Briefs: GMEA makes another buy
PHOENIX – Global Medical Equipment of America (GMEA) looked to its own backyard for its latest acquisition, acquiring American Southwest CPM & Medical Supply. Both companies are based in Phoenix. The deal will give GMEA a strong presence in that rehab market, stated Harold Halman, CEO of GMEA in a release. In addition to rehab, American Southwest offers a full line of mobility equipment, mattresses, lift chairs and orthotics. GMEA has made several buys over the last six months, most recently in January, when it acquired Allen Medical Supply in Opelousas, La.
Home Health Depot adds 2,500 patients
INDIANAPOLIS – Home Health Depot continues its growth spurt with the acquisition of RCS Management’s respiratory business, it announced April 24. The deal gives Home Health Depot about 2,500 new patients. Home Health Depot has seen its respiratory business grow over the past several years, due to investments in technology like self-fill oxygen systems and CPAP/Bi-level machines with wireless modems to track compliance.
S&P downgrades Apria
LAKE FOREST, Calif. – Standard & Poor downgraded Apria’s corporate credit rating from BB- to B+; issue-level ratings on A-1 notes from BB+ to BB; and ratings on A-1 notes from BB- to B. S&P also lowered its 2012 profit margin expectations and cash flow expectations, it announced April 25. S&P says its outlook for Apria is stable, stating that the company will continue to demonstrate revenue growth.
Alpine lauded in Utah
SALT LAKE CITY – Alpine Home Medical Equipment in May was named “Best of State” for the fourth year running. Alpine was recognized in the merchandising and consumer services category, medical equipment/supplies sub-category. The award is based on criteria that include financial achievements, customer satisfaction, quality products and membership affiliations. “It is a testament to our dedication as a quality medical equipment provider in Utah,” stated Jay Broadbent, president, in a press release.
Home Health International plans expansion
VERO BEACH, Fla. – Home Health International announced May 1 that it plans two acquisitions: Faya’s Medical Equipment in Hialeah; and Mount Auburn, a home health agency. Home Health International plans to cross market the services of the two companies. Faya’s provides respiratory and mobility equipment, and disposable supplies; Mount Auburn is Medicare certified. Home Health International’s services include skilled nursing, and physical, occupational and speech therapy. The deals were expected to close in May.
Ann Arbor, Mich.-based Mitchell Home Medical hosted an open house May 3-4 to raise money for “Pets for Vets.” The provider offered LaserTouchOne, a pain reduction treatment, at a discount and donated $25 from each treatment … The Accreditation Commission for Health Care accredited Cambridge, Neb.-based Tri Valley Home Medical Supply in April. Tri Valley Home Medical is a full-line HME provider located inside Cambridge Memorial Hospital …
Medical supply company owner guilty
MCALLEN, Texas – Jose Trevino, owner of Med-Quick Diagnostics, a medical supply company and diagnostic testing facility, pleaded guilty to one count of conspiracy to violate the federal anti-kickback statue. According to local news reports, from September 2009 through April 2011, Trevino OK’d thousands of dollars in illegal kickback payments to an area marketer in exchange for referrals of Medicare and Medicaid patients. Med-Quick then billed Medicare and Medicaid hundreds of thousands of dollars for those patients. Trevino faces up to five years in prison and a $250,000 fine when he is sentenced July 25.