Linde Buys American HomePatient to Bolster Healthcare Unit
By HospiMedica International staff writers Posted on 20 Dec 2015 |
The Linde Group (Munich, Germany), the largest gases engineering company in the world, has announced a definitive agreement to purchase American HomePatient (Brentwood, TN, USA).
Under the terms of the agreement, American HomePatient will be merged into Linde subsidiary Lincare (Clearwater, FL, USA), which provides respiratory services and equipment in approximately 1,000 locations across the 48 contiguous US states and Canada. The deal will make Linde the world's largest supplier of healthcare gases, helping to counteract weakness at its core industrial businesses due to a slowdown in industrial production and low oil prices that have hit customers in the petrochemical sector.
American HomePatient, founded in 1983, is one of the top five largest diversified home healthcare providers in the United States, with more than 220 locations, and specializes in respiratory therapies for patients with chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea (OSA). The company was sold to Linde by private equity group Highland Capital Management (Dallas, TX, USA) for an undisclosed amount. The deal is expected to close in the first quarter of 2016.
“The acquisition of American HomePatient will further our strategic growth as we strive to set the standard of excellence for respiratory care delivered in the home,” said Kristen Hoefer, CEO of Lincare. “Our dedication to quality care, professionalism and responsiveness has helped us achieve consistent growth and success, and we look forward to this opportunity to work with the employees and customers of American HomePatient.”
“This decision follows many months of strategic research, with the support of Highland Capital Management and our advisor Jefferies, LLC, and careful consideration to determine the best opportunity for our company,” said Mark Lamp, CEO and President of American HomePatient. “We are pleased to have found a partner in Lincare that placed a value on our growth, performance and experience. We look forward to working together to deliver on our shared commitment to outstanding customer service.”
“Under Highland's ownership, American HomePatient benefited from our strategic and operational resources, which helped its management team achieve strong growth while providing high-quality care to patients nationwide,” said Matt Jameson, co-head of Highland Capital Management, and Chairman of the Board at American HomePatient.
Related Links:
Linde Group
American HomePatient
Lincare
Under the terms of the agreement, American HomePatient will be merged into Linde subsidiary Lincare (Clearwater, FL, USA), which provides respiratory services and equipment in approximately 1,000 locations across the 48 contiguous US states and Canada. The deal will make Linde the world's largest supplier of healthcare gases, helping to counteract weakness at its core industrial businesses due to a slowdown in industrial production and low oil prices that have hit customers in the petrochemical sector.
American HomePatient, founded in 1983, is one of the top five largest diversified home healthcare providers in the United States, with more than 220 locations, and specializes in respiratory therapies for patients with chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea (OSA). The company was sold to Linde by private equity group Highland Capital Management (Dallas, TX, USA) for an undisclosed amount. The deal is expected to close in the first quarter of 2016.
“The acquisition of American HomePatient will further our strategic growth as we strive to set the standard of excellence for respiratory care delivered in the home,” said Kristen Hoefer, CEO of Lincare. “Our dedication to quality care, professionalism and responsiveness has helped us achieve consistent growth and success, and we look forward to this opportunity to work with the employees and customers of American HomePatient.”
“This decision follows many months of strategic research, with the support of Highland Capital Management and our advisor Jefferies, LLC, and careful consideration to determine the best opportunity for our company,” said Mark Lamp, CEO and President of American HomePatient. “We are pleased to have found a partner in Lincare that placed a value on our growth, performance and experience. We look forward to working together to deliver on our shared commitment to outstanding customer service.”
“Under Highland's ownership, American HomePatient benefited from our strategic and operational resources, which helped its management team achieve strong growth while providing high-quality care to patients nationwide,” said Matt Jameson, co-head of Highland Capital Management, and Chairman of the Board at American HomePatient.
Related Links:
Linde Group
American HomePatient
Lincare
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