commonwealth of the Commonwealth of Massachusetts (the Massachusetts Organizational Documents); | ||
(xiv) | the organizational documents of the New York Guarantor (as defined below), as certified by the Secretary of State of the State of New York (the New York Organizational Documents); | ||
(xv) | the bylaws, limited liability company agreement, operating agreement, partnership agreement or other governing agreement, as applicable, of each of the Specified Guarantors (as defined below), as certified by the Corporate Secretary or Secretary, as applicable, of each of the Specified Guarantors (together with the Delaware Organizational Documents, Massachusetts Organizational Documents and the New York Organizational Documents, the Specified Guarantor Governance Documents); | ||
(xvi) | certain resolutions of the Board of Directors of the Company, adopted on May 27, 2009 and March 2, 2011 and resolutions of the Financing Committee thereof, adopted on April 27, 2011, as certified by the Secretary of the Company; and | ||
(xvii) | certain resolutions adopted by the board of directors or managers or partners, as applicable, of each of the Specified Guarantors adopted on April 27, 2011, as certified by the Corporate Secretary or Secretary, as applicable, of each of the Specified Guarantors. |
Express Scripts, Inc.
May 2, 2011
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May 2, 2011
Page 4
We have also examined originals or copies, certified or otherwise identified to our
satisfaction, of such records of the Transaction Parties and such agreements, certificates and
receipts of public officials, certificates of officers or other representatives of the Transaction
Parties and others, and such other documents as we have deemed necessary or appropriate as a basis
for the opinions set forth below.
In our examination, we have assumed the legal capacity of all natural persons, the genuineness
of all signatures, the authenticity of all documents submitted to us as originals, the conformity
to original documents of all documents submitted to us as facsimile, electronic, certified or
photostatic copies, and the authenticity of the originals of such copies. In making our
examination of executed documents, we have assumed that the parties thereto, other than the Company
and the Specified Guarantors, had the power, corporate or other, to enter into and perform all
obligations thereunder and have also assumed the due authorization by all requisite action,
corporate or other, and the execution and delivery by such parties of such documents and, except to
the extent expressly set forth in paragraph 2 below, the validity and binding effect thereof on
such parties. We have also assumed that each of the Non-Specified Guarantors (as defined below)
has been duly organized and is validly existing in good standing, and has requisite legal status
and legal capacity, under the laws of its jurisdiction of organization and that each of the
Non-Specified Guarantors has complied and will comply with all aspects of the laws of all relevant
jurisdictions (including the laws of the jurisdiction of organization of each of the Non-Specified
Guarantors) in connection with the transactions contemplated by, and the performance of its
obligations under, the Transaction Documents, other than the laws of the State of Delaware, the
Commonwealth of Massachusetts and the State of New York insofar as we express our opinions herein.
We have also assumed that the terms of the Notes and the Guarantees have been established so as not
to, and that the execution and delivery by the Transaction Parties of the Transaction Documents and
the performance by the Transaction Parties of their obligations thereunder, do not and will not
violate, conflict with or constitute a default under (i) any agreement or instrument to which any
of the Transaction Parties or any of their properties are subject (except that we do not make the
assumption set forth in this clause (i) with respect to those agreements and instruments which are
listed in Part 2 of the Registration Statement or the Companys Annual Report on Form 10-K), (ii)
any law, rule, or regulation to which the Transaction Parties or any of their properties are
subject (except that we do not make the assumption set forth in this clause (ii) with respect to
the Opined on Law (as defined below)), (iii) any judicial or regulatory order or decree of any
governmental authority or (iv) any consent, approval, license, authorization or validation of, or
filing, recording or registration with, any governmental authority. As to any facts material to
the opinions expressed herein that we did not independently establish or verify, we have relied
upon statements and representations of officers and other representatives of the Transaction
Parties and others and of public officials.
The Guarantors listed on Schedule II hereto are referred to as the Delaware
Guarantors, the Guarantors listed on Schedule III hereto are referred to as the
Express Scripts, Inc.
May 2, 2011
Page 5
May 2, 2011
Page 5
Massachusetts Guarantors, and the Guarantor listed on Schedule IV hereto is referred to
as the New York Guarantor. The Delaware Guarantors, the Massachusetts Guarantors and the New York
Guarantor are referred to collectively as the Specified Guarantors. The Guarantors listed on
Schedule V hereto are referred to as the Non-Specified Guarantors.
The opinions set forth below are subject to the following further qualifications, assumptions
and limitations:
(a) the validity or enforcement of any agreements or instruments may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors
rights generally and by general principles of equity (regardless of whether enforceability is
considered in a proceeding in equity or at law);
(b) we do not express any opinion as to the applicability or effect of any fraudulent
transfer, preference or similar law on the Securities;
(c) we do not express any opinion as to the enforceability of any rights to indemnification or
contribution that may be violative of the public policy underlying any law, rule or regulation
(including any federal or state securities law, rule or regulation); and
(d) to the extent any opinion relates to the enforceability of the choice of New York law and
choice of New York forum provisions of the Transaction Documents, our opinion is rendered in
reliance upon N.Y. Gen. Oblig. Law §§ 5-1401, 5-1402 (McKinney 2001) and N.Y. C.P.L.R. 327(b)
(McKinney 2001) and is subject to the qualification that such enforceability may be limited by
public policy considerations.
We do
not express any opinion as to any laws other than the General Corporation Law of the
State of Delaware, the Delaware Limited Liability Company Act, the Delaware Revised Uniform Partnership Act, the Massachusetts Business
Corporation Act, the Business Corporation Law of the State of New York and those laws, rules and
regulations of the State of New York that, in our experience, are normally applicable to
transactions of the type contemplated by the Transaction Documents and, to the extent that judicial
or regulatory orders or decrees or consents, approvals, licenses, authorizations, validations,
filings, recordings or registrations with governmental authorities are relevant, to those required
under such laws (all of the foregoing being referred to as Opined on Law). We do not express any
opinion with respect to the law of any jurisdiction other than Opined on Law or as to the effect of
any such non-Opined on Law on the opinions herein. The opinions expressed herein are based on laws
in effect on the date hereof, which laws are subject to change with possible retroactive effect.
Based upon the foregoing and subject to the limitations, qualifications, exceptions and
assumptions set forth herein, we are of the opinion that:
Express Scripts, Inc.
May 2, 2011
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May 2, 2011
Page 6
1. When duly authenticated by the Trustee and issued and delivered by the Company against
payment therefor in accordance with the terms of the Underwriting Agreement and the Indenture, the
Notes will constitute valid and binding obligations of the Company entitled to the benefits of the
Indenture and enforceable against the Company in accordance with their terms.
2. When the Notes are duly authenticated by the Trustee and issued and delivered by the
Company against payment therefor in accordance with the terms of the Underwriting Agreement and the
Indenture, the Guarantee of each Guarantor will constitute the valid and binding obligation of such
Guarantor, entitled to the benefits of the Indenture and enforceable against such Guarantor in
accordance with its terms.
We hereby consent to the filing of this opinion with the Commission as an exhibit to the
Registration Statement. We also hereby consent to the reference to our firm under the caption
Legal Matters in the Registration Statement. In giving this consent, we do not thereby admit that
we are included in the category of persons whose consent is required under Section 7 of the
Securities Act or the Rules and Regulations. This opinion is expressed as of the date hereof
unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent
changes in the facts stated or assumed herein or of any subsequent changes in applicable law.
Very truly yours, | ||||
/s/ Skadden, Arps, Slate, Meagher & Flom LLP | ||||
SCHEDULE I
Subsidiary Guarantors | Jurisdiction of Incorporation or Formation | |||
Airport Holdings, LLC
|
New Jersey | |||
Byfield Drug, Inc.
|
Massachusetts | |||
Care Continuum, Inc.
|
Kentucky | |||
CFI of New Jersey, Inc.
|
New Jersey | |||
Chesapeake Infusion, Inc.
|
Florida | |||
ConnectYourCare Company, LLC
|
Delaware | |||
ConnectYourCare, LLC
|
Maryland | |||
CuraScript, Inc.
|
Delaware | |||
CuraScript PBM Services, Inc.
|
Delaware | |||
Diversified Pharmaceutical Services, Inc.
|
Minnesota | |||
ESI Acquisition, Inc.
|
New York | |||
ESI Claims, Inc.
|
Delaware | |||
ESI Enterprises, LLC
|
Delaware | |||
ESI-GP Holdings, Inc.
|
Delaware | |||
ESI Mail Order Processing, Inc.
|
Delaware | |||
ESI Mail Pharmacy Service, Inc.
|
Delaware | |||
ESI Partnership
|
Delaware | |||
ESI Realty, LLC
|
New Jersey | |||
ESI Resources, Inc.
|
Minnesota | |||
Express Scripts Canada Holding, Co.
|
Delaware | |||
Express Scripts Canada Holding, LLC
|
Delaware | |||
Express Scripts MSA, LLC
|
Florida | |||
Express Scripts Pharmaceutical Procurement, LLC
|
Delaware | |||
Express Scripts Sales Development Co.
|
Delaware | |||
Express Scripts Senior Care, Inc.
|
Delaware | |||
Express Scripts Senior Care Holdings, Inc.
|
Delaware | |||
Express Scripts Specialty Distribution Services, Inc.
|
Delaware | |||
Express Scripts Utilization Management Co.
|
Delaware | |||
Express Scripts WC, Inc.
|
Florida | |||
Freco, Inc.
|
Florida | |||
Freedom Service Company, LLC
|
Florida | |||
Healthbridge, Inc.
|
Delaware | |||
Healthbridge Reimbursement and Product Support, Inc.
|
Massachusetts | |||
iBiologic, Inc.
|
Delaware | |||
IVTx, Inc.
|
Delaware | |||
Lynnfield Compounding Center, Inc.
|
Florida | |||
Lynnfield Drug, Inc.
|
Florida | |||
Matrix GPO LLC
|
Indiana | |||
Mooresville On-Site Pharmacy, LLC
|
Delaware | |||
National Prescription Administrators, Inc.
|
New Jersey | |||
Priorityhealthcare.com, Inc.
|
Florida | |||
Priority Healthcare Corporation
|
Indiana | |||
Priority Healthcare Corporation West
|
Nevada | |||
Priority Healthcare Distribution, Inc.
|
Florida | |||
Priority Healthcare Pharmacy, Inc.
|
Florida |
Subsidiary Guarantors | Jurisdiction of Incorporation or Formation | |||
Sinuspharmacy, Inc.
|
Florida | |||
Specialty Infusion Pharmacy, Inc.
|
Florida | |||
Spectracare, Inc.
|
Kentucky | |||
Spectracare Health Care Ventures, Inc.
|
Kentucky | |||
Spectracare of Indiana
|
Indiana | |||
Spectracare Infusion Pharmacy, Inc.
|
Kentucky | |||
Value Health, Inc.
|
Delaware | |||
YourPharmacy.com, Inc.
|
Delaware |
SCHEDULE II
Delaware Guarantors | Jurisdiction of Incorporation or Formation | |||
ConnectYourCare Company, LLC
|
Delaware | |||
CuraScript, Inc.
|
Delaware | |||
CuraScript PBM Services, Inc.
|
Delaware | |||
ESI Claims, Inc.
|
Delaware | |||
ESI Enterprises, LLC
|
Delaware | |||
ESI-GP Holdings, Inc.
|
Delaware | |||
ESI Mail Order Processing, Inc.
|
Delaware | |||
ESI Mail Pharmacy Service, Inc.
|
Delaware | |||
ESI Partnership
|
Delaware | |||
Express Scripts Canada Holding, Co.
|
Delaware | |||
Express Scripts Canada Holding, LLC
|
Delaware | |||
Express Scripts Pharmaceutical Procurement, LLC
|
Delaware | |||
Express Scripts Sales Development Co.
|
Delaware | |||
Express Scripts Senior Care, Inc.
|
Delaware | |||
Express Scripts Senior Care Holdings, Inc.
|
Delaware | |||
Express Scripts Specialty Distribution Services, Inc.
|
Delaware | |||
Express Scripts Utilization Management Co.
|
Delaware | |||
Healthbridge, Inc.
|
Delaware | |||
iBiologic, Inc.
|
Delaware | |||
IVTx, Inc.
|
Delaware | |||
Mooresville On-Site Pharmacy, LLC
|
Delaware | |||
Value Health, Inc.
|
Delaware | |||
YourPharmacy.com, Inc.
|
Delaware |
SCHEDULE III
Massachusetts Guarantors | Jurisdiction of Incorporation or Formation | |||
Byfield Drug, Inc.
|
Massachusetts | |||
Healthbridge Reimbursement and Product Support, Inc.
|
Massachusetts |
SCHEDULE IV
New York Guarantor | Jurisdiction of Incorporation or Formation | |||
ESI Acquisition, Inc.
|
New York |
SCHEDULE V
Non-Specified Guarantors | Jurisdiction of Incorporation or Formation | |||
Airport Holdings, LLC
|
New Jersey | |||
Care Continuum, Inc.
|
Kentucky | |||
CFI of New Jersey, Inc.
|
New Jersey | |||
Chesapeake Infusion, Inc.
|
Florida | |||
ConnectYourCare, LLC
|
Maryland | |||
Diversified Pharmaceutical Services, Inc.
|
Minnesota | |||
ESI Realty, LLC
|
New Jersey | |||
ESI Resources, Inc.
|
Minnesota | |||
Express Scripts MSA, LLC
|
Florida | |||
Express Scripts WC, Inc.
|
Florida | |||
Freco, Inc.
|
Florida | |||
Freedom Service Company, LLC
|
Florida | |||
Lynnfield Compounding Center, Inc.
|
Florida | |||
Lynnfield Drug, Inc.
|
Florida | |||
Matrix GPO LLC
|
Indiana | |||
National Prescription Administrators, Inc.
|
New Jersey | |||
Priorityhealthcare.com, Inc.
|
Florida | |||
Priority Healthcare Corporation
|
Indiana | |||
Priority Healthcare Corporation West
|
Nevada | |||
Priority Healthcare Distribution, Inc.
|
Florida | |||
Priority Healthcare Pharmacy, Inc.
|
Florida | |||
Sinuspharmacy, Inc.
|
Florida | |||
Specialty Infusion Pharmacy, Inc.
|
Florida | |||
Spectracare, Inc.
|
Kentucky | |||
Spectracare Health Care Ventures, Inc.
|
Kentucky | |||
Spectracare of Indiana
|
Indiana | |||
Spectracare Infusion Pharmacy, Inc.
|
Kentucky |