Air Products Sells Three U.S. Healthcare Businesses to Landauer-Metropolitan
May 18 2009 - 2:42PM
PR Newswire (US)
LEHIGH VALLEY, Pa., May 18 /PRNewswire-FirstCall/ -- Air Products
(NYSE: APD) today announced it has sold three of its U.S.
healthcare businesses to Landauer-Metropolitan, Inc. (LMI), the
largest provider of durable medical equipment, respiratory and
infusion services in the northeast, based in Mount Vernon, N.Y.
Terms of the deal were not disclosed. The sale includes Air
Products' ownership interests in certain of the companies
previously operated as part of the Air Products Healthcare LLC
Group, namely Genox Homecare, serving Connecticut; Mid-Atlantic
Healthcare, serving Maryland, Washington, D.C., and northern
Virginia; and Young's Medical Equipment, serving eastern and
central Pennsylvania and New Jersey. There are approximately 220
employees, 15 locations and more than 36,000 patients associated
with these businesses. Last September, Air Products completed the
sale of two other U.S. healthcare businesses to LMI, including
A&J Care in New York and COPD Services in New Jersey. Earlier
this month, Air Products announced the sale of all of its U.S. home
infusion therapy services business and some elements of its
respiratory and home medical equipment business to OptionCare
Enterprises, Inc., a subsidiary of Walgreen Co. These businesses
included American Homecare Supply, Georgia; Ultra Care and
Dependicare, Chicago metropolitan area; Rx Pharmacy and Mosso's
Medical Supply Company in western Pennsylvania; Collins I.V. Care,
Connecticut, and Air Products Healthcare Pharmacy, Lehigh Valley,
Philadelphia metropolitan and southern New Jersey. Air Products
expects to sell its remaining U.S. healthcare businesses by the end
of the company's fiscal year in September. Air Products (NYSE:APD)
serves customers in industrial, energy, technology and healthcare
markets worldwide with a unique portfolio of atmospheric gases,
process and specialty gases, performance materials, and equipment
and services. Founded in 1940, Air Products has built leading
positions in key growth markets such as semiconductor materials,
refinery hydrogen, home healthcare services, natural gas
liquefaction, and advanced coatings and adhesives. The company is
recognized for its innovative culture, operational excellence and
commitment to safety and the environment. Air Products had fiscal
2008 revenues of $10.4 billion, operations in over 40 countries,
and 21,000 employees around the globe. For more information, visit
http://www.airproducts.com/. ***NOTE: This release may contain
forward-looking statements. Actual results could vary materially,
due to changes in current expectations. DATASOURCE: Air Products
CONTACT: Media, Beth Mentesana, +1-610-481-2459, ; or Investors,
Nelson Squires, +1-610-481-7461, , both of Air Products Web Site:
http://www.airproducts.com/
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