Liberty enjoys revenue surge

Saturday, March 31, 2007

PORT ST. LUCIE, Fla. - Liberty Medical's third quarter revenues jumped 34% to $177.2 million for the fiscal year ended Dec. 31, up from $131.9 million during the same period the previous year. President Patrick Ryan credited the company's year-old pharmacy program--which adds 400 new customers per day--for driving that growth. Pharmacy revenues were up 157% over the same period last year, to $55.2 million. The company plans to partner with Franklin Lakes, N.J.-based Medco Health Solutions to fill prescriptions for its mail-order customers, a move that could mean the loss of about 20 employees, said CEO Stephen Farrell.