Medco completes $1.5 billion acquisition of PolyMedica

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Medco Health Solutions, Inc. completed its $53-per-share acquisition of PolyMedica Corp. on Wednesday, according to a form 8-K filing with the Securities and Exchange Commission.

On Aug. 28, Medco agreed to acquire PolyMedica in an all-cash transaction valued at $1.5 billion.

Medco is a Franklin Lakes, N.J., pharmacy benefits manager. The company manages more than $6.5 billion in drug spending related to its 2.8 million patients under treatment for diabetes.

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

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