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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.)
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To: PAR who wrote (2962)11/30/1999 10:15:00 AM
From: Arthur Radley  Read Replies (2) of 3414
 
WOBURN, Mass.--(BUSINESS WIRE)--Nov. 30, 1999--PolyMedica Corporation (NNM: PLMD) today announced that it is doubling direct-to-patient capacity for its rapidly growing diabetes supply and respiratory medication business. Construction has recently begun on a 72,000 square foot facility in Port St. Lucie, FL, which will feature the technological advances in the Company's proprietary software and telecommunications capacity that have been under development during the past year for its Liberty Medical Supply, Inc., subsidiary.

Liberty now accounts for slightly over 80% of PolyMedica's total revenues, and its growth continues to be robust. During the first half of fiscal 2000, gross margin rose to 57.3% from 52.1% a year earlier. PolyMedica's net income increased 98% on a 48% revenue gain during the first half of fiscal 2000.
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