Protech makes pair of buys
By HME News Staff
Updated Wed December 19, 2018
CINCINNATI - Protech Home Medical has acquired Riverside Medical and Central Oxygen, it announced Dec. 17. Riverside Medical, which focuses on home respiratory services in Tennessee and northern Mississippi, is Protech's first entry into Tennessee. Central Oxygen, which also focuses on home respiratory, is located in Indiana. “I am pleased to continue to deliver on the strategy that we have articulated to the market place of rolling in strategic and well-priced assets when they make sense for the company,” said Greg Crawford, chairman and CEO of Protech, in a press release. Under the terms of the definitive purchase agreements, Protech acquired Riverside Medical and Central Oxygen for total consideration of about $871,000, which includes assumed debt and about 1.1 million common shares issued at a deemed price of $0.14 per share. The securities issued are subject to a four-month hold period.
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