Lincare: â€˜Our financial position is strong’
CLEARWATER, Fla. - Lincare added 77 new operating centers in 2004, bringing the total number of Lincare locations to 804. The company added 25 new operating centers through the acquisition of 26 companies with annual revenues of approximately $49 million and added an additional 52 locations through internal expansion, the company reported last month in its year-end financial statement. CEO John P. Byrnes stated, “Our financial position is strong and we are well positioned to absorb the significant Medicare reimbursement reductions. Lincare generated $418.9 million of cash from operating activities during 2004 and investments of cash included $83 million in business acquisition expenditures.”
Giant snow storm buries Cape Cod providers
SANDWICH, Mass. - A hard-hitting snow storm that blanketed Massachusetts with three feet of snow on Jan. 23-24 had Cape Medical Supply owner Mark Sheehan pleading at one point, “someone turn this thing off.” While the storm did its best to bury the Bay State, Cape Cod collected the biggest dumping. Fortunately, meteorologists accurately forecast the storm, giving Cape Medical and providers time to supply their respiratory patients with adequate back up oxygen. “We were fortunate that the snow wasn’t real heavy, and not a lot of power lines went down,” Sheehan said. The storm still made its presence know. Its high winds blew snow into an eight-foot drift that blocked Cape Medical’s side door. “We had to tunnel our way in,” Sheehan said.
Southern Comfort Medical, which opened in Atlanta three years ago, has opened an office in Heber Springs, Ga. ... Express Medical celebrated its grand opening in Biloxi, Miss., last month. Express Medical services include home medical equipment, wheelchairs, hospital beds, home oxygen, CPAPs, scooters, walkers, lift chairs and other items ... To increase its visibility, American Homecare Supply has relocated is Olean, N.Y. location from 1206 W. State St. to the Holiday Park Centre in Suite 213 at 2626 W. State St ... Arcadia Resources has unveiled its new Web site, www.ArcadiaResourcesInc.com