Founding CEO Jim Kelly continues to work with Summit, and today serves on the board of CareCentrix. In 2012, Lincare was acquired by The Linde Group for $4.6 billion. Summit exited the investment in 1994, and over the next 18 years, Lincare became the largest respiratory therapy provider in the United States, serving more than 800,000 patients in 48 states. Lincare completed its initial public offering in 1992, raising $50 million in a difficult market. Assisted in the selection of underwriters for IPO.Participated in diligence meetings, and provided additional financing to support acquisition strategy.Recruited healthcare entrepreneur Chester Black and former IBM CEO Frank Cary to the board of directors.Funded buyout from Union Carbide and provided financing for future acquisitions Headquartered in Clearwater, Florida, Lincare is one of the nations largest providers of oxygen and other respiratory therapy services to patients in the home. Under the leadership of CEO Jim Kelly, the team sought financial partners to fund not just current operations, but also future growth. The market for home respiratory services and equipment was fragmented, and Lincare’s management believed that there was significant potential for expansion through internal growth and acquisition. Originally a part of Union Carbide, Lincare -a provider of home medical care-became an independent company in 1990.
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