Linde restructures Lincare as it seeks to improve performance
By Theresa Flaherty
Updated 1:19 PM CDT, Fri October 30, 2026
CLEARWATER, Fla. – Linde will have Lincare report directly to Matthew White, executive vice president and CFO, as officials continue to reassess the future of the business.
Linde will also move Lincare, which officials say has struggled with persistent underperformance in recent years, from the Americas segment to the Global Other segment.
“This will provide investors with greater insight into the underlying performance of our regional Gases businesses, while we continue to restructure Lincare and evaluate strategic alternatives,” said Sanjiv Lamba, CEO and chairman of the board during a recent call to discuss the company’s third-quarter earnings.
Linde’s overall health care revenue increased just 2% during the quarter, but growth was in the mid-single digits when excluding Lincare, Lamba noted.
Despite its profitability challenges, Lincare continues to generate positive cash flow, company executives said. While Linde has not ruled out a potential sale of the business, management said its current priority is improving operations and performance.
“We have to run it better, while running it safely and compliantly,” White said.
Officials have cited labor cost inflation and reimbursement pressures as some of the most significant challenges facing Lincare. White also acknowledged that broader conditions in the health care sector remain challenging.
“Our goal is to improve it,” he said. “Hopefully, that not only eliminates some of the headwinds we’re seeing today but also opens up other options for the business down the road.”
Linde acquired Lincare for $4.6 billion in 2012.
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