Done deal: Lincare buys AHP
CLEARWATER, Fla. – Lincare, a U.S. subsidiary of The Linde Group, has closed on its acquisition of Brentwood, Tenn.-based American HomePatient, it announced today.
Lincare announced its plans to buy AHP in December, pending requisite approvals from U.S. regulatory authorities.
“The acquisition strengthens Linde’s growth in the promising homecare market and reinforces the company’s position as global leader in this area of healthcare services,” the company stated in a press release.
AHP will be recognized in Lincare’s consolidated balance sheet as of Feb. 1.
No sooner was the ink dry on the deal came reports that AHP will consolidate its regional billing centers. The company will close four of its nine centers, cutting dozens of jobs, according to the Nashville Post.
One of the four centers closing is in Buffalo, N.Y., according to Buffalo Business First.
Officially, Lincare has only said: “(AHP) will be integrated into Lincare, expanding Lincare’s patient base well beyond the 1 million mark.”
In 2014, AHP generated revenues of $280 million, according to the release. It employs about 2,700 people in 220 branches across 38 states.