Tuesday, December 31, 2002

N. California loses another independent
SAN JOSE, Calif. - Another sizable California independent bowed out of the business last month. M&M Home Medical sold to Lincare in November, 14 years after the company’s principal, David Kinskey, bought into the industry. A one-time proponent of the one-stop shop, Kinskey later shied away from that strategy, citing frustrations with the managed care paradigm. The sale comes just a few months after another large northern California independent, Sacramento’s John David Company, was sold to Apria.
Canadian investors buy into NYC market

MT. VERNON, N.Y. - Landauer-Metropolitan, one of the New York City area’s largest independents, strengthened its hand last month when two Canadian investors paid $7.63 million for a minority share of the company. The investors are Clairvest Group and Clairvest Equity Partners Limited Partnership. “As the number one supplier in its region, Landauer-Metropolitan is strategically positioned to take advantage of continued consolidation,” said Ken Rotman, co-CEO of Clairvest. “Landauer-Metropolitan is our partner of choice in the HME industry, due to the strength of their management team and superior performance. Given the population density of their service area, the company is uniquely positioned to grow internally and through acquisitions, without spreading out its operations.”
Short takes from here and there

The Greater Topeka Chamber of Commerce named Knoll Patient Supply one of two Small Business of the Year award winners…The Midwest Association for Medical Equipment Services (MAMES) celebrated its 20-year anniversary in October… Upstate Homecare has been accredited by the Accreditation Commission for Healthcare (ACHC)… Canadian Valley Medical Solutions of El Reno, Okla., has been accredited by ACHC ...Respiratory Solutions has outgrown its 2,000-square-foot Johnston, R.I., headquarters and is scheduled to move into new 7,000-square-foot digs in Lincoln by Feb. 1.