PBM snaps up mail order supply giant

Wednesday, October 31, 2007

FRANKLIN LAKES, N.J. - Medco Health Solutions bought PolyMedica for $1.5 billion, the companies announced in August. Medco is the largest manager of drug benefits in the country and, according to wire reports, provides prescriptions to 2.8 million diabetes patients. PolyMedica's Liberty Healthcare division currently offers home delivery of medicines, strips and meters to about 1 million customers. Medco has been handling prescriptions for PolyMedica's customers since 2006.