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Home Respiratory Care Firm Lincare to Settle Federal Inquiry.(Originated from St. Petersburg Times, Fla.)
Knight Ridder/Tribune Business News, October, 1996 by Trigaux, Robert
CLEARWATER, Fla.--Oct. 29--Lincare Holdings Inc., a provider of home respiratory care, said Friday it will pay $1 million to the federal government to settle a five-year investigation of services the company once provided a pharmacy.
James T. Kelly, Lincare chairman and chief executive officer, said that while the company maintains it did nothing wrong, its board of directors thought it best to resolve the long-standing inquiry.
As part of the settlement, announced at the closing of the stock market, Clearwater-based Lincare denied any wrongdoing or liability.
Financially, the $1 million payment seems unlikely to have much effect on Lincare. This week, the company said it earned $17.6 million in the quarter ended Sept. 30 and $50...
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