Rotech to explore possible sale?
By HME News Staff
Updated 1:57 PM CDT, Thu August 31, 2023
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 and CEO Tim Pigg told HME News at the time.
“(We’re) just timed out for now,” said President and CEO Tim Pigg in an email to HME News. “We have not updated but do plan to continue to update once the market changes.”
More recently, Rotech was awarded contracts to provide home medical equipment services to Humana’s Medicare Advantage HMO members.
Investment firms Capital Group, Silver Point Capital and Venor Capital Management control the company after helping it emerge out of bankruptcy in 2013.
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