Gentiva Sells parts of its business
Gentiva Health Services, Inc. (Nasdaq: GTIV), a leading provider of comprehensive home health services, announced today that it has sold its businesses providing respiratory therapy and home medical equipment, and infusion therapy to a subsidiary of Lincare Holdings Inc. (Nasdaq: LNCR) in an all-cash transaction. Terms were not disclosed.
Included in the transaction are approximately forty locations in seven states providing respiratory/HME and/or infusion therapy. The businesses generated revenue of approximately $55 million for the trailing twelve months ended September 27, 2009. The sale of these operations by Gentiva is consistent with a series of divestitures of non-core assets, including the sale of (i) a majority interest in the ancillary care benefit management services provider CareCentrix in the third quarter of 2008; and (ii) branch offices specializing in pediatric and adult private duty services in March 2009. [Read the full article]
Underwriters Laboratories, Inc. (UL) announced today that it has acquired Luminaire Testing Laboratory (LTL), based in Allentown, PA. LTL is an independent testing laboratory that provides performance testing of lamps and luminaires and is one of five laboratories approved by the Department of Energy (DOE) for ENERGY STAR qualification testing for LED lighting products. The acquisition bolsters UL’s leadership in the lighting industry, which is a strategic market for UL.
“LED technology and energy efficiency are transforming the lighting industry, with the market for LED products estimated to grow significantly over the next 15 years,” said Keith Williams, UL’s President and CEO. [Read the full article]
Deloitte announced today that Robert T. O’Brien has been appointed to lead the U.S. real estate practice and has been elected a vice chairman, effective immediately. O’Brien succeeds practice leader, Dorothy Alpert, who has assumed the role of northeast deputy regional managing partner.
“Bob’s broad background and global relationships position him well to execute for our clients. His more than 25 years of public accounting and transaction experience in the real estate and hospitality industries will prove to be an invaluable asset to Deloitte and to our clients in meeting the challenges of the current market dislocation,” said Bill Freda, Deloitte’s vice chairman and U.S. managing partner for clients and markets.
In his role as U.S. [Read the full article]