Fitch assigns BB- to MedImpact

Fitch Ratings said it assigned a BB- issuer default rating to MedImpact Holdings, Inc. and its issuing subsidiary, MI OpCo Holdings, Inc.

The outlook is positive.

MedImpact is a top-five pharmacy benefit manager (PBM) but is significantly smaller than its three largest competitors. Significant size differences are less pronounced than revenues imply (due to differing accounting policies and varied business mixes), but is nevertheless meaningful in a largely consolidated industry where scale is very important, Fitch explained.

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