8-K

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
     Date of Report (Date of earliest event reported): July 18, 2007

                             POLYMEDICA CORPORATION
               (Exact Name of Registrant as Specified in Charter)

       Massachusetts                  0-19842                    04-3033368
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(State or Other Jurisdiction        (Commission                 (IRS Employer
      of Incorporation)             File Number)             Identification No.)

     701 Edgewater Road, Suite 360
       Wakefield, Massachusetts                                     01880
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(Address of Principal Executive Offices)                          (Zip Code)

       Registrant's telephone number, including area code: (781) 486-8111

                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

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                                TABLE OF CONTENTS
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     Item 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
     SIGNATURE
     EXHIBIT INDEX
     Ex-99.1 Press Release dated July 18, 2007

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Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

     On July 18, 2007, Thomas O. Pyle, Chairman of the PolyMedica Corporation
Board of Directors, passed away following a long illness.

     James J. Mahoney, Jr. was named Chairman at a special meeting of the Board
of Directors held on July 18th. Mr. Mahoney, age 64, has been a member of
PolyMedica's Board since November 2005. Mr. Mahoney currently serves as
President 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, health care
services, medical technology and business services. Mr. Mahoney has also 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. Mr. Mahoney currently serves as a director of Aspect Medical Systems
and two privately held companies. Mr. Mahoney also serves as a trustee of
Blessed John XXIII National Seminary.

     A copy of the related press release is attached as Exhibit 99.1.


Exhibit Number        Description
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99.1                  Press Release dated July 18, 2007

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                                    SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       POLYMEDICA CORPORATION

Date: July 19, 2007                    By: /s/ Devin J. Anderson
                                       -----------------------------------------
                                       Devin J. Anderson
                                       Executive Vice President, General Counsel
                                       and Secretary

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                                  EXHIBIT INDEX

Exhibit Number        Description
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99.1                  Press Release dated July 18, 2007

EX-99.1

                                                                    Exhibit 99.1

                 PolyMedica Mourns Passing of Chairman of Board

                    James J. Mahoney, Jr., Named New Chairman

     WAKEFIELD, Mass.--(BUSINESS WIRE)--July 18, 2007--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.


     CONTACT: PolyMedica Corporation
              Stephen C. Farrell, 781-486-8111
              President