The Linde Group continues to invest in the growing homecare market through a recently announced agreement to acquire US company American HomePatient, Inc., based in Brentwood, Tennessee.
The deal is undertaken via subsidiary Lincare Holdings, itself acquired by Linde in 2012.
The acquisition will expand Lincare’s customer base to significantly more than 1,000,000 patients in the US. American HomePatient specialises in respiratory therapies to service the needs of patients with COPD (Chronic Obstructive Pulmonary Disease) and OSA (Obstructive Sleep Apnoea).
Completion of the acquisition of American HomePatient is subject to regulatory approval and other customary closing conditions, and is expected to close in first quarter 2016.
In the previous financial year, American HomePatient generated revenue of around €260m ($280m). The company employs approximately 2,700 people in 220 branches across 38 states and is mainly active in the eastern US.
“This acquisition will strengthen our growth in the US and further improve our efficiency,” explained Dr. Wolfgang Büchele, CEO of Linde AG. “It also reinforces our position as global leader in this area of healthcare services,” continued Büchele. “Now we are striving towards the further internationalisation of our healthcare business.”
Lincare CEO Kristen Hoefer added, “The acquisition of American HomePatient will further our strategic growth as we strive to set the standard of excellence for respiratory care delivered in the home.”
“Our dedication to quality care, professionalism and responsiveness has helped us achieve consistent growth and success and we look forward to this opportunity to work with the employees and customers of American HomePatient.”