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Tag: Rick Glass


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Buckle up, 2018 is going to be 'huge' for M&A, analysts say

January 19, 2018Theresa Flaherty, Managing Editor

YARMOUTH, Maine - Expect to see large regional HME players get bigger in the year ahead as they look to increase their market share, say M&A analysts.“These regionals are really looking to grow their territory,” said Brad Smith, managing director/partner at Vertess. “I think 2018 is going to be a huge year.”And that's building on a strong 2017. In the third quarter of last year, 18 transactions were completed in the HME sector, the highest since 2014, according to The Braff...

Brad Smith, mergers & acquisitions, Patrick Clifford, Rick Glass, The Braff Group, Vertess


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Uncertainty kills Teijin's bid for US HME market

May 12, 2017Theresa Flaherty, Managing Editor

YARMOUTH, Maine - Teijin Limited's recent announcement that it was exiting the U.S. homecare market is a textbook example of the cooling off of a once red-hot market, say industry analysts.“We've seen these guys coming in and going out like a revolving door,” said Rick Glass, president of Steven Richards & Associates. “The U.S. is such a big market that it looks desirable to these overseas players and then they get in here and find out it's a little more complicated than that.”Teijin...

Brad Smith, Braden Partners, pacific pulmonary, Rick Glass, teijin, Vertess


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M&A: Buyer appetite for HME improves

April 21, 2017Theresa Flaherty, Managing Editor

YARMOUTH, Maine - After a slow first quarter, buyer appetites for HME businesses are picking up, say M&A analysts.“There's still more sellers than buyers, but transactions are getting done,” said Rick Glass, president of Steven Richards & Associates. “I think we are bottoming out on the reimbursement, and we're slowly starting to get some appetite even in the traditional HME and respiratory space.”While reimbursement remains dire, the business-friendly new administration,...

Brad Smith, Don Davis, Duckridge Advisors, M&A, Pat Clifford, Rick Glass, Steven Richards & Associates, The Braff Group, Vertess


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Coloplast deal signals larger trend

December 9, 2016Theresa Flaherty, Managing Editor

MINNEAPOLIS - Coloplast's willingness to pay an eye-popping $160 million for Comfort Medical points to the attractiveness of the disposable medical supplies market, say analysts.“Urologicals and catheters, in particular, check so many lists,” said Brad Smith, managing partner at Vertess, a Tucson, Ariz.-based M&A advisory firm. “It's disposable, it's ordered monthly, it has good reimbursement, and you can drop ship what you need so there's little infrastructure or overhead needed.”Coloplast,...

Brad Smith, Coloplast, Comfort Medical, disposable medical supplies, Rick Glass, Vertess


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M&A: Are supplies a sleeper category?

December 23, 2014Theresa Flaherty, Managing Editor

When Liberty Medical drew 33 bidders to a sale of its assets in November, no one was more surprised than industry analysts.“I didn't realize there were that many folks capable of coming up with bids for that business,” said Don Davis, president of Duckridge Advisors.But does the interest in Liberty signal that the mail-order supplies category is going to be the next big thing for buyers in the HME space?That depends who you ask.“Absolutely. The urological space is among the most...

Don Davis, Rick Glass


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Rotech ready to expand

December 19, 2014Theresa Flaherty, Managing Editor

ORLANDO, Fla. - Rotech Healthcare last week announced its first acquisition in several years and the company has indicated that's only the beginning.“Rotech is looking to leverage its platform to expand its presence in existing and new markets,” said CEO Tim Pigg in a release. “Unlike many of our smaller distressed competitors, we have the staying power to ride the current market difficulties and capital available to invest in our core products.”Rotech acquired “certain...

AeroCare, Don Davis, Rick Glass, Rotech, Tim Pigg


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Merger casts 'positive' light on industry

October 17, 2014Theresa Flaherty, Managing Editor

ORLANDO - News of a merger between AeroCare and MergeWorthRx put a spring into the step of HME industry analysts.“This a positive sign for the industry,” said Rick Glass, president of Steven Richards & Associates.In the Oct. 15 announcement, AeroCare, which has been backed by private equity firm Ferrer Freeman & Company since its inception in 2002, and MergeWorthRx, a special purpose acquisition company with a healthcare focus, said they have agreed to an all-stock merger. MergeWorthRx...

AeroCare, Don Davis, MergeWorthRx, Rick Glass


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Audit uncertainty drags on deals

April 11, 2014Theresa Flaherty, Managing Editor

YARMOUTH, Maine - It was a slow first quarter for mergers and acquisitions, say industry analysts.“It's been disappointing so far,” said Rick Glass, president of Steven Richards & Associates. “I had anticipated a pickup in acquisitions with most of the uncertainty around Round 2 bid pricing going away.”But it appears competitive bidding has been replaced by another concern: audits.“Audits are a drag on the whole system,” said Glass. “It's hard to get buyers...

Don Davis, Duckridge Advisors, Patrick Clifford, Rick Glass, Steven Richards & Associates, The Braff Group


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It's still a buyer's market, analysts say

January 10, 2014Theresa Flaherty, Managing Editor

YARMOUTH, Maine - Competitive bidding drove acquisition activity in 2013 and analysts say it will power decisions in the year ahead.“It's all about the contracts and who wants what and when,” said Don Davis, president of Duckridge Advisors. “I really anticipate a year of consolidation with corporate entities buying family entities.”That means, while the big get bigger, the industry is rapidly shedding mom-and-pops, say analysts.Contract holders fare slightly better when it...

Bruce Burns, competitive bidding, contracts, Don Davis, Jonathan Sadock, Patrick Clifford, reimbursement, Rick Glass


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Apria ready for new 'world,' analysts say

December 6, 2013Theresa Flaherty, Managing Editor

LAKE FOREST, Calif. - Apria Healthcare has repositioned itself as a respiratory-focused company with the sale of its home infusion business, Coram, to CVS Caremark, analysts say.“My guess is that they perceive themselves as pretty well-positioned for a world of lower reimbursements and fewer competitors,” said Rick Glass, president of Steven Richards & Associates. “They have scale and run an efficient business.”The $2.1 billion deal, announced Nov. 27, allows Apria to reduce...

apria, competitive bidding, Coram, Jonathan Sadock, Rick Glass


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