Reliable Medical to expand CRT reach, modernize systems with Gauge Capital

NASHVILLE, Tenn. – Reliable Medical’s partnership with Seven Hills Capital helped transform the company into a “super regional,” expanding its reach from a single state to 15 states between 2018 and 2025. Now, with a new investment from Gauge Capital, CEO Charles Sargeant says the company is setting its sights even higher. 

“We have bigger ambitions,” he said. “The goal is to be fully recognized as a national complex rehab technology (CRT) provider. I think there needs to be three or four true national providers for the level of competition needed to properly support the industry.” 

Gauge Capital, a middle‑market private equity firm headquartered in Southlake, Texas, announced in January that it would provide growth capital and complete a recapitalization of Reliable Medical. As part of the deal, David Friedman, Alex Asbill and Alex Amato of Gauge Capital have joined the company’s board of directors. 

Sargeant says acquisitions, combined with organic expansion, will remain a core part of Reliable Medical’s growth strategy under Gauge Capital. Under Seven Hills Capital, the company completed 12 acquisitions and opened 12 de novo locations. 

“We’ll continue to do acquisitions with a focus on getting into new states,” he said. “Acquiring in new states helps ensure we have the payer contracts required to be successful as we continue our expansion.” 

The new investment will also accelerate the rollout of Reliable Medical’s standard mobility division, launched through its 2022 acquisition of Chicago‑based Orbit Medical. Today, those products are offered primarily through locations in the Great Lakes region, but the company plans broader distribution, Sargeant says. 

"We want to work with clients from the earliest possible point,” he said. “We don’t need to wait until they need a Group 3 power wheelchair to be involved in supporting them. The Orbit acquisition taught us that.” 

Additionally, Reliable Medical plans to use Gauge Capital’s support to modernize internal systems, including technology upgrades to streamline qualification, billing and collections, Sargeant says. 

“We want to make sure we’re in the right spot to maximize those when it makes sense,” he said. 

Reliable Medical still operates a home medical equipment (HME) division that provides everything from hospital beds to ventilators. But Sargeant says the company’s core identity has shifted to roughly 75% CRT and 10% standard mobility, with the rest HME. 

“We’ve evolved who we are as an organization from full-scope DME to a team that is primarily focused on CRT and mobility,” he said.