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HealthCor Sells 55 HME Locations to Lincare Holdings
Dallas Several months after hanging out a "For Sale" sign, HealthCor Holdings found a buyer in July for more than half of its business operations. Lincare Holdings, Clearwater, Fla., has purchased HealthCor's 55 home medical equipment locations in Texas, Arizona, Oklahoma, New Mexico, Arkansas, Missouri and Kansas. A Denver location is still for sale.
The sold offices represented 53 percent of HealthCor's business, which also includes home nursing and infusion, said Nancy Hetherington, company spokeswoman.
In other news, HealthCor sold its Beaumont, Texas, home health nursing location to ComTech Consolidation Group, Houston, in late June. The location had revenue of about $2 million in 1998.
"We are pleased to announce this acquisition and further strengthen our presence in the Texas health care industry," said Winfred Fields, ComTech chairman and chief executive officer. "We are continuing to evaluate our overall marketplace and identify potential acquisition targets."
HealthCor also sold its Texas Community Care Service offices to Auxi Health, Franklin, Tenn., for about $2 million. HealthCor officials said the company has decided to eliminate its nursing business in favor of respiratory therapy, home medical equipment and infusion services.
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