Provider, buoyed by private equity, looks to grow
HARRISBURG, Pa. – An HME provider in Pennsylvania that aspires to be a “nationally recognized player in the HME space,” has been acquired by a private equity group, it announced this week.
Dynamic Healthcare Services (DHS), in partnership with its management team, including founder and president Terry Luft, has been acquired by a subsidiary of Newtown Square, Pa.-based GMH Ventures.
“Having access to GMH’s strong balance sheet along with their talented executive management team provides us with additional capital and resources to grow DHS into a nationally recognized player in the HME space,” stated Luft, who will stay on as president and CEO of DHS, in a release. “That expansion will allow us to take advantage of growth opportunities we could not have attained prior to this partnership.”
DHS was formed in 2000 as the parent company to Central Medical Equipment and ESMS Home Medical, which were incorporated in 1981. It provides home medical equipment, respiratory therapy and complex rehab products and services in the western and central Pennsylvania markets, and employs more than 70.
GMH plans to leverage DHS’s regional presence and Luft’s experience to expand the company “well beyond its current footprint, leading to untapped fiscal growth and market expansion,” stated Michael Holloway, executive vice president of GMH, in the release.
GMH makes long-term investments in middle-market companies in the manufacturing, distribution and services industries that have strong and experienced in-place management, according to the release.
Terms of the acquisition were not disclosed.