Briefs: Lincare declares dividend, appoints two to board
CLEARWATER, Fla. - Lincare announced Oct. 1 that its board of directors declared a quarterly cash dividend of $0.20 per common share. The dividend was payable on Oct. 29, 2010 to stockholders of record as of the close of business on Oct. 15, 2010...In other news, Lincare announced in September the elections of Ellen Zane and Angela Bryant to its board of directors. Zane is president and CEO of Tufts Medical Center and Bryant served as Lincare's general counsel from 1999 through 2004.
A new HME player?
CORAL SPRINGS, Fla. - Valiant Health Care, which provides in-home services like care management and personal care through its Accessible Home Health Care Division, plans to acquire Atlantic Medical Supply, a Miami-based HME provider, it announced in September. "The acquisition of Atlantic, a DME provider, is the next important step toward achieving our objective of being a 'one-stop provider' of home health care," stated the co-founder of Accessible in a release. Valiant plans to acquire all outstanding shares of Atlantic Medical Supply in exchange for cash, shares of Valiant's common stock, and options to purchase shares of Valiant's stock.
Hospital recognizes home care's future
DENVER - Catholic Health Initiatives (CHI), a national nonprofit health organization, has acquired Consolidated Health Services, a Milford, Ohio-based provider of home health care products and services, including HME and infusion therapy, it announced in October. CHI plans to operate Consolidated as a separate business unit and it does not plan any significant changes to staffing or management, according to news reports. It does, however, plan to use Consolidated as a jumping off point for expansion into home health care nationally, company officials say. "Together, we are well positioned for the future as more and more health services in the U.S. are being delivered outside hospitals," Kevin Lofton, CHI president and CEO, told the Denver Business Journal when the deal was announced in August.
DEVILS LAKE, N.D. - Care Medical, the DME arm of Mercy Hospital, plans to close its doors on Nov. 30, according to a local newspaper. The reason: "The challenges of providing this service have been many."