PolyMedica snaps up company

Sunday, September 17, 2006

WAKEFIELD, Mass. - PolyMedica has acquired Conway, Ark.-based Anchor Medical, a nationwide supplier of diabetic supplies that was adding new patients at the rate of about 1,000 a month

Terms of the Sept. 11 deal were not disclosed.

The buy adds approximately 15,000 diabetes patients--99% of them Medicare--to PolyMedica's current base of 800,000, said Kevin Palamara, director of mergers and acquisitions for Boston-based Provident Healthcare Partners, which represented Anchor in the deal.

The move is in line with PolyMedica's goals to grow in the booming diabetic supply market. In July, the company acquired Specialty Medical Supply in Little Rock, Ark.

"They are looking at select acquisitions," said Palamara. "Any diabetic deal, they'll be looking at it."