O2 Science Gains Investors for Expansion

O2 Science Gains Investors for Expansion

Tempe, Ariz.

Regional home respiratory provider O [subscript]2 Science has announced completion of $10.2 million in financing, with the intent to reduce debt, increase organic growth and prepare for acquisitions.

The financing, which came from private equity investment firm Kline Hawkes & Co. of Los Angeles, allowed a recent management buyout by O [subscript]2 Science senior executives from its previous majority shareholder DVI, a specialty finance company for health care providers. DVI filed bankruptcy in September 2003.

With 16 branches in seven states, O [subscript]2 Science intends to expand its network further by opening additional offices and by acquiring synergistic companies, said company President and CEO Mark Hanley.

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