Business Services Industry
PolyMedica Industries, Inc. Acquires Liberty Medical Supply, Inc
Business Wire, Sept 5, 1996
WOBURN, Mass.--(BUSINESS WIRE)--September 5, 1996--PolyMedica Industries, Inc. (AMEX: PM) today announced that it has completed the terms of its letter of intent and acquired Liberty Medical Supply, Inc., a privately-owned company which distributes testing supplies, medical products, and educational materials to patients with diabetes. The purchase price of approximately $9 million was paid in cash, notes and shares of PolyMedica Common Stock. For the current year, Liberty anticipates profitable revenues in excess of $13 million.
This press release contains certain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially as a result of various factors, including those discussed in the Company's 10-K and 10-Q on file with the Securities and Exchange Commission.
CONTACT: PolyMedica Industries, Inc.
Steven J. Lee,
Chairman and Chief Executive Officer
617/933-2020
or
Sitrick And Company,
Jeff Lloyd/Jody Martin,
310/788-2850
Anne George,
212/788-2850
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