Tag: Mergers and acquisitions

YARMOUTH, Maine - The majority of respondents to a recent HME Newspoll (67%) agree that 2018 will be a “hot” year for mergers and acquisitions in the HME industry.But the drivers of that activity are representative of an industry in distress, especially for smaller providers, respondents say.“With the huge vendor pricing difference for mom-and-pop providers vs. nationals and the low reimbursement rates, there will be little choice for 'hometown' DMEs but to sell,”...

Q. Do my financial books really matter to a buyer? Won't the buyer just produce their own set of financials?A. The quality of your financials is so important. For most businesses, financials are the first thing potential buyers look at after a thumbnail outline of the nature of the business and whether or not it is a going concern. If your results are poor, that is one matter, but often the bigger issue is whether or not the results make sense from the financials that are presented.Your financials...

FRESNO, Calif. - Equistone Partners has put Sunrise Medical up for sale.The European-based investment firm is considering offers from IK Investment Partners and Nordic Capital in a potential $507 million deal, according to Reuters.Equistone Partners, which is owned and managed by the former executives of Barclays Private Equity, is also considering an offer from “a family office,” a vehicle handling the assets of a wealthy family, the news agency reports.Equistone Partners is asking potential...

AMARILLO, Texas - BritKare Home Medical has acquired Pillar Equipment Services, a diversified DME business based in Lubbock, Texas. The acquisition gives BritKare, which has been serving the Texas Panhandle region since 1995, three locations in Northwest Texas. “The acquisition of Pillar gives us expanded regional capability to continue providing exceptional service to our patients and referral sources in the Texas Panhandle,” stated Josh Britten, president of BritKare, in a press release....

CLEARWATER, Fla. - Lincare has bought the DME business of Stevens Point, Wis.-based Ministry Health Care, according to news reports. Ministry Health Care is a mission-driven, integrated healthcare system of clinics and hospitals, primary care and specialty care physicians, home care and related services in Wisconsin and Minnesota, according to its website. Lincare already operates 10 locations in the state. It plans to continue to offer products and services at Ministry Health Care's locations in...

YARMOUTH, Maine - M&A activity picked up a bit in the second quarter as the HME industry reshapes itself into a more and more segmented market, say analysts.“The respiratory guys want respiratory, but they don't want the low-end DME products,” said Don Davis, president of Duckridge Advisors. “They'll take them, but they aren't paying for them.”The “hot” segments currently being targeted: oxygen and sleep therapy, and supplies, said Rick Glass, president of Steven...

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...

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...

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.

WASHINGTON - The DME MACs have issued clarifying guidance on written order prior to delivery (WOPD) document corrections and proof of delivery (POD) requirements. For WOPD, if errors are found before delivery, suppliers may amend the WOPD or create a new one to send to the physician for signature and date, the MACs say. If an error is discovered prior to claim submission, the original supplier may recover the item(s); obtain a compliant, complete WOPD; and re-deliver the item. If an error is found...