Tag: Mergers & Acquisitions (M&A)

FRESNO, Calif. – Sunrise Medical has acquired Ride Designs, significantly expanding the company’s custom seating offerings, clinical expertise and service capabilities.   Denver-based Ride Designs, which was founded in 1998 by Tom Hetzel and Joe Bieganek, has built a name for itself for designing and delivering highly specialized seating systems for wheelchairs using the most up-to-date technologies, including 3D printing.  “By joining forces with Ride Designs,...

YARMOUTH, Maine – It’s been a challenging year for M&A in the home medical equipment sector, as broader economic conditions have put many buyers on standby, say analysts.   For buyers – both strategic and investors – higher employee wages and increased delivery costs have made them take a closer look at bottom lines and have decreased their appetite for acquisitions, says Pat Clifford.  “After years of acquisitions, the buyers are kind of taking...

WAYNE, Pa. - Blake Pharmacy has sold to PharMerica, a national provider of pharmaceutical services, according to Paragon Ventures. Blake Pharmacy has established a strong presence in Florida and its sale to PharMerica will allow it to leverage resources, infrastructure and advanced technology platforms. “We are proud to join forces with PharMerica and embark on this exciting new chapter,” said Ashish Patel, founder and CEO of Blake Pharmacy. “By integrating our strengths and capabilities,...

CINCINNATI – Quipt Home Medical has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of about $ 9 million and adjusted EDITDA of $2 million post-integration.  The company says the acquisition adds scale with 10 locations, 17,500 active patients, 1,900 unique referring physicians and important insurance contracts.  “The completion of this transaction demonstrates our ongoing patience and discipline as it relates...

STOCKHOLM - ADDvise Group, a supplier of equipment to health care and research facilities, has entered into a share purchase agreement with the owners of Diabetic Supplies Inc. to acquire all shares of the company. ADDvise Group will acquire Diabetes Supplies for an initial cash purchase price of $9.5 million, with two potential earn-outs of a total of $5.1 million, providing that Diabetic Supplies achieves certain determined financial targets. Diabetic Supplies’ revenue for the 12 months ended...

PITTSBURGH – Kris Novak has joined The Braff Group as a managing director of home health, home care and hospice, where he will be responsible for the western United States, joining Mark Kulik, senior managing director of home health, home are and hospice, Eastern United States. Novak has 14 years of M&A experience in the home health industry, most recently at Amedisys, where he most recently served as senior vice president of mergers, acquisitions and integration. While at Amedisys, Novak led...

MINNEAPOLIS – Coloplast has signed an agreement to buy Kerecis, a biotech company based in Iceland that is pioneering the use of fish skin in the regenerative medicine market, for up to $1.3 billion.  Coloplast will pay $1.2 billion upfront on a cash and debt-free basis and will pay up to a $100 million earnout dependent on financial performance in fiscal year 2023-24.  “The advanced wound care market holds significant untapped potential, and today Coloplast is only present...

NEW BEDFORD, Mass. - Enos Home Medical has expanded its footprint in northern Massachusetts and reinforced its focus on the hospice market with a recent acquisition of “significant DME assets” in the area, says Jon Enos.  The acquisition better positions Enos Home Medical to “meet current dynamic market conditions and today’s ever-changing medical landscape,” the company says.  “We are excited to be able to reach even more hospice patients in the...

NEW BEDFORD, Mass. - Enos Home Medical has expanded its footprint in northern Massachusetts and reinforced its focus on the hospice market with a recent acquisition of “significant DME assets” in the area, says Jon Enos.  The acquisition better positions Enos Home Medical to “meet current dynamic market conditions and today’s ever-changing medical landscape,” the company says.  “We are excited to be able to reach even more hospice patients in the...

BANNOCKBURN, Ill. – Option Care Health announced today that it has terminated its $3.6 billion merger with Amedisys, just weeks after Optum made an unsolicited bid for the home health care provider.  Option Care Health says it will receive a $106 million termination fee.   "While we are disappointed in this outcome, Option Care Health has a long track record of delivering value for our shareholders," said John C. Rademacher, president and CEO. "We take a disciplined approach...