HealthCor sells all of its HME operations to Lincare Holdings
July 12, 1999 2 minutes read
HealthCor sells all of its HME operations to Lincare Holdings
By MEREDITH BONNER
HHBR Editor
Effective June 30, Lincare Holdings (Clearwater, FL) took over the home medical equipment (HME) operations of HealthCor Holdings (Dallas). With the sale, HealthCor hopes to be able to better cope with the new Medicare reimbursement rules.
HealthCor sold 56 HME locations in all, located in Arkansas, Arizona, Kansas, Oklahoma, New Mexico, Missouri, and Texas. One HME location in Denver remains under the ownership of HealthCor until a buyer is found, but officials said the company is now negotiating with other potential buyers for this location. The 56 locations are all of HealthCor’s HME businesses.
Nancy Hetherington, a spokeswoman for HealthCor, told HHBR the company is divesting itself of the HME operations not only in response to reimbursement issues, but also in an effort to return to its core business, which is its nursing operations.
Hetherington also said the transition to Lincare has been as smooth as possible for all of HealthCor’s patients. All of the patients in the areas in which operations have been sold are still receiving services, she said.
"There has been and will be some consolidation of offices that will be purchased," Hetherington added. "There is some duplication of services in some markets, so there will be some consolidation in those markets."
Two weeks ago, HealthCor sold its Texas community care service offices to Auxi Health (Nashville, TN). In addition, in late May, the company said it had decided to withdraw from providing services to Medicare Part A beneficiaries, saying it was a direct result of changes in Medicare reimbursement.
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