Briefs: Rotech, AHP, Lincare
Rotech says 'yes'
to several contracts
ORLANDO, Fla. - Rotech Healthcare has accepted 17 competitive bidding contracts, it announced July 12. The provider was awarded contracts in a total of nine MSAs, including six for oxygen supplies and equipment; six for enteral nutrients, equipment and supplies; three for CPAP, RADs and related supplies and accessories; and two for standard power wheelchairs, scooters and related accessories., "The application of the new competitive bid rates to our existing patient base in these nine MSAs reduces our revenue by approximately $900,000 in the first quarter of 2011," said President and CEO Philip Carter in a release. "We believe, however, that our market share gains in the cities where we were awarded contracts will more than offset the reductions in reimbursement rates over time."
AHP makes paper move to Nevada
BRENTWOOD, Tenn. - American HomePatient has reincorporated the company from Delaware to Nevada, through a merger agreement. There will be no change in the company name, headquarters, business, jobs, management, location of offices or facilities, number of employees, assets, liabilities or net worth, the company stated in release. AHP operates in 33 states.
Lincare boasts 'financial flexibility'
CLEARWATER, Fla. - Lincare has announced that its board of directors has agreed to pay quarterly cash dividends to stockholders. The dividends will be payable at a rate of $0.80 per share starting July 29, 2010, to stockholders of record as of July 15, 2010. The ex-dividend date for the quarterly dividend is July 13, 2010. "The announcement reflects our confidence in the company's long-term growth opportunities and financial strength," stated CEO John Byrnes in a release. "We are pleased to have the financial flexibility to continue investing in our business."
June was a busy month in the online HME world. Themedicalsupplydepot.com partnered with e-commerce company International Checkout to make its more than 25,000 products available to customers around the world...AllegroMedical.com has added more than 100 products to its incontinence offerings. The provider also offers DME and other health care aids online...MEDIChair has added online shopping to all of its franchisee websites. The Calgary, Alberta-based company offers DME, scooters and personal care items.