Monday, April 26, 2010

American HomePatient perfects the stall

BRENTWOOD, Tenn. – American HomePatient had until April 16 to pay back about $226 million in debt. The provider announced recently that it has entered into its ninth forbearance agreement with NexBank and other creditors. The debt was first due to be repaid Aug. 1, 2009.

NASDAQ to Lincare: You’re next in line

CLEARWATER, Fla. – The NASDAQ announced in March that Lincare will be one of eight new companies whose securities will be featured in its Q-50 IndexSM. The index tracks the performance of the 50 securities that are next in line to replace the securities currently included in the NASDAQ-100 Index(R).

Fire destroys provider’s building, not business

MURFREESBORO, Tenn. – Fire destroyed Music City Medical Supply and the historic building it was in on March 20, according to local news reports. The provider is closed on weekends, and no injuries were reported. Owner Barton Dobson told local news outlets he was serving customers out of his Smyrna location. At press time, the cause of the fire was unknown.

MEDIchair hits milestone

BRANDON, Manitoba – MEDIchair celebrates its 25th anniversary this year. The company, a self-described “Canadian entrepreneurial success story,” began operations here in 1985 and opened its first franchise three years later. Other milestones from MEDIchair’s history: It hit 50 franchise locations in 2001; and it launched MEDIchair Ontario, Canada’s first provincial HME franchise company in 2009.

Short takes

Landauer Metropolitan has signed an agreement with Medical Alarm Concepts to distribute that company’s MediPendant, a medical alert device…Florida’s attorney general is suing Casselberry-based 02 Respiratory Home Medical Equipment of Florida for Medicaid fraud. The provider is accused of bilking the program out of $22,000…Hospice Express was accredited by ACHC, it announced in March. The Muncie, Ind.-based provider contracts with hospices to provide DME and oxygen.