PSS exits skilled nursing home sector in restructuring plan
Dissatisfied with performance that resulted in earnings below estimates for fiscal year 2012 , Jacksonville, Fla.-based PSS World Medical, Inc.has announced a major strategic restructuring plan.
Restructuring plans include divestiture of two business units–skilled nursing facilities and specialty dental practices and focus on four newly structured business verticals—physician, laboratory, in-office dispensing, and home care and hospice. Recent acquisitions of two laboratory service and one physician in-office dispensing companies support the new direction and are expected to add approximately $120 million in annual revenues.
The company also plans to expand its reach into integrated health systems and community health centers.