Lincare Holdings, Clearwater, Fla., recorded an increase of more than 13 percent in net income for the second quarter of fiscal 2000 ended June 30. The company posted net income of $28.2 million, or 52 cents a share, compared with $24.8 million, or 42 cents a share, for the same quarter in 1999.

Officials pointed out that Lincare purchased five companies during the second quarter, including United Medical, a Wynne, Ark.-based provider of home respiratory and other services and equipment. The acquired company has annual revenue of about $60 million from 42 locations in Alabama, Arkansas, Mississippi, Missouri, North Carolina, Oklahoma, Tennessee, Texas and Virginia.

John Byrnes, Lincare's chief executive officer, noted that the company had net cash from operating activities in the first half of 2000 of about $91 million, an increase of 27 percent over the comparable period last year. Cash earnings per share were $1.12 in the first half of 2000.

Byrnes also said that Lincare continued its strategy of "opening de novo locations in contiguous and new geographic markets, adding 17 new operating centers via internal expansion during the first half of 2000."

Option Care, Bannockburn, Ill., reported net income for the second quarter ended June 30 of a record $1.7 million, or 14 cents a share, an increase of 59.2 percent over the $1.1 million, or 9 cents a share, posted in the second quarter last year. Company officials said they expect to break more records by year's end as the company builds on five new contracts signed this quarter and taps into a new $15 million line of credit for future acquisitions.

"Looking forward, we bolstered our management team by filling three key positions and will continue to work our plan for growth - maintaining our strong core business, expanding through selective acquisitions and developing OptionMed - which should lead to a record 2000," said Raj Rai, president and chief operating officer.

In other news, the company's OptionNet subsidiary has reached an agreement with Aetna U.S. Healthcare to provide home IV therapy services to Aetna members throughout the United States. The value of the deal was not disclosed.

American HomePatient, Brentwood, Tenn., posted a net loss of $5.8 million, or 37 cents a share, for the fiscal 2000 second quarter ended June 30, compared with a net loss of $4.9 million, or 32 cents a share, for the same quarter last year.

Company officials blamed some of the financial troubles on bad debt expense that has grown during the first six months of this year, relative to the same period in 1999, primarily because of problems at the company's billing centers. Officials added that management is exploring ways to improve the performance of the centers.