In brief: Linde places bond
MUNICH, Germany – Linde AG has successfully placed a bond for 1 billion euros to help finance its acquisition of Lincare, the company announced Sept. 5. The bond, which drew “huge demand” according to a press release, has a maturity of eight years and an interest rate of 1.75%. “It is crucial to be able to act swiftly in a volatile market climate,” stated Georg Denoke, a member of the executive board and CFO of Linde AG, in the release. Linde purchased Clearwater, Fla.-based Lincare for $4.6 billion in a deal completed Aug. 14.
Rice Home Medical buys Marvelle’s Apparel
WILLMAR, Minn. – Rice Home Medical, a durable medical equipment company based here, has announced the acquisition of Marvelle’s Apparel. Originally a home-based business that expanded to a retail store in Alexandria, Minn., Marvelle’s Apparel offers women’s health products, including mastectomy bras and nurse bras. Bill Fenske, CFO of Rice Memorial Hospital, stated in a release that the move will jump-start Rice Home Medical in the retail direction.
COPD, poor sleep linked
DUBLIN, Ireland – People with chronic obstructive pulmonary disease (COPD) are more likely to sleep poorly than their peers without the condition, a new study says. The study, published in Respirology, a medical journal, was conducted by researchers at St. Vincent’s University Hospital in Dublin, Ireland. Researchers found that low oxygen levels in arterial blood, which is caused by COPD, can damage sleep quality, and may lead to a host of other debilitating symptoms.
AmeriCare launches ‘lite’ website
TROY, Mich. – AmeriCare Medical launched a newly-designed website Sept. 12 to appeal to smartphone users. “We wanted to make it easier for customers to access the information they need,” stated Greg Jamian, president and CEO of AmeriCare Medical. The new website, www.americaremedical.com, automatically redirects smartphone users from the main website to AmeriCare Lite, a simpler, easier-to-load website.
Former HME provider pleads guilty to fraud
LAFAYETTE, La. – The former owner of a home medical equipment company has pleaded guilty to healthcare fraud, according to an Associated Press article. Dorothy Cole, the former owner of Rest Assure Home Medical Equipment, was charged in June with five counts of healthcare fraud for receiving more than $175,000 in Medicare reimbursements to which she was not entitled. From August 2007 through April 2009, her company provided beneficiaries with items such as power wheelchairs and scooters, and billed Medicare for more expensive items than what she actually provided.