PolyMedica Mourns Passing of Chairman of Board

  
    
  
  
    
      PolyMedica Corporation (NASDAQ: PLMD) today announced that Thomas O. 
      Pyle, Chairman of the Board of Directors for PolyMedica, passed away 
      this morning, following a long illness. The Company also announced that 
      James J. Mahoney, Jr., currently a director of PolyMedica, has been 
      named Chairman of the Board.
    
    
      Mr. Pyle joined PolyMedica’s Board of 
      Directors in May 2004 and was named Chairman of the Board in September 
      2005. Mr. Pyle’s 30-year career in the 
      healthcare field includes serving as Chief Executive Officer of MetLife 
      HealthCare, where he initiated the combination of the MetLife insurance 
      business with that of Travelers, creating METRA, then the largest 
      company in healthcare, and Chief Executive Officer of Harvard Community 
      Health Plan (now Harvard Pilgrim Healthcare) where he oversaw the Company’s 
      growth to one of the nation’s largest 
      non-profit healthcare organizations. Mr. Pyle also served as a director 
      of numerous public companies and sat on the Boards of both private and 
      non-profit groups. In addition, he was the founding chairman of 
      Controlled Risk Insurance Co., the malpractice insurance company that 
      insures all of the Harvard Medical School faculty and the 
      Harvard-affiliated medical institutions.
    
    
      Mr. Mahoney joined PolyMedica’s Board in 
      November 2005. Mr. Mahoney currently serves as President and Advisor of 
      the Mahoney Group, a private financial consulting firm that Mr. Mahoney 
      founded in 2004. Prior to founding the Mahoney Group, he co-founded the 
      venture capital and equity investment firm HLM Management Company, where 
      he spent 20 years working with portfolio companies in technology, 
      healthcare services, medical technology and business services. Mr. 
      Mahoney’s vast experience includes having 
      served as general partner for Cowen & Company and as a securities 
      analyst at Keystone Custodian Funds. Mr. Mahoney began his career in 
      finance at Touche Ross & Company. He has significant Board experience 
      with public and private companies and charitable organizations.
    
    
      Commenting on the announcement, Chief Executive Officer Patrick Ryan 
      said, “We are deeply saddened by Tom’s 
      death, and we extend our heart felt sympathies to his family and 
      friends. Tom’s leadership has left an 
      indelible imprint upon our company and me personally. We will miss him 
      as both a valuable member of our Board and as a true friend.”
    
    
      About PolyMedica
    
    
      For more than a decade, PolyMedica Corporation has been the nation’s 
      largest provider of blood glucose testing supplies and related services 
      to people with diabetes and today serves nearly one million active 
      diabetes patients. The Company also offers a full service pharmacy to 
      meet patients’ medication needs and provides 
      patient education to help its patients better manage their health 
      conditions. Through proactive patient outreach, convenient home delivery 
      and administrative support, PolyMedica makes it simple for patients to 
      obtain the supplies and medications they need, while encouraging 
      compliance with physicians’ orders. More 
      information about PolyMedica can be found on the Company’s 
      website at www.polymedica.com.