Gentiva Health Services Inc. (GTIV) said that it has sold its businesses providing respiratory therapy and home medical equipment, and infusion therapy to a subsidiary of Lincare Holdings Inc. (LNCR) in an all-cash transaction. Terms were not disclosed.
The transaction included about forty locations in seven states providing respiratory/HME and/or infusion therapy.
The sale of these operations by Gentiva is consistent with a series of divestitures of non-core assets, including the sale of a majority interest in the ancillary care benefit management services provider CareCentrix in the third quarter of 2008, and branch offices specializing in pediatric and adult private duty services in March 2009.
Moving forward, Gentiva's business will consist primarily of home health and hospice services targeted to the senior population.
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