Coram Healthcare Develops Mergers and Acquisitions Strategy; Appoints New Management Members
Company Focuses on Providing Fully Integrated Home Care Offering;
Creates New Management Positions to Identify Opportunities
DENVER, Sept. 2 /PRNewswire/ -- Coram Healthcare (NYSE: CRH) today announced appointments primarily in the area of mergers and acquisitions. These newly created positions were established to help the Company identify and capitalize upon opportunities currently available within the home care marketplace.
Paul J. Quiner, 39, was named Senior Vice President, Mergers and Acquisitions. In this role, Quiner will oversee the Company's planned mergers and acquisition strategy. This strategy will focus on the acquisitions of businesses in the respiratory therapy, home medical equipment, infusion and mail order pharmacy markets that will supplement Coram's existing service offering.
Since 1996, Quiner has served as Coram's Senior Vice President and General Counsel. Quiner joined Coram in 1992 as Assistant General Counsel.
Scott T. Larson, 35, who began his employment at Coram in 1991 as Corporate Counsel and then served as Vice President and Legal Counsel, will replace Quiner as Senior Vice President and General Counsel. In this role, Larson will be responsible for all of the Company's legal-related activities.
To strengthen Coram's M&A team, the Company also appointed Ramon Duran Director of Mergers and Acquisitions. Duran will report directly to Quiner, helping ensure the Company's success in the mergers and acquisitions arena. He began working at Coram in September 1995 holding various positions within the Company's Accounting and Finance groups. He also worked in Coram's former Lithotripsy division.
Richard M. Smith, Coram President, commented on the Company's recently employed strategy and new appointments: "As the home care industry continues to evolve, we recognize the necessity to provide a comprehensive offering. We also realize that there are vast opportunities available in the marketplace today on which Coram is now well positioned to capitalize. The team we have assembled is a dynamic one with significant expertise in the operations, business development and legal areas. We believe they will be successful in helping change Coram's business mix and enhancing our offering to include fully integrated, quality clinical care.
"In addition, the recent $60 million line of credit will offer us the necessary financial flexibility to seize appropriate opportunities in the marketplace and allow us to move ahead on providing a complete home care offering to patients and managed care organizations nationwide," Smith concluded. |
