Tag: Tim Pigg
Rotech names new CEO
February 5, 2024HME News Staff
ORLANDO, Fla. – Rotech Healthcare has announced that Tim Pigg has transitioned from CEO to executive chairman of the board.
Pigg, who has served as CEO for the past 10 years and in various other leadership positions at the company for a total of 40 years, will be succeeded by Robin Menchen, who has been promoted from president and COO to president and CEO.
“I have worked closely with Robin for over two decades and she has consistently demonstrated exceptional leadership,...
Rotech to explore possible sale?
August 31, 2023HME News Staff
ORLANDO, Fla. – Rotech Healthcare is said to be exploring a possible sale, according to online news reports.
Rotech is said to have tapped investment bank Jefferies Financial Group to advise on its sale process, which could value the company at $1.5B.
In July 2021, the company filed for an initial public offering of up to $100 million in July 2021, with plans to list on the Nasdaq under the symbol ROTK, but paused those plans in 2022, to await more favorable market conditions, President...
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 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....
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...
In brief: Rotech, Aerocare strike again
January 23, 2015HME News Staff
ORLANDO, Fla. - Rotech has made its second acquisition in as many months: the respiratory equipment assets of a company in Natchitoches, La. The name of the company was not disclosed. “This purchase is another step in Rotech's aggressive expansion plan,” stated Tim Pigg, CEO, in a press release. “We will be continuing to further leverage and expand our presence in existing and new markets with the support of our long-term oriented investors.” In December, Rotech acquired...
Deal watch: AeroCare, Rotech
January 21, 2015HME News Staff
ORLANDO, Fla. - AeroCare has acquired Plant City, Fla.-based Matrix Medical, a provider of home medical equipment, supplies and respiratory equipment with nine locations throughout Florida.Terms of the deal were not disclosed."We're looking forward to working with them to pursue opportunities and to care for our patients," AeroCare founder and CEO Steve Griggs said in a local news article.In late December, a planned merger between AeroCare and MergeWorthRx fell through.Rotech strikes againORLANDO,...
Rotech ready to expand
December 19, 2014Theresa Flaherty, Managing Editor
ORLANDO, Fla. - Rotech Healthcare last week announced its first acquisition in several years and the company has indicated that's only the beginning.
“Rotech is looking to leverage its platform to expand its presence in existing and new markets,” said CEO Tim Pigg in a release. “Unlike many of our smaller distressed competitors, we have the staying power to ride the current market difficulties and capital available to invest in our core products.”
Rotech acquired...