Exhibit 99.1

Lincare Holdings Inc. Announces Second Quarter and First Half 2012 Financial Results

CLEARWATER, Fla., July 16, 2012 (GLOBE NEWSWIRE) — Lincare Holdings Inc. (LNCR) today announced financial results for the three and six months ended June 30, 2012.

For the quarter ended June 30, 2012, net revenues were $496.2 million, a 10.5% increase over net revenues of $449.0 million for the second quarter of 2011. The Company estimates that the 10.5% increase in net revenues in the second quarter of 2012 was comprised of approximately 11.0% internal and acquisition growth offset by approximately 0.5% negative impact from $2.1 million of Medicare payment reductions during the second quarter of 2012. Net income for the quarter ended June 30, 2012, was $47.9 million compared with net income of $42.8 million for the second quarter of 2011. Diluted earnings per share were $0.56 for the quarter ended June 30, 2012, a 25% increase over diluted earnings per share of $0.45 for the comparable prior year period.

Net revenues for the six months ended June 30, 2012, were $997.0 million, a 13.2% increase over net revenues of $880.6 million for the comparable period in 2011. The Company estimates that the 13.2% increase in net revenues in the first six months of 2012 was comprised of approximately 13.7% internal and acquisition growth offset by approximately 0.5% negative impact from $4.3 million of Medicare payment changes impacting the first six months of this year. Net income for the six months ended June 30, 2012, was $94.3 million compared with net income of $89.1 million for the first half of 2011. Diluted earnings per share were $1.10 for the six months ended June 30, 2012, a 17.8% increase over diluted earnings per share of $0.94 for the comparable period last year.

John P. Byrnes, Lincare’s Chief Executive Officer, said, “We are pleased with Lincare’s operating and financial performance during the first half of 2012. We continue to focus on those activities that we believe will drive the long-term success of our Company — an emphasis on organic revenue growth driven by our market leading positions in our core respiratory service lines and expansion of our product offerings across our national network of local distribution and sales centers, accompanied by disciplined cost containment and operating efficiencies that maximize our operating cash flows.”

Mr. Byrnes added, “We expanded our anti-coagulation monitoring business significantly in the past year, growing the number of patients on service from approximately 10,000 at June 30, 2011 to over 23,000 at June 30, 2012, an increase of 130 percent. We now have five pulmonary rehabilitation centers open and operating, with aggressive plans to expand our footprint within and beyond the two states in which we are currently operating. Our specialty pharmacy business is progressing well, with the anticipated drop-off in respiratory syncytial virus drug sales occurring in the second quarter, consistent with the fall/winter selling cycle for that treatment, which contributed to the increase in our gross margin this quarter compared with the first quarter of 2012. We have made significant progress in executing on our cost savings initiatives, consolidating 50 of our operating centers in the first six months of this year.”

Lincare generated $130.1 million of cash from operating activities during the first six months of 2012 and invested $62.2 million in net capital expenditures and $15.9 million in business acquisitions. Common shares outstanding at June 30, 2012 were 86,442,486. As of June 30, 2012, total long-term obligations, including current installments, were $803.8 million and cash and investments were $165.9 million.

Lincare, headquartered in Clearwater, Florida, is one of the nation’s largest providers of respiratory therapy and other services to patients in the home. The Company provides services and equipment to more than 800,000 customers in 48 U.S. states and Canada through 1,058 local centers.

Statements in this release concerning future results, performance or expectations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All forward-looking statements included in this document are based upon information available to Lincare as of the date hereof and

Lincare assumes no obligation to update any such forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause Lincare’s actual results, levels of activity, performance or achievements to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statements. In some cases, forward-looking statements that involve risks and uncertainties contain terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or variations of these terms or other comparable terminology.

Key factors that have an impact on Lincare’s ability to attain any estimates contained in this release include potential reductions in reimbursement rates by government and other third party payors, changes in reimbursement policies, the demand for Lincare’s products and services, the availability of appropriate acquisition candidates and Lincare’s ability to successfully complete and integrate acquisitions, efficient operation of Lincare’s existing and future operating facilities, regulation and/or regulatory action affecting Lincare or its business, economic and competitive conditions, access to borrowed and/or equity capital on favorable terms and other risks described in the filings of Lincare with the Securities and Exchange Commission.

In developing its forward-looking statements, Lincare has made certain assumptions relating to reimbursement rates and policies, internal growth and acquisitions and the outcome of various legal and regulatory proceedings. If the assumptions used by Lincare differ materially from what actually occurs, then actual results could vary significantly from the performance projected in the forward-looking statements. Lincare is under no duty to update any of the forward-looking statements after the date of this release.

LINCARE HOLDINGS INC. AND SUBSIDIARIES

Financial Summary

(In thousands, except share and per share data)

(Unaudited)

LINCARE HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

Contact:

Paul G. Gabos

(727) 530-7700