Air Products Sells Infusion Business to Walgreens’ OptionCare

LEHIGH VALLEY, Pa. — Air Products announced last week the company has sold all of its U.S. home infusion therapy business and some elements of its respiratory and HME business to Walgreens subsidiary OptionCare Enterprises. Terms of the deal were not disclosed.

The transaction includes Air Products’ interests in the home infusion therapy business of American Homecare Supply (Atlanta and northern Georgia); Ultra Care and Dependicare (Chicago); Rx Pharmacy Services and Mosso’s Medical Supply Company (western Pennsylvania and Pittsburgh); Collins I.V. Care (Connecticut); and Air Products Healthcare Pharmacy (Lehigh Valley, Philadelphia and southern New Jersey).

Last July, Air Products said it planned to sell its U.S. Healthcare business, which had operations in 80 eastern U.S. locations. Based on a review of the market, the company said at the time, U.S. Healthcare no longer fit its business portfolio. (See Air Products Looks to Sell U.S. Healthcare, July 28, 2008.)

Since, Landauer Metropolitan has bought Air Products’ A&J Care locations in New York and its COPD Services locations in New Jersey. ATG Rehab has acquired the Air Products Seating and Mobility division.

According to a release, the latest transaction represents nearly 50 percent of the remaining Air Products Healthcare Group portfolio and includes 15 locations with 550 employees serving about 25,000 patients.

With its $850 million blockbuster purchase of OptionCare in 2007, Walgreens catapulted into the top eschelon of the nation’s home infusion players. In February this year, OptionCare acquired Tampa, Fla.-based CareMax Medical Resources, which offers home infusion, respiratory and DME in Colorado, Florida, Pennsylvania and Texas.