MOUNT VERNON, N.Y. — Landauer Metropolitan Inc. has acquired another three divisions from Air Products Healthcare.
The transaction includes American Homecare Supply in upstate New York; Denmark's LLC, operating in Massachusetts, New Hampshire and Rhode Island; and the assets of Rhode Island-based Air Products Seating and Mobility, representing a total of seven branches. Terms of the deal were not disclosed.
"We are very excited with this latest acquisition," said LMI CEO Louis Rocco. "These solid businesses have strong market positions, sound management and processes and tremendous upside potential. With 28 service locations from Boston to Washington and as far west as Buffalo and Harrisburg, LMI is now firmly positioned as the home medical equipment industry leader in the Northeast."
This is LMI's third acquisition from Air Products Healthcare, following its purchase of the metropolitan New York City and New Jersey operations in August 2008, and the acquisition of Healthcare businesses throughout Connecticut, eastern and central Pennsylvania, Maryland, Washington, D.C. and northern Virginia in May 2009.
In July 2008, Air Products, Lehigh Valley, Pa., 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.)
In May this year, the company sold its U.S. home infusion therapy business and some elements of its respiratory and HME business to Walgreens subsidiary OptionCare Enterprises. (See Air Products Sells Infusion Business to Walgreens' OptionCare, May 11, 2009.)
Landauer Metropolitan is the largest privately held home medical equipment company in the northeastern United States, servicing more than 250 health insurance benefit organizations in addition to Medicaid and Medicare through its 28 locations.