Wakefield, Mass.-based PolyMedica Corp., parent of the Liberty Medical mail-order pharmacy, has acquired Conway, Ark.-based Anchor Medical, a national provider of diabetic supplies.
The purchase will add Anchor's approximately 15,000 diabetic patients to PolyMedica's 800,000 patients, according to Provident Healthcare Partners, a Boston-based investment banking firm that advised Anchor in the deal. “Through the use of a nationwide sales force, Anchor exhibited tremendous patient growth over the past three years,” said Kevin Palamara, director of mergers and acquisitions for Provident. “This transaction will bring Liberty a significant number of new Medicare patients requiring diabetic supplies” and demonstrates PolyMedica's continued growth in the expanding sector.
Orlando, Fla.-based Rotech Healthcare announced that it has entered a two-year, $120 million credit facility with Highland Financial Corp. The deal consists of $25 million in revolving credit that will be used for general corporate purposes including working capital, capital expenditures and permitted acquisitions, and a $95 million term loan that will be used to refinance the company's existing credit. According to Rotech President and CEO Philip Carter, the deal affords the 485-branch provider “increased financial flexibility.”
