Medco Health Solutions Inc., the giant prescription benefit manager, will acquire PolyMedica Corp., a direct marketer of diabetes treatment products, for $1.5 billion.
PolyMedica has about 1 million customers which use its home delivery services of diabetes medicines as well as strips and meters to test blood sugar.
Medco already has 2.8 million customers with diabetes — more than one-quarter of all insured diabetics. With the purchase, the company could eventually treat half the nation’s insured diabetics, according to news reports.
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