Medco will buy diabetes supplier

The largest manager of drug benefits in American, Medco Health Solutions, is all set to buy up PolyMedica. This company are the biggest supplier of glucose-testing equipment for diabetic patients. The size of the deal is rumoured to be around $1.3 billio, according to a joint announcement by both companies .
The news is good for shareholders in PolyMedican, who will each receive $53 per share . The diabetes care industry is rapidly growing, and it is a growing cost. As much as 5 per cent of the US population is now diabetic.
PolyMedica provide home delivery of both medicines and testing kits, including strips and blood glucose meters. As many as one million people in America use the company, and the Liberty Healthcare division that provides the drugs. The deal between the two firms is expected to be closed later this year.