Air Products Sells Major Portion of U.S. Healthcare Operations to Walgreens
LEHIGH VALLEY, Pa., May 5 -- Air Products (NYSE: APD) today announced it has sold 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. Terms of the agreement were not disclosed.
The transaction includes Air Products' ownership interests in certain of the companies previously operated as part of the Air Products Healthcare LLC Group, notably the home infusion therapy business of American Homecare Supply, Georgia (serving Atlanta and northern Georgia); Ultra Care and Dependicare (Chicago metropolitan area); Rx Pharmacy Services and Mosso's Medical Supply Company (western Pennsylvania and Pittsburgh metropolitan area); Collins I.V. Care (Connecticut); and Air Products Healthcare Pharmacy (Lehigh Valley, Philadelphia metropolitan area and southern New Jersey).
The transaction represents nearly 50 percent of the remaining Air Products Healthcare Group portfolio and includes 15 locations with 550 employees serving about 25,000 patients.
About OptionCare Enterprises, Inc.
Walgreens-OptionCare delivers quality, compassionate, patient-focused home infusion, respiratory/oxygen and medical equipment services through more than 100 accredited home care facilities in 36 states. The company's clinical programs provide the expert care coordination expected by patients, physicians and insurance plans for successful outcomes.
About Air Products
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 www.airproducts.com.
Source: Air Products
CONTACT: Media, Beth Mentesana, +1-610-481-2459, mentesbk@airproducts.com,
or Investors, Nelson Squires, +1-610-481-7461, squirenj@airproducts.com, both of Air Products
Web Site: www.airproducts.com/
