Companies in the News

Continental to purchase Mobility Plus

Continental Home Healthcare (Glendale, CA) has entered into a letter of intent to acquire all of the assets of Mobility Plus (Las Vegas), an HME rental and sale business. Mobility Plus has revenues of more than $400,000 annually.

The aggregate cost of the acquisition, Continental said, is $175,000 and includes a cash payment of $150,000 and the issuance of $25,000 in common shares of Continental. As a condition of the transaction, offers of employment will be made to all five existing employees of Mobility Plus, Continental said.

StaffBuilders unit teams wth GraciasDoctor.com

GraciasDoctor.com (McLean, VA), a multimedia, trilingual health information Web site announced today a comprehensive strategic alliance with StaffBuilders Brazil (Sao Paulo, Brazil). GraciasDoctor.com CEO Emilio Williams said the relationship will "help both companies to educate Latinos around the world about the growing opportunities to benefit from home care services." Williams also announced plans to develop interactive channels dedicated to Latinos who use or are thinking of using home care for themselves and family members.

As part of the partnership, StaffBuilders Brazil's upcoming Web site will use ObrigadoDoutor.com, the Portuguese version of the Latino health site, as the exclusive provider of health information. StaffBuilders Brazil is the master franchisee for Brazil of StaffBuilders International of the United States and its Tender Loving Care division, a U.S. provider of home care services.

HomMed’s monitoring system gets FDA approval

HomMed (Brookfield, WI) has received approval from the Food and Drug Administration (Washington) for its home monitoring system. The system, the company said, was designed to provide a better quality of life for those living with health problems associated with age or chronic conditions. The HomMed system collects, transmits, and stores true clinical data, which can be used by clinicians to support diagnostic decisions.

Lexington’s chairman/CEO resigns

Lexington Healthcare’s (Farmington, CT) Chairman and CEO, Jack Friedler, announced he will retire. Friedler will be replaced by Harry Dermer, Lexington’s president and COO.

Mid-Atlantic sees improvement in 1Q00 revenues

Mid-Atlantic Home Health Network (Manassas, VA) had a 29% increase in revenues in FY99 over its FY98 revenues. The company said it posted a net income of $426,000, compared to a FY98 net income of $8,000.

The company’s revenues for 1Q00 jumped to $6.3 million, a 52% increase over 1Q99 revenues.

President Dennis Light says the firm has had a "laser beam focus on developing creative approaches to recruiting sufficient nursing personnel to meet the demands of its referral hospitals, nursing homes, and private patients."

Option Care makes management changes

Option Care (Bannockburn, IL) Chief Operating Officer Raj Rai last week was elected president and COO. In addition, Chairman John Kapoor became CEO, replacing former President and CEO Michael Rusnak. Rusnak left Option Care to pursue other opportunities, the company said.

Option Care also promoted Michael Siri to senior vice president and CFO from his prior position as vice president and CFO. n