PE firm acquires two providers, enters bid program
PHILADELPHIA – SRA Healthcare, a spinoff private equity investment firm of SRA Capital, has acquired two HME providers in the Philadelphia region: Southampton, Pa.-based Total Medical Solutions and Bristol, Pa.-based Medical Express. SRA acquired the companies in separate transactions led by Paragon Ventures. Terms were not disclosed. The combined companies, which provide respiratory, wound care, mobility and related products in the home and in sub-acute care facilities, will form the operations of SRA Healthcare. The acquisitions also make SRA Healthcare a contract supplier under CMS’s competitive bidding program. “SRA Healthcare will provide the capital and expertise to accelerate strategic expansion, including new product offerings and additional branch locations,” stated Richard Syrek, CEO of SRA Healthcare, in a release.