Issue Date: July 28, 2008
Air Products To Sell Health Care Business
After a year in which Air Products tried and failed to increase the profitability of its U.S. health care business, the company has decided to look for a buyer for that business unit. It will record a $237 million after-tax impairment charge in its fiscal-2008 third-quarter results, due mostly to a goodwill write-off. The business has approximately 1,700 employees and serves 120,000 patients. In 2007, it had sales of $271 million from respiratory therapies, home medical equipment, and home-based infusion services.
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