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Tag: drive medical


News

In brief: Mum's still the word at CMS, Drive makes buy

January 13, 2017HME News Staff

WASHINGTON - Industry stakeholders were still waiting for word from CMS at press time on Friday on how the agency plans to retroactively delay a second round of reimbursement cuts in non-competitive bidding areas.The recently passed 21st Century Cures Act included a provision to retroactively delay the cuts from July 1, 2016, to Jan. 1, 2017.When CMS had to delay its plans to apply bid pricing to accessories for complex power wheelchairs at the last-minute per a bill signed into law on Dec. 28, the...

Aeroflow, Arriva Medical, BOC, drive medical, Essentially Women, Inogen, PSP Homecare


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Also Noted

Capitala Finance exits investment in Drive Medical

January 6, 2017HME News Staff

CHARLOTTE, N.C. - Capitala Finance Corp. has exited its investment in Medical Depot, doing business as Drive Medical, netting a realized gain of about $5 million with a cumulative cash-on-cash return of 4.7x, it has announced. “Our investment was a great opportunity to work with an excellent management team that was passionate about their mission, fully knowledgeable of their market space and was able to effectively execute multiple, complex, international acquisitions in a short timeframe,”...

drive medical, private equity


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News

In brief: Drive explains sale, ResMed and F&P trade lawsuits

August 19, 2016HME News Staff

PORT WASHINGTON, N.Y. - Drive Medical has sent a letter to its customers in response to reports that private equity firm Clayton, Dubilier & Rice is close to buying the company.Drive Medical, which currently calls private equity firm Ferrer, Freeman & Co. a minority stockholder, seeks additional equity capital to continue its growth strategy, the Aug. 12 letter states.“Given the company's position within the healthcare industry, its prospects, multiple channels of growth and acquisition strategy,...

Domtar, drive medical, Fisher & Paykel Healthcare, Inc. 5000, linde, praxair, ResMed, Rotech


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Vendors

Drive Medical: 'It is business as usual'

August 16, 2016HME News Staff

PORT WASHINGTON, N.Y. - Drive Medical has sent a letter to its customers in response to reports that private equity firm Clayton, Dubilier & Rice is close to buying the company.Drive Medical, which currently calls private equity firm Ferrer, Freeman & Co. a minority stockholder, seeks additional equity capital to continue its growth strategy, the Aug. 12 letter states.“Given the company's position within the healthcare industry, its prospects, multiple channels of growth and acquisition strategy,...

drive medical, ownerships, private equity


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News

In brief: PE firm buys NSM, another firm close to buying Drive

August 12, 2016HME News Staff

FRANKLIN, Tenn. - National Seating & Mobility has entered into a definitive purchase agreement with Court Square Capital Partners, a New York-based private equity firm.Court Square Capital Partners will buy NSM from Wellspring Capital Management, also a New York-based private equity firm, which bought the company in December 2012.“This is an exciting time for NSM and we're very pleased that Court Square is investing in our company,” said CEO Bill Mixon in a press release. “Court...

drive medical, M&A, National Seating & Mobility, private equity


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Vendors

Moneyline: Drive Medical seeks buyer, EZ-Access makes buy

June 3, 2016HME News Staff

PORT WASHINGTON, N.Y. - Drive Medical has hired an investment bank to explore and carry out a potential sale of the company, according to PE Hub.Drive Medical, which is partly owned by the private equity firm Ferrer, Freeman & Co., has hired Robert W. Baird & Co. to explore a sale that could value the company at more than $1 billion with debt, PE Hub reported on June 1.The company generated EBITDA of about $95 million in 12 months, it reported.The sale could take the form of a majority or minority...

drive medical, EZ-access


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Vendors

Drive Medical seeks buyer

June 2, 2016HME News Staff

PORT WASHINGTON, N.Y. - Drive Medical has hired an investment bank to explore and carry out a potential sale of the company, according to PE Hub.Drive Medical, which is partly owned by the private equity firm Ferrer, Freeman & Co., has hired Robert W. Baird & Co. to explore a sale that could value the company at more than $1 billion with debt, PE Hub reported on June 1.The company generated EBITDA of about $95 million in 12 months, it reported.The sale could take the form of a majority or minority...

drive medical, M&A


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Vendors

Reporter's notebook: The year in most read stories

January 22, 2016Liz Beaulieu, Editor

YARMOUTH, Maine - All eyes were on the big guns—Drive Medical, Invacare, Inogen and ResMed—in 2015.Or so it would appear, according to the five most read vendor stories for the year.Drive Medical took the No. 1 spot with its acquisition of DeVilbiss Healthcare. This deal culminated a busy 2015 for Drive: It had already made a handful of other deals throughout the year. With DeVilbiss and some of the other acquisitions it has made in the rehab market, Drive is clearly trying to up its...

drive medical, Inogen, Invacare


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On the Editor's Desk

The year's most read vendor stories

January 6, 2016Liz Beaulieu, Editor

All eyes were on the big guns—Drive Medical, Invacare, Inogen and ResMed—in 2015. Or so it would appear, according to the five most read vendor stories for the year. Drive Medical took the No. 1 spot with its acquisition of DeVilbiss Healthcare. This deal culminated a busy 2015 for Drive: It had already made a handful of other deals throughout the year. With DeVilbiss and some of the other acquisitions it has made in the rehab market, Drive is clearly trying to up its clinical game. That's...

drive medical, Inogen, Invacare, ResMed, top stories


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News

In brief: CMS backpedals on miscellaneous codes, posts DMEPOS data dump

October 9, 2015HME News Staff

BALTIMORE - CMS has scrapped plans to discontinue several codes for miscellaneous DME.In a notice last week, the agency simply stated: “We appreciate the comments received on the proposed coding changes below and will continue to consider the issue further. Additional information will be provided on the status of these coding changes in the future.”The changes were slated to take effect Jan. 1, 2016.In June, CMS proposed replacing HCPC codes E1399 and K0108 with six new codes to reflect...

ARI Network Services, Convaid, drive medical, miscellaneous codes, QS/1


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