The week in acquisitions

PE firm acquires two providers, enters bid program
Friday, August 29, 2014

PHILADELPHIA – SRA Healthcare, a spinoff private equity investment firm of SRA Capital, has acquired two HME providers in the Philadelphia region: Southampton, Pa.-based Total Medical Solutions and Bristol, Pa.-based Medical Express. SRA acquired the companies in separate transactions led by Paragon Ventures. Terms were not disclosed. The combined companies, which provide respiratory, wound care, mobility and related products in the home and in sub-acute care facilities, will form the operations of SRA Healthcare. The acquisitions also make SRA Healthcare a contract supplier under CMS’s competitive bidding program. “SRA Healthcare will provide the capital and expertise to accelerate strategic expansion, including new product offerings and additional branch locations,” stated Richard Syrek, CEO of SRA Healthcare, in a release.

Respiratory Services acquires company, insurance contracts

CHEEKTOWAGA, N.Y. – Respiratory Services of Western New York has acquired Durable Medical Equipment and Supplies with locations in LeRoy and Honeoye, N.Y., it announced Aug. 25. The impetus behind the deal: insurance contracts, according to Co-owner Michael McCartney. “Now we can take Excellus and also United Healthcare, Empire and more government contracts that this little company had and make us that much more powerful,” he said in a release. Through the acquisition, Respiratory Services also adds mastectomy products and lymphedema products to its offerings, and gains a foothold to expand in the Rochester market.

Aeroflow’s focus shifts to national scale

ASHEVILLE, N.C. – Aeroflow has announced it’s looking for companies to acquire as part of a strategic expansion of its DME business. Aeroflow recently announced that it acquired Hometown Respiratory to increase service in the High Point/Greensboro/Winston-Salem area. Before that, in January, it acquired AirCare. “The company is seeking to acquire strategic partners that can greatly accelerate its growth as its focus shifts to a national scale,” it states in a release. “Ideally, Aeroflow is seeking a DME company with a history of providing oxygen, PAP and other standard DME products, either multi-line or single product categories.” Aeroflow believes a national footprint will provide economies of scale that will help it overcome competitive bidding and reimbursement cuts from private payers.

Ambient Healthcare buys infusion biz of Trinity Care

OCALA, Fla. – Ambient Healthcare has acquired certain assets of home infusion provider Trinity Care Solutions, according to Paragon Ventures. Ambient Healthcare is a growth-oriented, small business with more than 400 employees that has been providing services in Alabama, Florida, Georgia, North Carolina and South Carolina for more than 15 years. Trinity has been providing services in the central Florida area for more than 30 years.

Acelleron buys Maternal Health & Fitness

NORTH ANDOVER, Mass. – Acelleron Medical Products has acquired Maternal Health & Fitness, adding resources for pregnant women and families to its range of products and services. Suzanne Vecchi, former owner of Maternal Health & Fitness, will lead the new division, Acelleron Maternal Health & Wellness. "There is no greater reward than knowing you've made a positive difference in a woman's transition into motherhood as a result of the resources provided from the studio,” said Vecchi. “I am confident being part of the Acelleron team will provide the opportunity to positively impact the journey for many more women and families." Acelleron is a unit of Eatontown-based Preferred Home Health Care & Nursing Services.