Tuesday, August 31, 2004

Apria promotes COO to president

LAKE FOREST, Calif. - Apria Healthcare has promoted Lawrence A. Mastrovich to president in addition to his existing title of chief operating officer, which he has held since 2002. A 1984 graduate of Clarion University of Pennsylvania, Mastrovich began his career with Apria Healthcare in Philadelphia, Pa. as a management trainee. During his 20-year career, he assumed progressively more responsible roles as district manager, regional vice president of operations, and division vice president of operations for the Northeast Division. In 1997, he was named corporate executive vice president of revenue management and subsequently assumed the role of executive vice president of sales.
Enose doubles space with new location

NEW BEDFORD, Mass. - Jay Enose started Enose Home Oxygen Therapy 30 years ago in his garage and over time rented space as he needed it. In July, he “bit the bullet” and laid plans to build a new 15,000-square-foot facility where he’ll consolidate his existing three locations, which together total about 7,500 square feet. In addition to warehouse and office space, the new building will include a 2,000-square-foot showroom for cash and rental items and a new CPAP fitting room. Enose hopes the CPAP room will entice customers to come in for training and fitting and reduce his delivery costs. With the new showroom, he’s looking to increase cash sales. “Medicare is going to slap us hard and we’ve got to figure other ways to make money,” he said.
Rotech boosts respiratory business

ORLANDO, Fla. - Rotech Healthcare generated 87% of its business from home respiratory equipment and services during the first six months of this year compared to 83% during the same period in 2003, the company stated in its second quarter financial statement. DME revenues represented 12% of total revenue for the first six months of 2004, versus 15% for the same period last year. For the six months that ended June 30, net revenues were $267.4 million versus $298.3 million last year. The company tallied net earnings of $19.4 million through June compared to a net loss of $1.7 million last year.

Revenues decreased due to Rotech discontinuing contracts and business lines that did not meet the company’s profit requirements. Decreased Medicare reimbursement for respiratory drugs also contributed to the decrease, state CEO Philip Carter in a release.