In 2006 for $16 billion, it links Lincare back to the German firm from whence it was originally spun off.įounded in 1879, Linde AG created a U.S. In addition to being Linde’s largest acquisition since it bought BOC Group Ltd. This transaction will benefit all of the stakeholders involved and we look forward to being part of the Linde Group.” Byrnes, CEO of Lincare, said, “the Lincare Board believes that being part of a world-class organization will afford the company benefits it would not be able to realize on its own. “We are very pleased to make this announcement,” John P. We are looking forward to welcoming the Lincare management and all employees to The Linde Group.” subsidiary, LifeGas, already enjoys a close business relationship with Lincare for several years. “Lincare, as one of the leading home healthcare providers in the U.S., provides us an ideal platform to roll out our innovative products - which are already successful, particularly in Europe - into the U.S., the largest region for healthcare revenues globally,” said Linde CEO Wolfgang Reitzle. The deal provides Linde with a solid platform for expanding its business beyond supplying hospital and other institutional markets and into the homecare sector. The deal is targeted to close by the end of this year. The purchase price will be at $41.50 a share and will be funded through a combination of cash and $4.5 billion in loan financing via debt and equity issues. for $4.6 billion, making the transaction Linde’s largest buy since 2006. Germany pharmaceutical and medical gas firm Linde AG will purchase Clearwater, Fla.-based national provider Lincare Holdings Inc. The two companies said they expect the deal to close in the third quarter.$4.6 billion acquisition will expand German firm’s reach into homecare. The loan would be refinanced by issuing new debt and shares, with a €1.5 billion cap on new share issues. Linde said it would fund the deal through an acquisition loan of $4.5 billion from Morgan Stanley and Deutsche Bank and through available cash. Byrnes said its board believed the planned merger “will afford the company benefits it would not be able to realize on its own.” It has 50,500 employees in over 100 countries and reported sales of €13.78 billion last year. Linde, headquartered in Munich, is a major maker of gases used for medical purposes such as oxygen therapy, aerosol therapy and anesthesia. government insurance program for people over 65, and about a third from private insurance. Just under half its revenues come from Medicare, the U.S. The company has told investors it sees revenues being driven by an aging population, advances in lung medicine along with new drugs, and cost pressures that reward more efficient service providers. It reported net revenues of $1.85 billion last year, a 10.7 percent increase over the year before. Its services include oxygen therapy, chemotherapy, managing feeding tubes, pain management, treatment of sleep apnea, and home ventilators. states and in Canada through 1,091 local centers and has 11,000 employees, according to its website. Lincare provides respiratory therapy to patients in the home in 48 U.S. He called the health business “a global megatrend” due to aging populations and new treatments. “Health care is one of our three growth pillars,” he told journalists on a conference call Monday. Linde’s CEO Wolfgang Reitzle said the deal would double sales for the company’s North American gases division. Linde will make a tender offer of $41.50 per share in cash for all outstanding stock of Lincare, which is based in Clearwater, Florida. In a statement late Sunday, Linde said it was buying Lincare in an agreed cash deal worth $4.6 billion.