Laid off Rotech employees look to start their own companies
August 11 , 2003
ORLANDO, Fla. - Rotech employees laid off as part of the company’s restructuring under new CEO Phil Carter are wasting no time starting up their own home medical equipment businesses. Many of them also appear eager to include a respiratory pharmacy component.
“Quite a few have contacted me about buying drugs,” said Bill Kennedy, owner of Nephron Pharaceuticals, which manufactures albuterol and other respiratory drugs.
Kennedy’s not the only one receiving calls from former Rotech employees. Mickey Letson, owner of Letco Medical, has also gotten a number of calls. Letco helps HMEs start up their own pharmacies.
“I expect it will increase, and I expect that what will happen is that several will get together and open a DME with several locations and share a pharmacy,” Letson said. “That will give them more buying power.”
In what some former employees now refer to as “Black Friday,” Rotech laid off 500-750 employees on January 24.