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In brief: Acquisitions, antibodies, awards 

In brief: Acquisitions, antibodies, awards 

MELVILLE, N.Y. – Henry Schein Inc., a provider of health care solutions to medical and dental offices, has acquired a majority ownership position in Prism Medical Products, a national provider of home medical supplies with a focus in advanced wound care.  

Founded in 2006, the Elkin, N.C.-based Prism Medical has more than 200 employees and 10 fulfillment centers. For the 12 months ended Sept. 30, 2020, it reported revenues of approximately $52 million. 

“Expanding beyond our core base of office-based physicians and entering the home health market has been a long-standing strategic goal of Henry Schein’s medical business, and with Prism we have the ideal partner with a strong brand and a complementary business model,” said Stanley M. Bergman, chairman of the board and CEO of Henry Schein. “This partnership expands Henry Schein Medical’s continuum-of-care delivery model and allows us to move closer and to interact directly with patients. It also strengthens our relationships with the physicians who prescribe home medical supplies.” 

Prism Medical serves a network of nationally affiliated and independently operated wound care clinics, as well as specialist practices and clinics in primary care, ostomy, podiatry, rehabilitation and physical therapy, general and plastic surgery, dermatology, and vascular medicine. 

Prism Medical will operate as a subsidiary of Henry Schein Medical and will be managed separately as an individual division by Chris Cartwright, founder and president of Prism Medical Products. 

Terms of the deal were not disclosed. 

Optum, Change Healthcare join forces to streamline health care 

EDEN PRAIRIE, Minn., and NASHVILLE, Tenn. – Optum, a division of UnitedHealth Group, and Change Healthcare have agreed to merge, combining two technology companies focused on serving health care. 

Optum is a diversified health services company; Change Healthcare is a health care technology provider. Together, they will provide software and data analytics, technology-enabled services and research, advisory and revenue cycle management offerings. 

“Together we will help streamline and inform the vital clinical, administrative and payment processes on which health care providers and payers depend to serve patients,” said Andrew Witty, president of UnitedHealth Group and CEO of Optum. “We’re thrilled to welcome Change Healthcare’s highly skilled team to create a better future for health care.” 

The deal, which calls for the acquisition of Change Healthcare’s common stock for $25.75 per share in cash, is expected to close in the second half of 2021, subject to approval by Change Healthcare shareholders, regulatory approvals and other customary closing conditions. 

Private equity funds affiliated with The Blackstone Group, which own approximately 20% of the common stock of Change Healthcare, have agreed to vote the shares they control in favor of the merger. 

VGM acquires Redstone Content Solutions 

WATERLOO, Iowa – VGM Group has acquired Redstone Content Solutions, a provider of enterprise content management solutions to small and medium-size businesses, and mid-market and enterprise companies. The deal will allow VGM to assist clients in capitalizing on major ECM growth factors: the increasing need to securely organize, categorize and structure all corporate content in a meaningful, easily explorable manner; and the rising demand of companies to deliver personalized content. “We are looking forward to continuing the spectacular service Redstone is known for and help provide the team resources to do even more,” said Jim Nygren, VGM Group CFO. “A common cultural thread between VGM and Redstone is our commitment to our customers, this is and will continue to be our highest priority. Today’s strategic acquisition further equips VGM Group with expanded solution capabilities, partnerships, and scale to serve the needs of a larger portion of the industry landscape.” Founded in 2009, Redstone represents leading software providers like Oracle and DocuSign. The company will continue to operate under its own name and VGM will retain all current employees. 

VGM survey digs into provider costs 

WATERLOO, Iowa ­– VGM has launched the 2021 cost of delivery survey to provide data points for the industry’s efforts to preserve patient access to HME.  

The data points from a similar survey in 2018 were provided to elected officials, payers and regulatory entities, and helped to secure reimbursement relief. 

“We were successful in obtaining some reimbursement relief via a 50/50 blend in our rural areas, and CMS and other payers seemed to acknowledge there would be access issues if HMEs were unable to service patients due to insufficient payment relative to the cost of delivery,” says VGM. 

VGM will not identify or save company information, only service areas. Providers who complete the survey will receive a compilation of responses, as well as an email estimating their total delivery costs. 

The new survey includes a section on the pandemic to indicate additional costs and other burdens brought on by the public health emergency, compared to previous years. 

“As the pandemic continues, HMEs play a critical, frontline role in patient care and minimizing hospitalizations,” says VGM. 

The timing of the survey is important, VGM says, with CMS reviewing comments to a recent proposed rule, and a new administration and newly elected officials taking their place in Washington, D.C. 

Option Care Health, Amedisys offer antibody therapy 

BATON ROUGE, La., and BANNOCKBURN, Ill. – Option Care Health has partnered with Amedisys, a provider of home health, hospice and personal care, to provide COVID antibody infusion therapy in skilled nursing and assisted living facilities. In December, the National Home Infusion Association announced a pilot program with Operation Warp Speed and the Department of Health and Human Services to expand access to Bamlanivimab, which is being used to treat mild to moderate COVID-19 in adults and pediatrics who are at high risk for progressing to severe symptoms or hospitalization. “We are proud to collaborate with Amedisys, a leader in home health and hospice services, along with NHIA and leaders of Operation Warp Speed, to expand access to vital therapies for one of the most vulnerable populations,” said Option Care Health CEO John Rademacher. “Combining the extraordinary capabilities of two industry leaders to solve a critical healthcare challenge is truly humbling.”  

Gov. Cuomo expands COVID vaccine priority to include DME providers 

ALBANY, N.Y. – DME providers in New York who are providing direct, in-person patient care are eligible to receive the COVID-10 vaccine, according to an announcement this week from Gov. Andrew Cuomo, according to a bulletin from NYMEP. “While we're trying to control COVID with one hand, we're trying to defeat it with the other, and the vaccine is the weapon that will win this war," said Cuomo. Industry stakeholders have urged government officials to include DME providers in phase 1 distribution of the vaccine.  

Motion expands to British Columbia 

TORONTO – Motion, a provider of mobility and home accessibility solutions, has acquired British Columbia-based North Coast Home Medical Equipment. The deal complements Motion’s existing coverage of Vancouver Island, Lower Mainland and southern interior B.C. “This is only the beginning of our plan for aggressive growth in the coming year,” said Thecla Sweeney, executive chair and CEO of Motion. “The expansion in British Columbia solidifies our market leadership and reiterates our commitment to offering enhanced and consistent accessibility to clients across the province.” NCHME originally operated as a MEDIchair franchise before transitioning in 2015 to independent ownership. 

Protech announces acquisition in ‘new state’ 

CINCINNATI – Protech has issued a letter of intent to acquire a respiratory company in the southern U.S. that would add $7 million in annual revenues and more than 10,000 active patients to its roster. The target company is more than 85% respiratory and offers a high-touch service model. “The acquisition would give us a foundation to build from in the new state with over 10,000 active patients, and a location near a major metropolitan hub, which we would plan to grow both organically and inorganically over time,” said CEO Greg Crawford. “We remain focused on strategically layering on complimentary respiratory focused businesses to our strong infrastructure where we can quickly deploy our technology driven model to enhance sales, margins, and patient count over time.” Company execs say their acquisition pipeline remains robust. In October, it acquired Georgia-based Sleepwell. 

AdaptHealth offers shares 

PLYMOUTH MEETING, Pa. – AdaptHealth has commenced an underwritten public offering of 7 million shares of its Class A Common Stock, and certain selling stockholders intend to offer and sell an additional 1 million shares of the Company’s Class A Common Stock, subject to market and other conditions. In conjunction with the offering, AdaptHealth intends to grant to the underwriters a 30-day option to purchase up to 1.2 million additional shares of Class A Common Stock. The funds will be used to finance its acquisition of AeroCare Holdings, the closing of which is not dependent on the offering and the offering is not dependent on the closing of the acquisition. AdaptHealth announced late last year that it would acquire AeroCare for $2 billion in cash and shares. 

ACHC educational program receives re-accreditation 

CARY, N.C. - The Accreditation Commission for Health Care’s learning management system, HealthTrainU, was recently awarded a five-year reaccreditation from the International Accreditors for Continuing Education and Training (IACET). To earn this accreditation, organizations undergo a rigorous review process that addresses the design, development, administration and evaluation of programs. HealthTrainU offers more than 300 courses through 20 content libraries. “HealthTrainU is designed to provide organizations small and large with a one-stop, virtual resource for education and compliance,” said Greg Stowell, associate director for education and training at ACHCU, the educational resources arm of ACHC. “With its customizable features and ability to upload proprietary content, this flexible management tool makes it easy for organizations to assign, administer and track their employees’ training and education progress.” 

AZ MediQuip secures PE funding 

PHOENIX – AZ MediQuip has received funding from private equity partner Gemini Investors to open new stores across the Southwest and make strategic acquisitions. 

Mark Nicotera, who started AZ MediQuip in 2011 and has grown the company to four locations in the Phoenix area, will remain CEO. 

“When I started this business, there was a deep need for not just a business to sell HME products, but to also offer complete home medical solutions,” he said. “Our staff has grown with the business and we’ve become a trusted partner to and resource for referral sources and individuals who are going through a challenging stage of their lives.” 

Gemini sought a platform in the HME industry and was impressed with AZ MediQuip’s business model and growth, a representative from the firm said. 

“They solve a big problem in the Phoenix area with their product and service offerings and have improved the health and wellbeing of the region’s population, especially during the COVID-19 epidemic,” the representative said. “We cannot wait to grow and improve upon Mark’s mission of offering Arizona residents the most high-quality health care solutions at an affordable price, especially now.” 

Rehab Medical Supply, OMS Rehab merge 

OKLAHOMA CITY, Okla. – Rehab Medical Supply and OMS Rehab are merging to form Direct Medical Supply. 

“We are very excited to join two highly synergistic companies to enable Direct Medical Supply to execute on our unique strategy and next phase of our growth commitment to patients and employees,” said Tri Van Le, president of Direct Medical Supply. “This also allows both companies to add strategic and operational value.” 

Rehab Medical Supply, founded in 1985, is a national medical supplier headquartered here. OMS Rehab is a supplier of orthotic devices and therapeutic modality programs based in Kansas City. 

OMS Rehab was acquired by Rehab Medical in 2019. Rehab Medical acquired Family Medical Supply in 2018 and rebranded it to Rehab Medical Supply the following year. 

F&P Healthcare wins ‘people’s choice’ award 

AUCKLAND, New Zealand – Fisher & Paykel Healthcare was honored to win a Zenith Award from the American Association for Respiratory Care for the sixth year in a row. The Zenith Awards are considered the “people’s choice” awards of the respiratory care profession, because its recipients are chosen by more than 47,000 respiratory therapists. “We’d like to thank the thousands of respiratory care professionals who are caring for patients during the COVID-19 pandemic this year,” said Justin Callahan, president of North America Operations. “The work of respiratory therapists has never been more critical or more challenging, and we are delighted to be recognized again this year for providing them with education and support.” Criteria for the award include quality of equipment, supplies or services; accessibility and helpfulness of sales personnel; responsiveness; service record; truth in advertising; and support of the respiratory care profession. The award was announced recently during a virtual event that was part of the AARC’s 66th International Respiratory Congress. 

Wound Pros seeks to develop new markets  

LOS ANGELES – The Wound Pros, an accredited supplier of DMEPOS and a specialist in the treatment and management of chronic non-healing wounds, has named Daniel Yeager as its new senior vice president of market development. Yeager, who has nearly 10 years of experience, will focus on continuing to grow and refine the company’s market expansion and business strategies. The announcement capped a busy 2020 for Wound Pros – the company expanded operations into 16 states; introduced RITA, an AI-enabled wound measurement app for assessing a patient’s wounds at the bedside or remotely and generating relevant documentation; and developed a camera-based health and wellness monitoring app for tracking variations in vital signs. Yeager graduated with honors from Capella University, earning a bachelor’s degree in business administration. 

People news: Doug Harper, Mickae Lee, Claudia Rimerman Kraut 

Doug Harper has joined the board of directors of ABM Respiratory Care, a medical device company focused on developing integrated clearance and ventilation systems. Harper brings decades of experience in health care to ABM, and his counsel and expertise will help the company commercialize its respiratory solutions…Mickae Lee has been promoted to associate director of NCART. She has served as director of advocacy and communication for the past five years. Her responsibilities have included a wide variety of projects, and her knowledge and experience in the complex rehab industry have supported multiple initiatives over the years...Claudia Rimerman Kraut has been named vice president of broker and consultant partnerships at DarioHealth. Kraut brings a strong combination of benefits, partnerships and digital health experience to the role, most recently as director of alliances at Omada Health. 

Numotion builds supplies business 

BRENTWOOD, Tenn. – Numotion has acquired Wheeler’s Medical Supply, a Jacksonville, Fla.-based provider of intermittent catheters and incontinence supplies. 

The acquisition expands Numotion’s existing medical supplies business, which provides catheters, incontinence, ostomy and advanced wound care products. 

“Growing Numotion’s medical supplies offering with the addition of the Wheeler’s team enables Numotion to more comprehensively serve the needs of an expanded customer base and allows us to continue to empower people to actively participate in everyday life,” said Mike Swinford, Numotion’s CEO. “Wheeler’s has a track record of exceptional customer service and our goals in serving customers align in a way that makes this acquisition a natural step on our path to serving the needs of more customers.” 

Wheeler’s branch in Jacksonville will be Numotion’s sixth in Florida. Wheeler’s also has a presence in Georgia. 

F&P Healthcare named ‘standout winner’ 

AUCKLAND, New Zealand – Fisher & Paykel Healthcare was named Company of the Year and its CEO Lewis Gradon was named Chief Executive of the Year in the Deloitte Top 200 Awards sponsored by Deloitte, the New Zealand Herald and New Zealand Media and Entertainment. Judging for the Company of the Year award included the latest financial measures, organizational performance, corporate reputation and approach to environmental management. Judges recognized F&P for its response to the COVID-19 pandemic, including its efforts to ramp up production quickly to meet external demand and deliver products to the market at a crucial time. The company’s respiratory products and therapies, like the Optiflow nasal high flow therapy, have played a key role worldwide during the pandemic. Judges also complimented Gradon’s leadership during the pandemic and the overall stability of the company’s management team. “Fisher & Paykel Healthcare’s ongoing investment in innovation and development of leading products underpins its success,” said judge Neil Paviour-Smith, management director of Forsyth Barr. “Overlaid with a well-regarded ad high-performing management team, it is the standout winner this year.” 

NSM taps Rick Nori to grow Canadian business 

NASHVILLE, Tenn. – National Seating & Mobility has selected Rick Nori as its regional area director of Canada. Nori is the former vice president and general manager of Ki Mobility Canada, a key vendor partner of NSM’s. “Rick is a well-respected industry veteran who will be a key contributor to shaping the future of our growing Canada business,” said Bill Mixon, CEO. “We are grateful for Ki Mobility’s accommodation during this transition and look forward to supporting Rick in his efforts to oversee and amplify NSM’s presence throughout Canada.” Nori has 32 years of experience in complex rehab and HME in sales and senior management positions. As regional area director, he will lead branch operations throughout Canada. He replaces Darryl Mackie, who is retiring at the end of January. NSM first entered the Canadian market in 2019 when it acquired SelfCare Home Health Products in Vancouver and Advanced Mobility Products in Burnaby. 

BOC announces new leadership 

OWINGS MILLS, Md. – The BOC board of directors has announced its 2021 executive committee and elected a new board member. The executive committee officers are L. Bradley Watson, president of Clarksville Limb + Brace + Rehab, as chairman; Abel Guevara, COO and corporate compliance officer at New Way Medical Supply as vice chairman; David Regier, consultant, as secretary; Cameron Stewart, co-founder of Alcam Medical Orthotics and Prosthetics, treasurer; Diana Klunk, certified mastectomy fitter at The Perfect Match Boutique, member at large; and Wayne Rosen, clinical consultant, as immediate past chairman. The new board member is Angela Smalley, a project leader for product evaluation in the commercialization services division at Simbex. 


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