Respiratory therapy services provider Lincare has entered into a definitive agreement to to acquire American HomePatient Inc from Highland Capital Management L.P.
The transaction, which is subject to customary approvals and regulatory review, is expected to close in the first quarter of 2016.
“The acquisition of American HomePatient will further our strategic growth as we strive to set the standard of excellence for respiratory care delivered in the home,” says Lincare CEO Kristen Hoefer in a release. “Our dedication to quality care, professionalism and responsiveness has helped us achieve consistent growth and success, and we look forward to this opportunity to work with the employees and customers of American HomePatient.”
American HomePatient president and CEO Mark Lamp, says, “This decision follows many months of strategic research, with the support of Highland Capital Management and our advisor Jefferies, LLC, and careful consideration to determine the best opportunity for our company. We are pleased to have found a partner in Lincare that placed a value on our growth, performance, and experience. We look forward to working together to deliver on our shared commitment to outstanding customer service.”
Matt Jameson, managing director, co-head of Highland’s Private Equity Group, and chairman of the Board at American HomePatient, says, “Under Highland’s ownership, American HomePatient benefited from our strategic and operational resources, which helped its management team achieve strong growth while providing high-quality care to patients nationwide.”