Providers

HOUSTON – Already taxed by the COVID-19 pandemic and equipment shortages, HME providers went to great lengths to continue servicing patients during a devastating ice storm in Texas.  The storm, which brought snow, ice and single-digit temperatures to a state ill equipped for such conditions, knocked power plants offline for lengthy stretches. In some cases, providers were forced to tell vulnerable patients to...

MERION STATION, Pa. – The owner of OxygenWorks, Philomena Baylor, has divested her business to AdaptHealth.  OxygenWorks, based here, is a privately owned, multi-generational company providing a broad spectrum of respiratory equipment and supplies to patients in Pennsylvania, Delaware and New Jersey, according to a press release from the company’s adviser, Central HealthCare Group.  Central HealthCare Group is a Philadelphia-based...

DENVER – Accessible Systems has merged with Ascent Mobility to expand regional home accessibility options. The Lakewood, Colo.-based Ascent Mobility offers stairlifts, wheelchair ramps and lifts, private elevators, overhead ceiling lifts and safety railings. Ascent owner Greg Shepherd will join the leadership team of Accessible Systems, and its team members will continue in their current roles. “Greg and his team really care about their customers and have built a remarkable...

WALTHAM, Mass. – Great Elm Group reported $14.5 million in total revenue for DME for the three months ended Dec. 31, a 1% increase compared to the same period last year.  It reported a net loss of $2.9 million vs. $700,000.  “DME was able to grow revenue during the quarter despite the continued negative impact of COVID-19 on its business,” said Peter Reed, CEO. “Profitability was depressed during the quarter primarily as a result of legacy revenue reserve issues...

PHOENIX – Provider Mark Nicotera says after receiving multiple offers for AZ-MediQuip over the past few years, the time was right to seek outside investment to fuel his retail business. The retail-focused company recently announced it had received funding from Gemini Investors, a private equity firm. It’s a change of pace from other recent deals in the HME industry – including AdaptHealth’s acquisition of AeroCare –...

ASHEVILLE, N.C. – Aeroflow Healthcare has entered into a definitive agreement to buy Wheeling, West Va.-based Family Medical Supply.  Family Medical Supply, founded in 1991, services West Virginia and the greater Ohio Valley with a product portfolio that includes HME and incontinence supplies.  “The acquisition of Family Medical Supply is an exciting step in Aeroflow’s ongoing strategy to grow through acquisition,” said Casey Hite, CEO of Aeroflow....

ELLENSBURG, Wash. – Kittitas Medical Supply has moved into a larger space, reflecting the provider’s growing success since opening in 2016.  The new store, located on the well-traveled main street of this college town, features a 1,500 square-foot showroom, in addition to office space and fitting rooms, says Erik Mickelson, CEO of sister company Howard’s Medical, which has locations in Yakima and Sunnyside, and Howard’s Drug & Medical...

INDIANAPOLIS – Apria Healthcare has announced the launch of its initial public offering of 7.5 million shares of its common stock, with an initial offering price expected to be between $19 - $21 per share. The selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 1.125 million shares of common stock. Apria will not receive any net proceeds from the sale of its common stock by the selling stockholders, including from any exercise by...

CINCINNATI – Protech Home Medical has acquired Mayhugh’s Medical Equipment in Jacksonville, Fla., for $5.8 million.  MME, which has trailing 12-month annual revenues of $7 million and adjusted EBIDTA of $1.2 million, is a respiratory focused provider with more than 10,000 active patients, including 5,000 that Protech can immediately add to its resupply program.  The deal marks Protech’s first foray into Florida.  “MME’s heavily weighted...

CHARLOTTE, N.C. – Provider Andrew Trammell didn’t know all that much about ALS when he met Dave Lloyd at a racing event in 2019 to raise money for the incurable disease, also known as Lou Gehrig’s disease, but he has since helped to raise more than $25,000 for Lloyd’s nonprofit, Racing for ALS, and forged a lifechanging friendship.  “I was admiring their race car, and I did notice they had Racing for ALS on their car and trailer,” said Trammell,...