Tag: M&A

WALTHAM, Mass. – Great Elm Group’s DME operating companies reported $16.5 million in total revenue for the three months ended June 30, 2022, compared to $14.5 million for the same period the previous year.  The increase in revenue was primarily attributable to more favorable intake and collections processes driving lower revenue reserve rates.  DME recognized a net loss of $200,000 for the fourth quarter of FY 2022 compared to net income of $5.9 million for the same period...

MARTINSRIED and LEIPZIG, Germany – ResMed has acquired Leipzig, Germany-based mementor in a move that strengthens its overall sleep portfolio with a digital solution for insomnia, the company says.  mementor developed and owns somnio, Germany’s first, and so far only, Digital Health Application (DiGA) for the treatment of insomnia that’s reimbursable.  “mementor is an ideal fit for ResMed Germany and, more important, millions of people across Germany who want...

SAN DIEGO – Lifeway Mobility is expanding its coverage in southern California with a new location in San Diego. The company will offer stair lifts, wheelchair ramps and a variety of basic transfer aid solutions to those living in San Diego County. “We are excited to be expanding the West Region coverage in the state of California and the opportunity to be of greater service to a growing population of residents with their aging-in-place needs,” said Luis Mendoza, California general...

AUSTIN, Texas – Hanger, a national provider of O&P, has entered into an agreement to be acquired by Patient Square Capital, a dedicated health care investment firm, for approximately $1.25 billion.  Under the terms of the agreement, Hanger stockholders will receive $18.75 in cash per share, representing an approximate 29% premium to the 30-calendar day volume-weighted average price (VWAP) ending July 20, 2022. Upon completion of the transaction, Hanger will become a privately held company...

KANSAS CITY – Lifeway Mobility has acquired Health & Comfort Equipment Service in Kansas City, allowing the company to further expand its offerings throughout Kansas and provide services in Missouri.  Health & Comfort has more than 30 years of experience in the home accessibility industry in the Kansas City metro area providing stair lifts, ramps and other solutions.  “I am very excited to expand our offerings for home access by joining forces with Lifeway Mobility,”...

FORT WORTH, Texas – Vertess has promoted three managing directors to partner: Rachel Boynton, Anna Elliott and Robert Villalobos. Boynton joined VERTESS in 2018 as a managing director providing M&A advisory and consulting services to the intellectual and developmental disability (I/DD), behavioral health and related health care markets. Elliott, who joined the firm earlier this year, has experience in high-growth, health care technologies, including artificial intelligence and machine...

CINCINNATI – Quipt Home Medical has acquired Hometown Medical, a respiratory focused company in Mississippi reporting unaudited trailing 12-month annual revenues of about $7 million and anticipated EBITDA of $1.4 million post-integration.  Hometown Medical, which has two locations in Mississippi, doubles Quipt’s presence in the state. It adds more than 1,000 referring physicians, bringing its total to more than 21,600; and 11,000 active patients, bringing its total to more than...

Coming off a “crazy” year of dealmaking in 2021, the first quarter of 2022 was bound to be slower, driven in part by larger world issues like inflation and the war in Ukraine, says Brad Smith, managing director and partner at Vertess.  But deals are still getting done, as interest remains high in HME from both strategic players and institutional buyers, he said.  “There are fewer headwinds than previous years,” he said. “There’s more certainty and...

CINCINNATI – Quipt Home Medical has acquired Access Respiratory Homecare, a Louisiana-based provider with unaudited trailing 12-month annual revenues of about $6.5 million and anticipated adjusted EBITDA of $1.3 million post-integration.  With Access Respiratory’s two locations in Louisiana, Quipt gains access to the large market of New Orleans, as well as Lafayette and surrounding areas.  “We are extremely excited to close the acquisition of Access Respiratory Homecare,...

SAN DIEGO – ResMed has taken a big step toward becoming a global software-as-a-service provider with its planned acquisition of Hildesheim, Germany-based MEDIFOX DAN for $1 billion.  The company has been active in consolidating the SaaS market in the U.S., acquiring Brightree in 2016 and MatrixCare in 2018, among others, but this is its first acquisition in the market outside of the country.  “We’ve had many questions from both the sell side and the...