Printer Friendly

LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF AMERICAN MEDCO, LTD.

 CLEARWATER, Fla., Dec. 2 ~PRNewswire~ -- Lincare Holdings Inc. (NASDAQ: LNCR) today announced that it has completed the acquisition of American Medco, Ltd., a provider of home respiratory therapy services in Denver and Boulder, Colorado, with annual sales in excess of $4.5 million.
 The acquisition is the eighth completed by Lincare since its initial public offering in March, 1992. The combined annual sales revenue of the businesses acquired by Lincare in 1992 are in excess of $12 million.
 "We are especially pleased to have made the American Medco acquisition as it complements our existing Denver operations and establishes a significant presence for Lincare in the Boulder market," said James T. Kelly, Lincare's CEO.
 Lincare's revenues for the nine months ended Sept. 30, 1992 were $85.2 million, an increase of 34 percent over evenues of $63.6 million for the comparable period in 1991. Income before extraordinary item for the first nine months was $10.9 million, or $0.88 per share, and compares with net income of $1.8 million, or $0.21 per share, for the first nine months of 1991. Net income after extraordinary item for the nine months ended Sept. 30, 1992 was $9.9 million or $0.80 per share.
 Lincare, headquartered in Clearwater, Florida, 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 116 operating centers.
 -0- 12~2~92
 ~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 -- NY008 -- 2775 12~02~92 09:28 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 30, 1992
Words:281
Previous Article:PROPERTY TRUST OF AMERICA ANNOUNCES INCREASED DIVIDEND FOR 1993
Next Article:UNITED STATES TOBACCO COMPANY SELLS DISTRIBUTION RIGHTS FOR ZIG-ZAG CIGARETTE PAPERS AND RELATED PRODUCTS
Topics:


Related Articles
LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF ADVANCE HOME HEALTH SERVICES, INC.
LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF BARCLAYS OXYGEN HOMECARE
LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF MERIDIAN MEDICAL
LINCARE HOLDINGS INC. ANNOUNCES ACQUISITION OF HOME OXYGEN PLUS EQUIPMENT, INC.
LINCARE STOCKHOLDERS MEETING DELAYED
CORAM AND LINCARE CANCEL MERGER PLANS, ANNOUNCE COOPERATIVE SERVICES AGREEMENT
LINCARE HOLDINGS INC. COMPLETES FIVE ACQUISITIONS
Lincare Holdings Inc. Completes Three Acquisitions
Lincare Holdings Inc. Expands Operations in the Southeastern United States with Acquisition of United Medical Inc.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters