Top drug-benefit manager buys PolyMedica for $1.5b |
| Boston Globe - Aug 29, 2007 |
Massachusetts is about to lose another corporate headquarters -- but not many jobs.
In a $1.5 billion deal made public yesterday, Wakefield's PolyMedica Corp., a mail-order company that sells drugs and supplies to diabetes patients, agreed to sell itself to Medco Health Solutions Inc., the country's biggest manager of drug benefits.
Despite PolyMedica's impressive size -- it ranks as one of the largest publicly traded life sciences firms based in Massachusetts -- it has a tiny footprint here, muting the local impact of the sale.
PolyMedica has 2,300 employees, mostly in Florida. In Massachusetts it operates only a modest corporate headquarters and marketing office in Wakefield. Some of the 20 employees who work there will probably be retained after the deal is completed later this year, the company said.
Read Full Article from Boston Globe
- Posted: 2007-08-29 09:31:43
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