Tag: Rotech
In brief: Rotech files IPO, Numotion buys SpinLife, NC goes with rate floor
July 9, 2021HME News Staff
ORLANDO, Fla. – Rotech Healthcare Holdings has filed for an initial public offering of up to $100 million and plans to list on the Nasdaq under the symbol ROTK.
The company had $534 million in sales for the 12 months ended March 31, 2021.
Rotech Healthcare offers a comprehensive range of home medical equipment and products and services across five core business lines: oxygen, ventilators, sleep therapy, wound care and DME. The company's payer mix includes commercial insurers,...
In brief: Rotech financing, Kubat merger, Merits president
December 31, 2020HME News Staff
ORLANDO, Fla. – Rotech Healthcare has obtained $425 million in new financing via an amended and reinstated credit agreement with a diverse group of lenders.
The provider used part of the proceeds to pay a $100 million dividend to its holding company and will use the remainder to support growth through strategic acquisitions.
“This new credit agreement provides Rotech with sufficient capital over the next five years to continue our growth strategies, as well as to provide a $100...
In brief: Rotech strengthens vent biz, Advanced sells home infusion biz
December 20, 2019HME News Staff
ORLANDO, Fla. - Rotech Healthcare has acquired the respiratory assets of Good Night Medical.The deal will benefit patients in Ohio, Texas, Georgia, Arkansas and North Carolina, where existing Rotech locations will work with Good Night Medical to coordinate service for those patients.“Good Night Medical is a great fit with Rotech,” said Tim Pigg, Rotech CEO. “Both companies have strong ventilator programs.”In October, Rotech obtained a $315 million credit agreement with lenders...
Rotech buys Boardman's respiratory biz
December 3, 2019HME News Staff
GIRARD, Ohio - Rotech Healthcare has bought the respiratory assets of Boardman Medical Supply, based here, expanding its presence in Ohio.
As part of the deal, some of Boardman Medical Supply's employees will go to work for Rotech, which will be renting part of the company's building in Girard, according to WKBN, a local news station.
"We are thrilled to welcome the Boardman Medical Supply team into the Rotech family and expand our presence in Northeast Ohio and the Mahoning Valley,” said Timothy...
In brief: CMS publishes final rule, Rotech taps $50M for acquisitions
November 1, 2019HME News Staff
WASHINGTON - CMS on Thursday afternoon released an ESRD final rule that implements a permanent home infusion therapy benefit in 2021 and establishes a methodology for establishing fee schedules for new DMEPOS items.CMS published the proposed rule in July. The final rule will be published Nov. 8.Home infusionPer the rule, CMS will group home infusion drugs into three payment categories, each with a unit of single payment, paid at amounts in accordance with specified infusion codes and units for such...
In brief: CMS releases 2019 fee schedule adjustments, study finds oxygen patients worse off
December 14, 2018HME News Staff
WASHINGTON - CMS's 2019 fee schedule provides a “modest” 2.5% CPI-U increase to single payment amounts for DME in former competitive bidding areas, according to AAHomecare.The fee schedule also provides a 2.5% increase to SPAs for diabetes supplies as part of the mail-order program.It provides a 2.3% increase to current rates for DME not included in the bid program.As previously determined, by a final rule, DME in rural/non-contiguous areas will be paid a 50/50 blended reimbursement rate.“While...
Rotech leverages MetTel to double patient outreach
December 14, 2018HME News Staff
NEW YORK and ORLANDO, Fla. - MetTel and Rotech Healthcare have deployed more than 700 customized Samsung tablets to field technicians, eliminating manual log sheets and generating increased scheduling efficiency and productivity, the two companies have announced. The techs also have the ability to be more flexible in adjusting their schedules based on new patient or delivery data. “Prior to our engagement with MetTel, we faced a number of challenges: paper-based processes, problematic legacy...
Rotech agrees to pay $9.68M
April 13, 2018HME News Staff
CLEARWATER, Fla. - Rotech Healthcare has agreed to pay $9.68 million for submitting false claims for portable oxygen contents to Medicare, according to an April 12 press release from the Department of Justice.As part of the settlement, Rotech admitted to billing portable oxygen contents to Medicare for beneficiaries who did not use or require them. Additionally, the company admitted to billing Medicare regardless of whether such contents were delivered, the release states.“This settlement serves...
In brief: AAHomecare increases pressure, Cardinal expands homecare presence
April 21, 2017Liz Beaulieu, Editor
WASHINGTON - AAHomecare is asking lawmakers for relief from a “double-dip” oxygen cut in the 2017 Medicare fee schedule for stationary oxygen.The move reinforces a letter that the association sent to previous leadership at CMS in December, asking the agency to recalculate its rates, which have dipped below competitive bidding rates in rural and non-bid areas.“We would like to reinforce these efforts by generating congressional interest and support on the issues, as well,”...
In brief: Drive explains sale, ResMed and F&P trade lawsuits
August 19, 2016HME News Staff
PORT WASHINGTON, N.Y. - Drive Medical has sent a letter to its customers in response to reports that private equity firm Clayton, Dubilier & Rice is close to buying the company.Drive Medical, which currently calls private equity firm Ferrer, Freeman & Co. a minority stockholder, seeks additional equity capital to continue its growth strategy, the Aug. 12 letter states.“Given the company's position within the healthcare industry, its prospects, multiple channels of growth and acquisition strategy,...