Prominent Polk County provider sells to Apria
By HME News Staff
Updated Sun October 5, 2003
October 6, 2003
AUBURNDALE, Fla. - Butch Vanderpool, the Polk County HME provider whose journey through competitive bidding drew national attention during the demonstration projects, has sold his business to Apria Healthcare, a company he worked for as a sales manager before launching Healthcare Diagnostics in 1996.
Vanderpool retained his rehab and sleep lab business, and he will stay with Healthcare Diagnostics as the company reorients itself as a branch of the nation's largest HME supplier chain.
Terms of the deal were not disclosed. In February 2001, Healthcare Diagnostics was generating about $5 million per year, and business was growing despite his participation in two rounds of competitive bidding from 1999 to 2002.
Vanderpool's apparent success under competitive bidding, and his reluctance to condemn competitive bidding, rankled some industry advocates who believed that his ability to thrive in such a compromised reimbursement environment was not representative of suppliers at large. have to wait until 2007,” he said.
Comments