Investment company buys into Roscoe Medical
STRONGSVILLE, Ohio - Roscoe Medical announced earlier this month that it has finalized a recapitalization of the company with River Associates, a private equity investment group based in Chattanooga, Tenn.
The new partnership will allow Roscoe Medical to grow during the next several years through expanded product lines and new services, Roscoe stated in a release. The move also transitions partial ownership of the company to the current management team, according to retiring owner and founder Rochelle Theuner.
Roscoe's current management team, including Vice President of Product Development Jesse Keirn, Vice President of Sales Richard Keirn and Vice President of Operations Jason Ziebro, will continue to oversee day-to-day management of the company and will become minority owners. Jesse Keirn and Richard Keirn will also serve as co-presidents.
Roscoe Medical currently employs nearly 40 full-time staff, a number Thuener expects to grow as sales increase.
River Associates specializes in partnerships with small- and medium-sized companies throughout North America.
Roscoe Medical is an international distributor of HME replacement parts and supplies. Product lines include replacement parts and supplies for oxygen concentrators, liquid oxygen systems, compressed gas, CPAP units and manual wheelchairs. Roscoe has served the home healthcare industry since 1993 and is headquartered 20 miles outside of Cleveland in Strongsville, Ohio.