Lincare scoops up PSA's oxygen biz

Saturday, September 30, 2006

CLEARWATER, Fla. - Lincare will pay $35.2 million in cash for the respiratory-therapy division of Pediatric Services of America, the Norcross, Ga.-based PSA announced in an Aug. 28 release. PSA's respiratory division had revenue of about $14.3 million in the third quarter of 2006, about one-third of the company's total revenue. PSA sold the division to focus on its core business, pediatric nursing, the company stated in the release. Lincare will pay $31.2 million upon closing, with the remaining $4 million contingent on PSA's respiratory division meeting certain performance goals.