Gentiva Sells Respiratory, Infusion Businesses to Lincare
Gentiva says divesting businesses that generated at least $55 million in 2009 part of move to targe senior services.
- By David Kopf
- Feb 05, 2010
Gentiva Health Services Inc. has sold its respiratory equipment and services and infusion businesses to a subsidiary of Lincare Holdings Inc. for an undisclosed sum in an all-cash transaction.
The deal includes approximately forty locations in seven states providing respiratory therapy and DME and infusion therapy. Gentiva says that those businesses generated revenue of roughly $55 million for the trailing 12 months ended Sept. 27, 2009.
The company said the sale was part of a company strategy to divest “non-core assets.” This strategy has included the sale of a majority interest in CareCentrix, its ancillary care benefit management services provider in the summer of 2008, as well as the sale of branch offices specializing in pediatric and adult private duty services in March 2009.
Gentiva says it will focus its business primarily on home health and hospice services targeted to the senior population.
"The transaction continues our efforts to focus Gentiva on our core expertise in providing in-home geriatric care services," said Gentiva CEO and President Tony Strange. "By simplifying our business, we are able to direct our resources on internal and external growth initiatives in home health and hospice, including the continuing roll-out of our industry leading specialty care programs and the completion of strategic acquisitions.”
About the Author
David Kopf is the Editor of HME Business.