Rotech makes buys
ORLANDO, Fla. – Rotech Healthcare announced Dec. 19 that is has acquired three home medical equipment companies, which will add an expected $11 million to its bottom line for 2012.
The three companies are Best Care HHC Acquisition Company, NeighborCare Home Medical Equipment of Maryland and NeighborCare Home Medical Equipment.
“We expect the acquisition of these NeighborCare home medical entities to have a positive impact on Rotech’s financial performance in 2012 and beyond, as well as to expand our presence in the Philadelphia, Baltimore and other East Coast markets,” stated President and CEO Philip Carter in a press release.
Rotech could use the boost, based on its latest earnings report. It reported in November net revenues of $122.8 million for the third quarter of this year compared to $125 million for the same period last year. It reported a net loss of $1.7 million vs. a net income of $2.5 million.