Tag: Rotech Healthcare
In brief: Owens & Minor’s FTC request, CVS Health’s exit, Medically Home’s leadership
October 16, 2024HME News Staff
RICHMOND, Va. – Owens & Minor and Rotech Healthcare on Oct. 11 each received a request for additional information and documentary materials from the Federal Trade Commission in connection with its review of the merger of the two companies.
The effect of a second request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after each of the companies has substantially complied with the second request issued to...
Owens & Minor, Rotech receive second request from FTC
October 15, 2024HME News Staff
RICHMOND, Va. – Owens & Minor and Rotech Healthcare on Oct. 11 each received a request for additional information and documentary materials from the Federal Trade Commission in connection with its review of the merger of the two companies.
The effect of a second request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after each of the companies has substantially complied with the second request issued to...
Analysts reflect on OMI deal, market conditions
September 13, 2024Theresa Flaherty, Managing Editor
Owens & Minor’s acquisition: Owens & Minor (OMI) acquired Rotech Healthcare for $1.36 billion, aiming to secure large payer contracts for value-based care and a capitated risk model.
Market impact: The acquisition, along with favorable conditions like improving interest rates and demand, could stimulate further M&A activity in the HME industry.
Quipt Home Medical’s strategy: Following the OMI-Rotech deal, Quipt Home Medical is focusing on acquiring companies...
Owens & Minor: ‘We’re only getting started’
August 6, 2024Theresa Flaherty, Managing Editor
RICHMOND, Va. – Owens & Minor’s Patient Direct segment is experiencing “considerable tailwinds” driven by the large numbers of U.S. adults suffering from chronic health conditions, company execs say.
In particular, the company continues to see growth in diabetes and sleep therapy, despite the “groundswell of support” for GLP-1 weight loss drugs, CEO Edward Pesicka told investors on a recent call to discuss the company’s second quarter 2024 earnings.
“We’re...
Owens & Minor to buy Rotech
July 23, 2024HME News Staff
RICHMOND, Va. - Owens & Minor has entered into a definitive agreement to buy Rotech Healthcare for $1.36 billion in cash.
Given the anticipated tax benefits from the transaction of about $40 million, the net purchase price is about $1.32 billion, representing 6.3x multiple of LTM EBITDA, excluding synergies.
"Rotech squarely fits into our existing Patient Direct segment and directly aligns with the strategy we outlined last December during our Investor Day, supporting our expansion...
In brief: Rotech’s notification, DOJ’s fraud record, VGM’s CISO
February 28, 2024HME News Staff
ORLANDO, Fla. – Rotech Healthcare on Feb. 23 provided notification of a recent privacy incident experienced by Philips Respironics that may have impacted certain information of patients who purchased Philips sleep and respiratory devices from Rotech.
“Although Rotech is unaware of any misuse of information resulting from this event, we are providing this notice in an abundance of caution,” the company stated on its website.
When reached for comment, a spokesman...
Rotech provides notification of Philips breach
February 26, 2024HME News Staff
ORLANDO, Fla. – Rotech Healthcare on Feb. 23 provided notification of a recent privacy incident experienced by Philips Respironics that may have impacted certain information of patients who purchased Philips sleep and respiratory devices from Rotech.
“Although Rotech is unaware of any misuse of information resulting from this event, we are providing this notice in an abundance of caution,” the company stated on its website.
When reached for comment, a spokesman...
In brief: React Health and Rotech CEOs, Philips medical device reports
February 7, 2024HME News Staff
SARASOTA, Fla. – React Health has appointed Bill Shoop, most recently vice president and general manager of ResMed North America, as its CEO.
“I am extremely excited about the opportunity to join this experienced and talented team,” he said. “I believe React Health is very well positioned to help the industry and continue to advance our mission of delivering innovative solutions that positively impact patients’ lives and the people that care for them.”
Shoop,...
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,...
In brief: Rotech’s possible sale, Lincare’s TRO, Medicare’s $736K wheelchair
September 1, 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,...