Rotech's revenues jump 5.9% in first quarter
ORLANDO, Fla. - Rotech Healthcare reported net revenues for the first quarter ended March 31, 2002, of $160 million, an increase of 5.9% over revenues of $151.2 million for the same quarter in the previous year. Operating earnings (earnings before interest, taxes, depreciation, amortization, reorganization charges and extraordinary gains) totaled $46.8 million for the first quarter of 2002, an increase of 14.2% versus operating earnings of $41 million in the year-ago period.
American HomePatient executives get raises
BRENTWOOD, Tenn. —According to an SEC filing made prior to the company's June 5 annual stockholder meeting: President and CEO Joseph Furlong got a raise from $465,000 in 2001 to $485,000 in 2002; Executive V.P. and CFO Marilyn O'Hara saw her 2001 salary jump to $250,000 (from $210,000); and Executive V.P. and COO Thomas Mills received a $10,000 raise to put his salary at $250,000.
Phoenix Group makes stab at one-stop-shop
DALLAS - The Phoenix Group, a Dallas-based provider of home health care, is making a stab at becoming a one-stop-shop for home health services, including DME. Last month, the company acquired Homecare Dimensions, which provides home health care, DME and pharmacy services to residents of central and south Texas. "The ability to offer 'one-stop-shopping' to doctors and administrators could increase our referrals as well as increase the amount of revenue earned per patient," said Ron Lusk, chairman of The Phoenix Group. The Phoenix Group employs more than 950 people in 36 offices providing home health services to more than 6,500 patients.