Former Rotech President Griggs heads HME roll-up

Sunday, March 30, 2003

March 31, 2003

ORLANDO, Fla. - Former Rotech President Steve Griggs is back in the saddle and heading a group of investors intent on rolling up a sizeable home respiratory therapy company.

AeroCare Holdings acquired two HME companies in Colorado in March, which it added to existing locations in Florida, Texas, Arkansas, Nevada and Missouri. Griggs, 45, declined to name the companies AeroCare acquired in Colorado, or any of its other operations. But the company’s game plan calls for both acquiring companies and starting branches up from scratch, Griggs said.

“ Everything has gone better than expected,” Griggs said. “When you are growing and expanding, those are fun times for all employees, reminisent of some of the older days of Rotech.”

AeroCare has been flying below the radar screen since 2000, but last November it partnered up with two private equity groups and with that cash backing now appears poised for some serious growth.