Drive Medical, SP Industries make acquisitions
YARMOUTH, Maine – The HME industry saw a spurt of M&A activity this week, with Drive Medical buying Medquip, and SP Industries buying Bel-Art Products, the parent company of Maddak.
Drive Medical becomes well equipped
Port Washington, N.Y.-based Drive Medical says the acquisition of Medquip positions it as a leader in the nebulizer and respiratory disposable product categories. Bluffton, S.C.-based Medquip is best known for its Airial line of pediatric nebulizers, according to a press release.
“Drive will also be adding breast pumps and digital blood pressure products, which will provide additional retail opportunities for customers,” said Harvey Diamond, CEO of Drive, in the release.
Craig Bright, the principal owner of Medquip, will join Drive Medical’s management team as senior vice president of business development, respiratory products. He will direct the nebulizer and respiratory disposable product categories in North America for the combined companies.
Medquip’s operations will be integrated into Drive Medical’s southeast distribution center in Atlanta.
SP Industries grows market share
Warminster, Pa.-based SP Industries says the acquisition of Bel-Art Products offers increased opportunities to grow market share by cross-marketing across brands and leveraging each company’s expertise in product development, operations, finance and supply chain management.
Brad Mahood, COO of Bel-Art, will play a key leadership role in sales, marketing and product management at the corporate level at SP Industries. David Landsberger, president of Bel-Art, will join the company’s board of directors.