Liberty Medical is a susidiary of pharmacy benefits management company, Medco.
Liberty Medical is a direct-to-consumer supplier of prescription drugs, diabetes testing equipment, respiratory aids, and ostomy and colostomy supplies. Originally a subsidiary of PolyMedica, Liberty Medical was purchased by Medco in 2007 for $1.5 billion.
Medco Health Solutions, Inc
Liberty Medical is a subsidiary of Medco Health Solutions, Inc., a publicly traded pharmacy benefits management company with headquarters in Franklin Lakes, New Jersey. Medco was spun off from Merck in 2003. At the time, Medco accounted for 60 percent of Merck income. Nonetheless, according to "Forbes" magazine, Merck considered Medco a drag on profits as Medco margins were low.
Board of Directors
Medco is overseen by a nine-member board of directors consisting of eight independent board members and (as of January 2011) Medco Chairman and CEO David B. Snow Jr. Mr. Snow became CEO and chairman of Medco in 2003.
Corporate Structure
The government pharmacy benefits group oversees Medco's Medicare-funded services. Medco.com is the company's online pharmacy. The health plans group manages drug benefits for health insurers. Liberty Health Care is Medco's Liberty Medical subsidiary. Specialty pharmacist Accredo Health Inc. is a Medco subsidiary with subsidiaries of its own. Proherant Health Inc. and Critical Care Systems Inc. are Accredo subsidiaries; Hemophilia Health Services is a division within Accredo. In August, 2010, Medco formed a joint venture with Celesio, a Stuttgart-based pharmaceutical retailer. At the same time, the new company, Medco Celesio, was announced, Medco also announced the time had come to form a division, Medco International, to oversee Medco Celesio and Medco's other European interests, including Medco Health Solutions, a joint venture with Dublin-based United Drug Plc, and Medco Health Solutions' majority interest in Europa Apotheek Venlo, a health-care services and mail-order pharmacy firm serving Germany and the Netherlands.
