Drive acquires European maker of mobility products

Thursday, January 31, 2008

PORT WASHINGTON, N.Y. - Drive Medical continued its push into the European market in December when it announced the acquisition of Medicare Technology Limited, a manufacturer and distributor of power mobility products, lift chairs, patient aids and bathroom safety products in Europe.
Medicare's principal facility is located in West Yorks, United Kingdom. From there it distributes its products throughout Europe, including all of the United Kingdom, Germany, Austria, Belgium, Spain, Greece and other countries.
Drive Medical first entered the European market in December 2006 through its acquisition of Peter Endres, GmbH and Co. KG ("Endres"), a German manufacturer and distributor of bath lifts and mobility aids.
Drive CEO Harvey Diamond stated in a release: "The acquisition of Medicare, along with our previously completed acquisition of Endres, will provide Drive Medical with a substantial platform in Europe from which to launch new products, enter new markets and implement growth initiatives on an international scale. We intend to expand the product offering of Medicare by surrounding it with Drive's product line and utilize Medicare's existing distribution channels in Europe to expand Drive's presence."