Home Health Depot offloads complex rehab
INDIANAPOLIS – Home Health Depot (HHD) took the phrase, “Jack of all trades, master of none” to heart when it sold its complex rehab technology division to National Seating & Mobility.
“Our company was being spread too thin,” said Nathan Feltman, president and co-owner of HHD.
Over the past few years, HHD had been actively looking to expand its complex rehab technology footprint, acquiring both Medical Mobility in Indiana and Advanced Rehab Technologies in Iowa in 2012, and opening a branch in Austin, Texas, in 2013.
But, with six different divisions to manage, including hospice and respiratory, Feltman says it was time to become a little more focused and a little less diversified.
NSM, which has acquired several companies since 2013, was a good fit, he said.
“When we began to speak with NSM, we realized that, No. 1, they’re really good at what they do and No. 2, it would be a good home for our employees,” said Feltman.
The acquisition shouldn’t come as a surprise to anyone, said Bob Leonard, an analyst with The Braff Group in Pittsburgh. It’s difficult for smaller complex rehab companies to stay on top of reimbursement and attract skilled practitioners
“Complex rehab is a very specialized business and only a couple of large players are staying the course,” Leonard said. “Everybody’s a seller at some point.”
Moving forward, HHD plans on channeling its energy into respiratory services, including ventilators and oxygen concentrators, hospice equipment services, and developing partnerships with hospitals. HHD currently has several preferred provider arrangements with hospitals in Georgia and Indiana.
“We think that’s where the business is going,” said Feltman.
The terms of the deal were not disclosed.