LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF ADVANCE HOME HEALTH SERVICES, INC.
LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF ADVANCE HOME HEALTH SERVICES, INC. CLEARWATER, Fla., Oct. 9 /PRNewswire/ -- Lincare Holdings Inc. (NASDAQ: LNCR) today announced that it has completed the acquisition of Advance Home Health Services, Inc., a provider of home respiratory therapy services in Cincinnati, with annual sales of approximately $3 million. "This acquisition is the sixth completed by Lincare since its initial public offering in March, 1992," said James T. Kelly, Lincare's CEO. "Our acquisition program continues to be successful and complements our strong internal growth." Lincare's five previous acquisitions in 1992 had a combined total of approximately $5 million of revenue on an annual basis. Lincare's revenues for the six months ended June 30, 1992 were $55.3 million, an increase of 36 percent over revenues of $40.8 million for the comparable period in 1991. Income before extraordinary item for the first six months was $6.2 million, or $0.53 per share, and compares with net income of $.8 million, or $0.10 per share, for the first six months of 1991. Net income after extraordinary item for the six months ended June 30, 1992 was $5.2 million or $0.44 per share. Lincare, headquartered in Clearwater, is one of the nation's largest providers of oxygen and other respiratory therapy services to patients in the home, providing services and equipment to over 30,000 customers in 27 states through 115 operating centers. -0- 10/9/92 /CONTACT: Howard R. Deutsch, executive vice president of Lincare Holdings Inc., 813-530-7700/ (LNCR) CO: Lincare Holdings Inc. ST: Florida IN: HEA SU: TNM
SH -- NY036 -- 8328 10/09/92 11:51 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 9, 1992|
|Previous Article:||GCC TECHNOLOGIES ENTERS COLOR PRINTER MARKET WITH DYE SUBLIMATION PRINTER|
|Next Article:||SEPTA NAMES CHIEF LIGHT RAIL OFFICER TO MANAGE TROLLEY ROUTES, PLAN FUTURE; AUTHORITY'S BOARD FORMS FIRST-EVER LIGHT RAIL COMMITTEE|