Integrated closes lithotripsy deal

MARYLAND WATCH

October 07, 1997

Integrated Health Services of Owings Mills announced yesterday that it has closed its deal to buy the lithotripsy division of Coram Healthcare of Denver for $125 million in cash.

Lithotripsy is a technique that uses shock waves to dissolve kidney stones. It is done with mobile machines. Coram's 33 devices serve about 180 locations in 18 states.

The lithotripsy division has annual revenue of about $50 million, or about 10 percent of Coram's income. Integrated will have $2.3 billion a year in revenue after it completes its $900 million deal for RoTech Medical Corp. of Orlando, Fla. That acquisition is expected to close this fall.

Integrated plans to merge the Coram lithotripsy operations with its own mobile diagnostic division, which does mobile X-rays and electrocardiograms.

The acquisition-minded Integrated has assembled the country's largest network of post-hospital services: nursing and rehabilitation facilities, home nursing services, home infusion services, respiratory therapy and hospice care.

Integrated's stock closed yesterday at $33.50 a share, down 12.5 cents.

Pub Date: 10/07/97

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