Drive Medical Canada buys DME brands from AMG Medical
PORT WASHINGTON, N.Y. – A wholly owned subsidiary of Drive DeVilbiss Healthcare has acquired the mobility and bath safety businesses of AMG Medical, a Montreal-based wholesale distributor of medical professional and home healthcare products.
Per the deal, Drive Medical Canada acquires the Hugo, Profilio, AquaSense and Airgo brands.
“This is a strategic acquisition for Drive Medical Canada,” said Harvey Diamond, chairman and CEO of Drive, in a press release. “Adding these well-known brands to the Drive family of products provides us with brand leverage and distribution into all major wholesalers, retailers and homecare dealers throughout Canada. In addition, we look forward to promoting these prestigious products to our customers in the United States and all over the world.”
During a 90-day transition period, Drive Medical Canada and the acquired brands will operate independently, according to the release.
Long-term, Drive Medical Canada will maintain a Montreal-based office and key personnel associated with the brands.
“We intend to continue to provide the quality, service and support that AMG’s customers have come to rely upon, along with Drive’s extensive product portfolio and distribution network,” said Kathy Sarafian, CEO of Drive Medical Canada, in the release.
Terms of the deal were not disclosed.
Drive DeVilbiss most recently made headlines when it received a “significant investment” from New York-based private equity firm Clayton, Dubilier & Rice. At closing, likely in the fourth quarter, CD&R will become a majority stakeholder in the company, with management becoming a minority stakeholder.