Air Products sells major portion of U.S. healthcare operations to Walgreens
LEHIGH VALLEY, Pa. Air Products 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, a subsidiary of Walgreens.
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).
Terms of the agreement were not disclosed.
The transaction represents nearly 50% of the remaining Air Products Healthcare Group portfolio, and includes 15 locations with 550 employees serving about 25,000 patients.
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.
Mylan co-founder Milan “Mike” Puskar to retire
PITTSBURGH The chairman of the board and co-founder of generic drug maker Mylan will retire from his position, Mylan announced Thursday.
Milan “Mike” Puskar will step down as chairman of the board, replaced by vice chairman and CEO Robert Coury. Puskar said he will retire as a director effective Oct. 1.
“On behalf of the board of directors and all of Mylan’s employees and shareholders, I would like to personally thank Mike Puskar for his many accomplishments; his impact on the industry; and for his service and leadership,” Coury said in a statement upon his election as board chairman. “Mike will truly, truly be missed.”
Puskar co-founded the company as a privately held drug distributor in 1961 with Don Panoz. He has been chairman of the board since 1993 and a director in the company for 33 years, serving as president from 1976 to 2000 and as CEO from 2000 to 2002.
“The time has come for met o step down as chairman, and I am more than confident that under Robert’s passionate and strategic direction, Mylan will continue to provide leadership for an industry that is continually evolving,” Puskar stated. “Robert has taken what we started almost 50 years ago and turned it into a global powerhouse with a vast reach that is unique among our peers.”
Target reports April sales results
MINNEAPOLIS Target reported that its net retail sales for the four weeks ended May 2, 2009 were approximately $4.45 million, an increase of 4.5% from $4.25 million for the four weeks ended May 3, 2008.
On this same basis, April comparable-store sales increased 0.3%.
“April sales results were in line with our guidance for the month,” said Gregg Steinhafel, chairman, president and CEO Target Corp. “For the first quarter overall, retail segment financial performance was significantly better than expected, and the credit card segment performed in line with our prior guidance. As a result, we expect first quarter earnings per share results to be well above the current median First Call estimate of 52 cents.”
Year-to-date sales are approximately $14.36 million.