American HomePatient acquires Krieger Medical.BRENTWOOD, Tenn.--(BUSINESS WIRE)--March 19, 1997-- Company expands presence in Texas with acquisition in Houston Edward K. Wissing, president and chief executive officer of American HomePatient Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AHOM), today announced the acquisition of Krieger Medical Inc., a home medical equipment and respiratory company based in Houston. Krieger has annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of approximately $3.0 million. Krieger Medical was founded in Houston in 1975 by John Krieger and has been family owned and operated for over 20 years. The company provides oxygen therapy, respiratory therapy respiratory therapy Medical profession concerned with assisting the respiratory function of individuals who have severe lung disorders. Practices include suctioning to clear secretions from the airway, use of aerosol mists (sometimes medicated) or gases to ease breathing, , physical therapy products and home medical equipment for patients with home health care needs throughout southeast Texas Southeast Texas is a subregion of East Texas located in the southeast corner of the U.S. state of Texas. The subregion is geographically centered around the Houston–Sugar Land–Baytown and Beaumont–Port Arthur metropolitan areas. . The Krieger family will remain active in the operation of the company with Richard and James, former owners, joining American HomePatient as general managers. "Krieger Medical is a very good match with American HomePatient," said Wissing. "They pride themselves on providing outstanding customer service, much like we do, and have maintained a 96 percent customer satisfaction rating for the past several years. Krieger also has several strong and significant contract agreements in place in the Houston market. We intend to continue to provide those important customers with the same commitment to service excellence to which they are accustomed with Krieger. Moreover, we will investigate additional services and value-added programs to further enhance the relationships within the medical community." American HomePatient is one of the nation's largest home health care companies with 302 centers in 32 states. The company's primary product and service offerings include respiratory services, infusion therapy, parenteral parenteral /pa·ren·ter·al/ (pah-ren´ter-al) not through the alimentary canal, but rather by injection through some other route, as subcutaneous, intramuscular, etc. par·en·ter·al adj. 1. and enteral nutrition Enteral nutrition Nourishment given through a tube or stoma directly into the small intestine, thus bypassing the upper digestive tract. Mentioned in: Electrolyte Supplements, Enterostomy, Necrotizing Enterocolitis , and medical equipment and supplies provided to patients cost-effectively in the home or alternate setting. American HomePatient's common stock is traded on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (National Market) under the symbol AHOM. CONTACT: American HomePatient, Brentwood Edward K. Wissing or Kathey S. Palmer, 615/221-8884 |
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