Acquisition of home health care company.ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 2, 1995--Effective Oct. 1, 1995, RoTech Medical Corp. (NASDAQ/NMS:ROTC) completed the acquisition of the net assets of Revco Home Health Care Centers Inc., also known as Hook's Home Health Care, the wholly owned home care subsidiary of Revco D.S. Inc. RoTech paid $10.4 million cash for the net assets of Hook's Home Health Care (Hook's), which will continue to operate under the existing name. The transaction included the assumption of Hook's store leases by RoTech. Current management will remain to oversee area operations. Hook's had approximately $26 million in annual revenue with approximately 73% of its revenue coming from durable medical equipment rentals and sales, 15% from custom rehabilitation products and services and 12% from respiratory products and services. Hook's operates 32 locations in Indiana, Ohio, Kentucky, Illinois and Tennessee. With this acquisition, RoTech now operates 240 locations in 24 states and 20 primary care physician practices in two states. RoTech Medical Corp., headquartered in Orlando, provides home respiratory care, home infusion therapy and other pharmacy-related services and other medical services and equipment to patients referred to the company principally by primary care physicians in smaller cities and rural areas. CONTACT: RoTech Medical Corp., Orlando Rebecca R. Irish, 407/841-2115 |
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