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Tag: rotech healthcare


Providers

Rotech files IPO

July 7, 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,...

Home Medical Equipment, rotech healthcare


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Providers

Rotech obtains financing to continue growth 

December 29, 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...

financing, rotech healthcare


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Providers

Rotech strengthens vent business

December 18, 2019HME News Staff

ORLANDO, Fla. - Rotech Healthcare has acquired certain 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...

Good Night Medical, Home Respiratory Equipment, rotech healthcare


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Providers

Rotech taps $50M for acquisitions

October 31, 2019HME News Staff

ORLANDO, Fla. - Rotech Healthcare has obtained a $315 million credit agreement to, in part, fuel strategic acquisitions.The agreement, with lenders SunTrust Bank, SunTrust Robinson Humphrey, Regions Bank and Fifth Third Bank, includes a $250 million five-year term loan, a $15 million revolving credit facility and a $50 million acquisition credit facility.“I am pleased with the completed refinancing,” said CEO Tim Pigg. “This agreement provides us with sufficient capital over the...

Home Medical Equipment, rotech healthcare


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Providers

Rotech agrees to pay $9.68M, signs $185M credit agreement

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...

rotech healthcare, Tim Pigg


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Providers

Rotech signs $185M credit agreement

April 12, 2018HME News Staff

ORLANDO, Fla. - Rotech Healthcare has obtained a $185 million credit facility to “continue (its) growth strategies.”The five-year agreement with SunTrust Bank, SunTrust Robinson Humphrey, Inc., Regions Bank and Fifth Third Bank comprises a $160 million loan and a $25 million revolving line of credit, according to a press release.“I am pleased with the completed refinancing and want to thank SunTrust, Regions and Fifth Third for leading this effort,” said Tim Pigg, CEO of Rotech....

Home Medical Equipment, rotech healthcare, Tim Pigg


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Providers

M&A: Nationals turn up the heat

March 23, 2018Theresa Flaherty, Managing Editor

YARMOUTH, Maine - While it's not unusual for national providers to send query letters to providers that may be looking to sell, their tone this time around feels decidedly different, some of those providers say.A recent letter from Rotech Healthcare details the cuts in Medicare reimbursement for oxygen and CPAP, and notes that Medicaid rates are expected to decline to Medicare rates and that audits are rejecting valid claims."These drastic financial impacts have caused many DME companies to consider...

Aeroflow Healthcare, rotech healthcare, Tim Pigg


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Short takes: BioScrip, Rotech

January 10, 2018HME News Staff

Denver-based BioScrip can now dispense and administer HEMLIBRA, a treatment for routine prophylaxis approved by the U.S. Food and Drug Administration. The drug helps to prevent or reduce the frequency of bleeding episodes in adult and pediatric patients with hemophilia A with factor VIII inhibitors. “BioScrip continues to expand our therapy offering to better care for the patients that we support,” said Robert Roose, senior vice president and chief procurement officer. “Receiving...

BioScrip, rotech healthcare


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Also Noted

Rotech employee sentenced in identify theft

September 7, 2017HME News Staff

PLANT CITY, Fla. - Sharmekia Young, a former employee of Rotech Healthcare, was sentenced to three years in prison for conspiracy and aggravated identity theft, according to the U.S. Attorney's Office for the Middle District of Florida in Tampa and as reported in The Ledger. Young worked at Rotech's Lakeland billing center, where she allegedly used her access to the provider's secure databases to obtain the personal information of 957 people. The information was sold and used to create fake credit...

rotech healthcare


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Rotech Healthcare buys Griffin Home Health Care

April 19, 2017HME News Staff

ORLANDO, Fla. - Rotech Healthcare has bought Griffin Home Health Care, which has locations in Charlotte, Concord and Gastonia, N.C. Bill Griffin opened Griffin Home Health Care in 1983. “Griffin Home Health Care has been a quality provider for years,” said Tim Pigg, CEO of Rotech, in a press release. “They have a broad range of services and we are pleased to be able to bring them into the Rotech family of locations.” Rotech currently operates in 18 markets in North Carolina....

M&A, rotech healthcare


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