PolyMedica Bought for $1.5bln Cash by Medco Health Solutions Inc
Filed under: Business, News | By: Roy
Posted on: August 28, 2007 | No Comments
PolyMedica Corp, a company that supplies treatments for diabetes has been bought for a massive $1.5billion in an all cash deal by Medco Health Solutions Inc.
Shareholders in PolyMedica will get a huge 17 per cent premium of their stock price as MedcoHealth has offered $53 per share.
PolyMedica is in the business of distributing blood glucose test kits, insulin, syringes, and other supplies directly to the houses of patient suffering from diabetes.
PolyMedica reported a $33.7 million profit for the fiscal year of 2007 and PolyMedica also reported $675.5 million in sales for that same period.
Do you think PolyMedica shareholders are receiving a fair price for their company?
PolyMedica trades as PLMB on the NASDAQ
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