In January 2001, Dick Burnham, CEO of Odyssey Healthcare, and the Board of Directors of Odyssey were considering selling the company to a greater or hospice provider of the initial public offering (IPO). With 38 hospice locations in 21 states, Odyssey has been assisting the terminally ill since its first location opened in 1996. Since then the company has grown rapidly through a series of acquisitions, development of new places hospice, and organic growth. Odyssey has just realized its first profitable year in 2000, recording a net profit of $ 3.1 million - and is still a relatively young company. In addition, the hospice industry has been subject to extensive federal, state and local regulations on payments for hospice services and operations. Burnham was not sure how the market will react to a company with such a government depends on income. In addition, in recent collapse of the "dot-com" boom in 2000, could make it impossible to float IPO at all given the current market conditions. On a positive note, however, health care companies generally considered recession-proof, and thus can be a sound investment in the case of turning down the economy. Burnham had to decide if it was the right time to quit, and if so, the best solution is. "Hide
by Robert F. Higgins, Virginia A. Fuller died Raffat Source: Harvard Business School 27 pages. Publication Date: September 18, 2008. Prod. #: 809052-PDF-ENG
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