Tag: Medco Health Solutions
In brief: Liberty Medical vs. Medco, another fraud hearing
April 25, 2014HME News Staff
PORT ST. LUCIE, Fla. - Liberty Medical has filed a complaint with the U.S. Bankruptcy Court for the District of Delaware against Medco Health Solutions alleging that Medco engaged in “inequitable conduct” during Liberty management's buyout of Medco's then-subsidiary Polymedica, a transaction that included the Liberty business. Liberty's management alleges, among other things, that it was only after filling for bankruptcy that they learned that more than $42 million listed...
Liberty files complaint against Medco
April 23, 2014HME News Staff
PORT ST. LUCIE, Fla. - Liberty Medical has filed a complaint with the U.S. Bankruptcy Court for the District of Delaware against Medco Health Solutions alleging that Medco engaged in “inequitable conduct” during Liberty management's buyout of Medco's then-subsidiary Polymedica, a transaction that included the Liberty business.Liberty's management alleges, among other things, that it was only after filling for bankruptcy that they learned that more than $42 million listed in accounts receivables...
In brief: Liberty files for bankruptcy, lawmakers push for MPP score
February 22, 2013HME News Staff
PORT ST. LUCIE, Fla. - Just months after a group of company execs bought Liberty Medical from its parent company, they filed for Chapter 11 bankruptcy on Feb. 15, according to news reports. In its filing, Liberty Medical cites between $100 million and $500 million in both assets and liabilities, and between 1,000 and 5,000 employees. It lists several unsecured creditors with disputed claims, including CGS Administrators, a Medicare claims processor, for $137.2 million; and its former owner Medco...
Liberty Medical liberates itself
January 4, 2013Theresa Flaherty, Managing Editor
PORT ST. LUCIE, Fla. - It may have come as a shock to many when Liberty Medical in December exited the Medicare fee-for-service diabetes supply business, but there was some behind-the-scenes movement leading up to that decision.
In December, a group of Liberty executives bought the company from its parent company, pharmacy benefit giant Express Scripts, which inherited Liberty as part of a $29 billion merger with Medco Health Solutions. From the get-go, Express Scripts made it clear that it had...
Liberty Medical exits Medicare market
December 20, 2012HME News Staff
PORT ST. LUCIE, Fla. - Mail-order provider Liberty Medical Supplies is getting out of the fee-for-service diabetes supply business, according to local news reports.
Liberty will reportedly sell its Medicare diabetes business to Coral Springs, Fla.-based Arriva Medical. As a result, Liberty will also lay off approximately 250 employees at its location here, and another 200 at its Salem, Va., location, according to multiple reports.
The announcements come just days after a group of Liberty...