Landauer hits stride with new model
Despite its successes, Landauer Metropolitan execs say there was a steep learning curve when the provider entered a brand-new business line last year.
In February 2007, Landauer acquired Metuchen, N.J.-based Home Care Services, a provider that generated half of its $8.5 million in revenues from home infusion services.
“We struggled with it at first,” said Joe Luceri, CFO. “We made a mistake in that we thought we could run the business co-mingled with the HME side. We quickly learned that wasn’t a winning formula.”
Landauer switched gears, separating the home infusion business from HME, and developed a strong, clinically-oriented infusion management team, said Lou Rocco, CEO. The company now has a full-time nursing staff and a nutritionist and offers high-end cardiac and total parenteral nutrition services, he said.
“We’ve totally refocused the business,” he said. “We’ve restructured it to become a niche high quality provider.”
The company is already seeing improvement, said Luceri.
“Next year will be a very good year for the infusion business,” he predicted.