Provider transitions to employee ownership
GARDEN CITY, N.Y. – Home Medical Equipment, a provider of custom mobility products, equipment and services, is now 100% owned by its Employee Stock Ownership Plan (ESOP). “Our new ownership structure promises great things for the future of our company,” said Bill Tobia, president of Home Medical Equipment, in a release. “It’s a meaningful change for all of our hardworking, dedicated employees who now share ownership in the company they helped to build.” CSG Partners served as the exclusive financial advisor to Home Medical Equipment on the transition. “Not only is the ESOP a highly strategic liquidity structure for shareholders, it also provides exceptional benefits to employees and positions the company for long-term success,” said Stephen Berman, a managing director at CSG, in the release.