Friday, February 28, 2003

O2 Science opens Rx
TEMPE, Ariz. - O2 Science, a regional provider of respiratory therapy services and home healthcare products, opened a respiratory pharmacy here last month. The company previously operated a smaller pharmacy from its San Diego location. The pharmacy will provide customized specialty compounding of respiratory medications, pharmacy compliance programs and also serve as an information hub for patients, physicians and other healthcare professionals seeking knowledge of medications supplied by the company.
Lincare’s stock takes a dive
CLEARWATER, Fla. - Lincare’ stock price dropped 8% on Jan. 30, prompting the company to issue the following statement: “We are not aware of the reasons for the unusual movement in the stock price today. To our knowledge, there have been no adverse developments in the business or any inquiries by any regulatory agencies other than in the ordinary course of business. HME
Court dismisses suit against Apria
LAKE FOREST, Calif. - The United States Court of Appeals dismissed a class action suit against Apria last week. The suit alleged that Apria made false and/or misleading statements in its public disclosures concerning a civil investigation of its Medicare billing documentation that has been pending since mid-1998. HME This lawsuit had been filed in August 2001 in the U.S. District Court for the Central District of California, Southern Division. On October 10, 2002, the District Court entered judgment in favor of Apria and dismissed the complaint. On November 8, 2002, the plaintiff appealed that dismissal. Last week, the Court of Appeals dismissed the appeal. This action leaves in place the District Court’s judgment and finally terminates the litigation in favor of Apria.
Short takes
Air Products and Chemicals will sell a small piece of its specialty chemicals business as part of its attempt to shed poorly performing units and focus on more profitable opportunities, including homecare. Air Products is using money from its asset sales to invest in high-growth areas such as health care. Last year, Air Products paid $165 million to buy American Homecare Supply, one of the largest independent HME providers in the country…Apria has donated $5,000 in reward money for information in the apparent random-shooting death of Victoria Mardis, who worked as a home-health nurse in the company’s Seattle operation. Mardis was shot about six months ago as she stopped to retrieve papers she accidentally had left on the roof of her car…Rotech Medical Corp. of Amherst, N.Y., was awarded a $33,050 contract from the U.S. Department of Veterans Affairs’ Medical Center in Spokane, Wash., for durable medical equipment services…Rotech Healthcare’s former owner, Intergrate Health Services, agreed in late January to sell most of its remaining assets, including its long-term care divison, to Abe Briarwood Corp for more than $97.5 million… O2 Science, a regional provider of respiratory therapy services and home healthcare products, has relocated its San Diego location to a new new 3,500-square-foot facility at 9380 Waples Street, Suite 104.