The former Chief Executive of Lincare Inc., a prominent supplier of health care equipment and gas, has agreed to forgo the commencement of his new role at a competing company for a period of 45 days after the initially decided start date of September 1. In addition to this hiatus, he has pledged to contribute a sum of up to $25,000 to fund a review of his electronic devices, in accordance with a stipulation.
Lincare Inc., which has established a stronghold in the health care equipment segment, will likely emerge unaffected, if not benefit from this cooling-off period. It remains unclear what unexpected consequences this development will bring for the unnamed competing company and the nature of the reviewing process of the executive’s electronic devices.
Read more details about this development over at Law360.