Vendors in the news: Harmar Mobility, The MED Group

Tuesday, July 31, 2012

SARASOTA, Fla. – The Cortec Group, a New York-based private equity fund, has acquired Harmar Mobility, according to a press release from Harris Williams & Co., an investment bank that advised Harmar. The transaction closed July 20. “This transaction is evidence of the strong interest that continues in the sector, driven by investors’ desire to find scalable business models in a growing market that is positioned to benefit from positive demographic trends, as well as increasing utilization among the expanding addressable population,” stated Turner Bredrup, a managing director and head of Harris Williams. Previously, Harmar was a portfolio company of Seidler Equity Partners. Cortec acquires high value-added, lower-middle market specialty manufacturing, distribution and service businesses with leadership positions in market niches, according to the release. It manages more than $1 billion of committed capital that is used to acquire platform companies with enterprise values of $40 million to $300 million, as well as smaller follow-on acquisitions, the release states.

MED adds vent program

LUBBOCK, Texas – The MED Group has added a ventilator program to its suppliers network website. The goal: to help healthcare professionals identify quality MED member providers to care for their patients. The vent program was created in direct response from needs expressed by case managers, discharge planners and payers seeking quality clinical respiratory providers to care for their vent patients, according to a press release. The supplier network website was created in 2010 to drive awareness of MED members to healthcare professionals, consumers and caregivers. The website, which also includes a tool to locate providers who are competitive bidding contract suppliers, has received more than 4 million hits this past year.