May 18, 2009 Lehigh Valley, Pa.
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 www.airproducts.com.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.