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Top Companies: Public
| Rank | Company Location Top officer |
Net income (in millions, last available fiscal year) |
# of branches # of branches accredited |
Employees FT/PT |
Stock ticker symbol (Exchange) |
Web site URL |
|---|---|---|---|---|---|---|
| 1 | Lincare Holdings Clearwater, Fla. John Byrnes |
$116.9 fiscal 2000 ended Dec. 31, 2000 |
511 branches | 5,500 FT/PT | LNCR (NASDAQ) |
www.lincare.com |
| During fiscal year 2000, Lincare worked to increase its market share within the company's existing geographical markets, through internal growth and selective acquisitions. To this end, Lincare acquired certain operating assets of 15 local and regional competitors, adding 48 new operating centers in the process. Lincare's net 2000 revenue increased 20.8 percent, compared to the company's 1999 net revenue. Additionally, Lincare's net income increased 16.1 percent in 2000. So far, Lincare's fiscal year 2001 numbers look good. For the quarter ended September 30, 2001, revenue increased 11 percent to $206.8 million, compared to a third quarter 2000 revenue of $186 million. Additionally, the company's third quarter 2001 net operating income increased 24 percent to $37.7 million, compared to $29.7 million during the same period in 2000. Nine-month revenue for the period ended September 30, 2001 increased 16 percent over 2000's comparable revenue, from $513.1 million to $596.8 million. John Byrnes, Lincare's chief executive officer, attributes this success to internal development and acquisitions, made possible by a strong operating cash flow. “During the third quarter of 2001,” Byrnes says, “our core respiratory product lines grew 18 percent while we successfully eliminated non-core product lines from acquired businesses.” |
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| 2 | Apria Healthcare Costa Mesa, Calif. Philip Carter |
$57 fiscal 2000 ended Dec. 31, 2000 |
360 branches 360 accredited |
7,988 FT 1,184 PT |
AHG (NYSE) |
www.apria.com |
| Volume increases, new regional and national contracts, acquisitions and price increases contributed to Apria's $1 billion fiscal year 2000 revenue, which rose six percent from the company's 1999 revenue of $940 million. Apria's respiratory therapy service line revenue increased 9.5 percent during 2000, compared to 1999's revenue. Additionally, the company's infusion therapy and home medical equipment revenues increased 8.4 percent and 1.2 percent, respectively, compared to 1999 revenues. Fiscal year 2001 has been good for Apria. On September 30, the company reported a net third quarter 2001 income of $19.1 million, compared to a net third quarter 2000 income of $14.8 million. Revenue for the same period in 2001 increased 12 percent, compared to third quarter 2000 revenue. |
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| 3 | Pediatric Services of America Norcross, Ga. Joseph Sansone |
$28.6 fiscal 2000 ended Sept. 30, 2000 |
100 branches | 913 FT 278 PT |
PSAI (NASDAQ) |
www.psakids.com |
| During fiscal year 2000, Pediatric Services focused on its core operations: the pediatric home health care and adult respiratory businesses, according to the company's 2000 annual report. Due in part to the closure of select pediatric health care locations and the sale of the company's medical staffing business, Pediatric Services' net 2000 revenue decreased 13 percent to $186 million, from a net 1999 revenue of $214.4 million. The company acquired no new businesses during 2000. So far during fiscal year 2001, Pediatric Services' sales have been flat, decreasing 2 percent during the first nine months to $137.5 million, down from $140.9 million during the same period in 2000. |
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| 4. | Walgreens Health Initiatives Deerfield, Ill. David Bernauer, Walgreen Gregory Wasson, WHI |
$23.5 health initiatives $886 company-wide fiscal 2001 ended Aug. 31, 2001 |
21 WHI branches 2,821 branches total |
677 FT/PT WHI 116,000 FT/PT total |
WAG (NYSE) |
www.whphi.com |
| For Walgreens Health Initiatives' (WHI) parent company Walgreen, fiscal year 2001 sales rose 16 percent to $2.5 billion, compared to fiscal year 2000 sales of $2.1 billion. Additionally, Walgreen's 2001 net earnings increased 14 percent over the company's 2000 net earnings. Currently, prescription drugs account for more than half of Walgreen sales, and general merchandise, over-the-counter medications, cosmetics and groceries account for the rest, according to market analyst web site Hoovers.com. On the home health front, Walgreens Health Initiatives worked to increase its market presence during 2000, acquiring companies in Florida, Illinois, Arizona, Oregon and Wisconsin. “Our goal is to become a nationally recognized provider of home care services,” said Ron Allen, Walgreens Advance Care vice president. The company also entered the sleep market during fiscal year 2000, offering sleep apnea equipment and monitoring devices through its home care branches in Arizona, Florida, Illinois, Indiana, New Mexico and Wisconsin. “Walgreen proffers an old-fashioned tonic for fiscal fitness: quality over quantity and homespun growth rather than growth through acquisition. It works,” Hoovers says. |
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| 5 | Matria Healthcare Marietta, Ga. Parker Petit |
$13.7 fiscal 2000 ended Dec. 31, 2000 |
52 branches 42 accredited |
899 FT 965 PT |
MATR (NASDAQ) |
www.matria.com |
| While Matria's women's health segment operated only in the United States, the company's diabetes disease management business derived 44 percent of its fiscal year 2000 revenue from its German operations. Likewise, the company's medical devices business derived approximately 24 percent of its fiscal year 2000 revenue from sales outside the United States. Because of Matria's extensive foreign interests, deteriorating foreign economic conditions and currency exchange rate fluctuations negatively affected the company's fiscal year 2000 earnings, according to the company's 2000 annual report. Revenue decreased 2.6 percent during fiscal year 2000, compared to fiscal 1999 revenue. However, despite the current sluggish U.S. economy, Matria's fiscal year 2001 numbers look good. Revenue for the first nine months ended Sept. 30, 2001 increased 15 percent to $194 million, compared to $169.4 million for the same period in 2000. Additionally, the company's net income for the first nine months of 2001 was $6.1 million, an increase of 15.25 percent over the same period in 2000. |
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| 6 | Praxair Danbury, Conn. Dennis Reilley Sally Savoia, health care |
home care segment numbers not available, ranking estimated $363 company-wide fiscal 2000 ended Dec. 31, 2000 |
838 branches total | 9,479 FT/PT U.S. 23,430 FT/PT total |
PX (NYSE) |
www.praxair.com |
| Praxair, the largest industrial gases company in North and South America, recently has increased its home oxygen focus in the United States by purchasing three prominent U.S. HME providers: Salt Lake City-based Interwest Home Medical, Louisville, Ky.-based Health Care Partners, and Cuyahoga Falls, Ohio-based Falls Medical Services. Generating $400 million in revenue, the company's health care divisions accounted for 8 percent of worldwide sales in fiscal year 2000, says Sally Savoia, Praxair's health care vice president. And while third quarter 2001 earnings were flat, Dennis Reilley, Praxair's chairman and chief executive officer, says that the company's recent home oxygen acquisitions have performed well. Additionally, the company's total fiscal year 2000 revenue of $5.04 billion increased 9 percent, compared to fiscal year 1999 revenue. Excluding special charges, Praxair's fiscal year 2000 net income also increased 9 percent, compared to fiscal year 1999 net income. The company spent $290 million in acquisitions during fiscal year 2000, compared to $154 million in fiscal year 1999. |
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| 7 | Option Care Bannockburn, Ill. John Kapoor |
$7.4 fiscal 2000 ended Dec. 31, 2000 |
130 branches 117 accredited |
732 FT 451 PT |
OPTN (NASDAQ) |
www.optioncare.com |
| During fiscal year 2000, Option Care acquired four companies and reported a 63-percent increase in net income. Revenue for the infusion therapy/specialty pharmaceutical company increased 17.3 percent during the same period, due in large part to same-store sales growth, according to Option Care. Focusing on its core businesses, Option Care has acquired seven companies so far during fiscal year 2001, establishing a new presence in Ohio, California, Missouri, Maryland, Illinois and New Jersey. The company's third quarter 2001 net income grew 24 percent over its third quarter 2000 earnings, and same-store growth accounted for 21 percent of third quarter revenue increases, says Bruce Kutinsky, Option Care's chief operating officer. Option Care's acquisition strategy is twofold: the company acquires independent infusion pharmacies in new markets and consolidates independent pharmacies in existing markets, Kutinsky says. |
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| 8 | National Home Health Care Scarsdale, N.Y. Steven Fialkow |
$4.1 fiscal 2000 ended July 31, 2000 |
19 branches 19 accredited |
2,800 FT/PT | NHHC (NASDAQ) |
www.nhhc.net |
| Revenue for National Home Health Care has grown consistently since early in fiscal year 2000, according to Steven Fialkow NHHC compresident. Recently, the company reported fiscal year 2001 results, which include a net revenue increase of 24 percent and a net income increase of 60 percent, compared to fiscal year 2000 results. Fialkow attributes this success to National Home Health Care's expansion strategy and to the company's ability to integrate new acquisitions. In April 2000, National Home Health Care acquired certain assets of Connecticut-based U.S. HomeCare; and in August 2000, the company acquired certain assets of Health Force, a New Jersey-based skilled nursing business. To demonstrate confidence in National Home Health Care's long-term prospects, the company's board of directors has extended the stock repurchase program, according to a recent press release. |
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