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Rotech for sale

[lscfa]

 

HME News Staff

Updated 10:14 AM CDT, Fri September 1, 2023

ORLANDO, Fla. – Rotech Healthcare is said to be exploring a possible sale, according to online news reports. 

Rotech is said to have tapped investment bank Jefferies Financial Group to advise on its sale process, which could value the company at $1.5B.  

In July 2021, the company filed for an initial public offering of up to $100 million in July 2021, with plans to list on the Nasdaq under the symbol ROTK, but paused those plans in 2022, to await more favorable market conditions, President and CEO Tim Pigg told HME News at the time.  

“(We’re) just timed out for now,” said President and CEO Tim Pigg in an email to HME News. “We have not updated but do plan to continue to update once the market changes.”  

More recently, Rotech was awarded contracts to provide home medical equipment services to Humana’s Medicare Advantage HMO members.  

Investment firms Capital Group, Silver Point Capital and Venor Capital Management control the company after helping it emerge out of bankruptcy in 2013. 

 

HME News Staff

Updated 10:14 AM CDT, Fri September 1, 2023

ORLANDO, Fla. – Rotech Healthcare is said to be exploring a possible sale, according to online news reports. 

Rotech is said to have tapped investment bank Jefferies Financial Group to advise on its sale process, which could value the company at $1.5B.  

In July 2021, the company filed for an initial public offering of up to $100 million in July 2021, with plans to list on the Nasdaq under the symbol ROTK, but paused those plans in 2022, to await more favorable market conditions, President and CEO Tim Pigg told HME News at the time.  

“(We’re) just timed out for now,” said President and CEO Tim Pigg in an email to HME News. “We have not updated but do plan to continue to update once the market changes.”  

More recently, Rotech was awarded contracts to provide home medical equipment services to Humana’s Medicare Advantage HMO members.  

Investment firms Capital Group, Silver Point Capital and Venor Capital Management control the company after helping it emerge out of bankruptcy in 2013. 

[besttobe]

Rotech just climbed out of bankruptcy. Of course the creditors that took shares in exchange for debt relief want the business sold to get their money back. Lenders don't run unprofitable hme companies.  Rotech Healthcare Emerges from Bankruptcy   Company reduces outstanding debt by more than $300 million.          

[lscfa]

2013 is not just of bankruptcy, liar. The aborted prospectus filed in 2021 showed Rotech had better metrics than most of its peers

[westcoastlogger]

This post has been removed in accordance with Community Policy

[besttobe]

Here you go ISFCA . PS....Stop the namecalling or I report it. Thank you in advance..... Quote "At the time it filed for bankruptcy, the firm had more than $100 million in assets but owed lenders and noteholders about $543.5 million. More than 100 Rotech units entered bankruptcy as well, according to the main petition filed today in U.S. Bankruptcy Court in Wilmington, Del. Inherited Debt