Tag: AdaptHealth

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...

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....

CHICAGO - With the diabetes management industry growing by leaps and bounds, Frank Brumfield, CEO and owner of FSB Companies, a private investment firm, knew it was time to sell Pinnacle Medical Solutions, a company he’s been involved with since 2006.  “We’re excited to plug in the patient-focus model that The FSB Companies and the Pinnacle management team had built over the years into a much broader platform,” he said. “We wanted to be able to continue...

PLYMOUTH MEETING, Pa. – AdaptHealth has launched a $500 million offering of aggregate principal amount of senior notes due 2029.  The gross proceeds from the offering will be deposited into a segregated escrow account pending completion of the company’s previously announced acquisition of AeroCare Holdings. At the closing of the acquisition, the net proceeds from the offering will be released from escrow and, together with term loan borrowings and cash...

ORLANDO, Fla. - Steve Griggs has been in the HME industry since 1988, first serving as president of Rotech, then launching AeroCare in 2000. Two decades on, he has grown that business to 300 locations and has sold it to AdaptHealth for about $2 billion.  Griggs credits the company’s employees and its willingness to embrace technology for his success.  “Any company that has...

PLYMOUTH MEETING, Pa. - After operating on parallel acquisition tracks for the past few years, AdaptHealth will acquire AeroCare Holdings for $1.1 billion in cash and 31 million shares, for a total purchase price of about $2 billion, in the biggest deal in HME in years. Both companies have made acquisitions a cornerstone of their growth plans: Since 2017, AdaptHealth has closed 64 transactions; AeroCare has closed 50. Since its inception, AeroCare has closed a total of 155 transactions, building...

CHICAGO - FSB Companies has sold its portfolio company Pinnacle Medical Solutions, a provider of diabetes management supplies, to AdaptHealth. Pinnacle, which will continue to operate under its current name and location in Southaven, Miss., primarily serves patients in the Southeast, offering CGMs, insulin pumps and other diabetic supplies. “It was an honor to be part of the Pinnacle team and build something special,” said Frank Brumfield, CEO and owner of FSB. “The Pinnacle-FSB...

ST. PAUL, Minn. - Allina Health is selling its HME division to AdaptHealth, according to ABC Newspapers. The purchase includes Allina's Home Oxygen & Medical Equipment Division, also known as HOME. “We are extremely proud of the work and commitment of our Home Oxygen & Medical Equipment staff,” said Lisa Shannon, president and COO of Allina Health. “We are excited about AdaptHealth's deep industry expertise and resources to grow and invest in the division.” HOME has a showroom...

PLYMOUTH MEETING, Pa. - AdaptHealth has entered into a definitive agreement to buy Orlando, Fla.-based AeroCare Holdings for $2 billion. The total purchase price is comprised of $1.1 billion in cash and 31 million shares of AdaptHealth. “Our combined company will further enhance our geographic reach with a footprint in 47 of the 48 continental U.S. states, strengthening relationships with our referral partners, patients, manufacturers and managed health care plans,” said Luke...

PLYMOUTH MEETING, Pa. - The diabetes market is a “high priority” for AdaptHealth as it seeks both strategic and organic growth, say company officials. The company, which closed on Solara Medical Supplies in July, acquired several additional supply and home medical businesses in the third quarter, most recently Pinnacle Medical Solutions, a provider of diabetes supplies, including continuous glucose monitors and insulin pumps, on Oct. 1. “We like the landscape in diabetes,”...