PolyMedica Acquires Assets and Business of National Diabetic

PolyMedica has announced that its subsidiary Liberty Medical Supply acquired substantially all of the assets, excluding receivables, and the business of National Diabetic Assistance (NDAC).

NDAC provides diabetes testing supplies and respiratory medications primarily to Medicare beneficiaries throughout the country. NDAC's unaudited revenues for 2004 were roughly $15 million, and as of the closing the company had an active patient base of approximately 29,000.

Under the terms of the transaction, PolyMedica has agreed to pay approximately $13.6 million for NDAC's patient list and most of its assets, including inventory and equipment. The company also purchased NDAC's Deerfield Beach, Fla., facility for an additional $3.5 million.

Separately, PolyMedica announced that in the quarter ended Dec. 31, 2004, its Liberty unit also purchased the inventory and active patient base of another diabetes-testing supplier serving approximately 7,500 patients.