Rhône in talks to buy, combine Invacare Holdings & Direct Healthcare Group 

LONDON – Investment vehicles affiliated with Rhône, a transatlantic, middle-market private equity firm, have entered exclusive discussions to acquire a majority shareholding in both Invacare Holdings and Direct Healthcare Group (DHG). The two companies have complementary capabilities and products lines in the design, manufacture and distribution of medical devices that support an individual’s mobility, safety and care. 

“We are thrilled with this proposed combination and new chapter for Invacare,” said Geoffrey Purtill, president and CEO of Invacare Holdings Corporation. “Rhône’s investment and commitment to Invacare and our growth plan would enable us to further innovate and deliver high quality products to continue our mission of Making Life’s Experiences Possible.” 

Following the completion of the transaction, Rhône would hold a majority shareholding in the combined business. DHG’s previous private equity backer, ARCHIMED, will retain a minority interest. Additional financial terms of the transaction have not been disclosed. 

As a result of the transaction, customers and end-users across Europe will benefit from broader access to a comprehensive, high-quality product offering, combining Invacare’s strengths in manual and powered wheelchairs, including complex rehabilitation needs, with DHG’s expertise in pressure care and safe patient handling solutions. Rhône intends to support continued investment in product development, research and operational capabilities to drive growth. 

“Rhône is pleased to partner with Invacare, DHG, and ARCHIMED in this next phase of growth,” said Patrick Mundt, managing director at Rhône. “Both Invacare and DHG have a differentiated approach as an innovator in their distinctive product categories and in the geographies in which they serve their customers.” 

The transaction would occur after completion of consultation with the Works Council at Invacare France Operations SAS and Invacare Poirier, as well as satisfactory clearance from relevant competition and regulatory authorities. 

Invacare Holdings sold its North America business to MIGA Holdings in 2024. 

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