Reliable Medical, Seven Hills enter second chapter

FRANKLIN, Tenn. – Reliable Medical’s re-investment from Seven Hills Capital is a testament to how much growth the company, led by CEO Katie Stevens, still has ahead of it, says Matt Pettit.  

Reliable Medical first received an investment from Seven Hills Capital, a Nashville, Tenn.-based operator-centric private equity firm, in 2018, setting the company on a trajectory of growth that saw it acquire numerous companies, including Orbit Medical in late 2022, and extend its reach into more than a dozen states.  

“A lot of firms look to buy and sell, and we partner to build great companies,” said Pettit, founding partner at Seven Hills Capital. “As Katie continues to grow the company in an impressive manner, she has our continued support.”  

Since partnering with Seven Hills Capital, Reliable Medical, which has a strong focus on complex rehab technology, has also significantly deepened its base of assistive technology professionals (ATPs) to nearly 100 across 35 locations.  

Going into 2024 and beyond, Seven Hills Capital’s reinvestment will help Reliable Medical be “capital unconstrained,” Pettit and Stevens say, in an industry where short-term games can be difficult and long-term growth is more valuable.  

“To grow at the rate we’ve been growing at and to execute on all of the opportunity in front of us, we need that ongoing support,” Stevens said.  

Reliable Medical already has plans to leverage strategic business models that are “symbiotic” to its core CRT business, as well continue to open de novo locations, building on the company’s ongoing ability to attract “top talent” and referral sources, Stevens says.  

“We’re doing business the right way,” she said. “We provide clinical autonomy and a strong service model, and we have a people-first culture with accessibility to the leadership team, which knows the business and has worked hard in this industry for many years. So much of our growth is the result of this approach, prioritizing taking care of our people and our customers.”