Gamco, Gabelli-led funds increase stake in PolyMedica

By Angela McDaniels

Seattle, Oct. 9 - PolyMedica Corp. investors led by Gamco Investors, Inc. and Gabelli Funds, LLC purchased 275,604 shares of the company's common stock between Sept. 26 and Oct. 4 for $52.40 to $52.70 per share.

They also sold 4,069 shares on Sept. 27 for $52.63 each.

The investors beneficially own 1,724,655 shares, or 7.52%, of the company, according to a schedule 13D filing with the Securities and Exchange Commission.

On Sept. 26, the investors reported the purchase 1,434,811 PolyMedica shares for a 6.34% stake in the company.

PolyMedica agreed on Aug. 28 to be acquired by Medco Health Solutions, Inc. in an all-cash transaction valued at $53.00 per share, or $1.5 billion.

PolyMedica provides blood glucose testing supplies and related services to people with diabetes. The company is based in Wakefield, Mass.

Medco is a Franklin Lakes, N.J., pharmacy benefits manager.

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