Steel Partners buys Rotech Healthcare shares

By Lisa Kerner

Charlotte, N.C., Feb. 5 - Rotech Healthcare Inc. investors led by Steel Partners II, LP increased their ownership of the company to 14.9% from 8.5% with the purchase of 1,619,000 shares of the company's stock.

The shares were purchased on Feb. 1 and Feb. 4 priced at $0.2813 and $0.5700, respectively, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 3.79 million shares of Rotech's outstanding stock, which were purchased for about $16.18 million using partnership funds.

Rotech is an Orlando, Fla.-based provider of home medical equipment and related products and services.

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