From the HME Company Business Wire

Lincare’s Q3 Revenues Up

CLEARWATER, Fla. — Last week Lincare Holdings reported a
6.6 percent revenue gain over last year’s third quarter, posting a
$418.7 million tally for the quarter ended Sept. 30, 2010. Company
officials attribute the boost to 10 percent internal and
acquisition growth, which offset an estimated 3.4 percent negative
impact from $13.1 million of Medicare payment changes during the
third quarter of 2010.

Net income for the quarter was $45.5 million, a 26.2 percent
increase over net income of $36 million for the third quarter of
2009.

Stated Lincare CEO John Byrnes in a release, “We continue to
focus on those activities that we believe will drive the long-term
success of our company — an emphasis on organic revenue
growth driven by our market leading positions in our core
respiratory service lines and expansion of our product offerings
across our national network of local distribution and sales
centers, accompanied by disciplined cost containment and operating
efficiencies that maximize our operating cash flows.” 

Cumulative revenues for the nine months were $1.247 billion, an
8.9 percent increase over net revenues of $1.145 billion for the
comparable period in 2009.

“While we generated exceptionally strong operating cash flows in
the first nine months of 2010, we increased our allowance for
uncollectible accounts in the third quarter,” added Byrnes. “The
additional reserves reflect the increasing number of customers who
are finding it difficult to pay their out of pocket charges due to
loss of insurance coverage or reductions in their investment or
employment income.”

Lincare generated $259.2 million of cash from operating
activities during the first nine months of 2010 and invested $80.3
million in net capital expenditures, and $11.4 million in business
acquisitions. As of the end of September, total long-term
obligations, including current installments, were $496 million, and
cash and investments were $197.1 million.

Company officials acknowledged that fourth quarter average sales
price (ASP) data for inhalation drugs published by CMS will result
in a reduction in net revenues of about $3 million per quarter.
That’s in addition to the $7.1 million impact of ASP-based payment
reductions for Q3.

Great Lakes Home Health Expands

JACKSON, Mich. — Great Lakes Home Health and Hospice has
acquired In-House Hospice in an effort to boost its hospice and
palliative care capabilities in Michigan and Ohio. Great Lakes
already has a sizable Midwest operation serving more than 4,500
patients in the home health, hospice, HME and private duty care
arenas.

Exact terms of the transaction were not disclosed. The company
has more than 600 employees in nine locations across Michigan and
Indiana.

Philips Respironics Hosts Two Webinars

MURRYSVILLE, Pa. — With oxygen and sleep therapy
challenges mounting in the home care world, officials at Philips
Respironics will offer two “Know How” webinars. The seminars will
offer business opportunity calculators to help providers assess the
potential of oxygen-generating systems and OSA supply replacement
programs.

The webinars are free and will last approximately one hour. No
special software is required. For information, go to http://Respironics.01o.com/ajtk/servlet/JJ?H=1fv51u&R=871725264.

Valiant Acquires Atlantic Medical Supply

CORAL SPRINGS, Fla. — Valiant Health Care announced it
will acquire Miami-based Atlantic Medical Supply in a common stock
deal to expand its retail reach and become a “one stop provider” of
home health care. Atlantic has been in business since 1993 serving
the South Florida market.

According to a Valiant press release, both parties intend to
negotiate the stock purchase agreement and close the transaction no
later than six months from the signing of the term sheet. Specific
terms of the purchase will be provided when the stock purchase
agreement is completed and filed with the SEC.

Valiant’s Accessible Home Health Care division includes 96
franchise units and one company-owned unit in 24 states, as well as
in India and Kenya.

Via Christi Adds Another HME Location

WICHITA, Kan. — Another HME location for Via Christi
Health makes a half-dozen for the Kansas-based hospital system. The
new 600-sq.-ft. retail site sits next to Wichita Hospital, with
both occupying the same street.

According to hospital officials, products and services include
oxygen, home ventilation and sleep therapy management services. Via
Christi Home Medical and Via Christi Home Health have served
Wichita and surrounding communities for more than two decades.