Tag: Medical Depot
Drive DeVilbiss struggles with $600M in debt
September 6, 2019HME News Staff
PORT WASHINGTON, N.Y. - Medical Depot, which operates as Drive DeVilbiss Healthcare, has begun restructuring talks with its senior lenders, the Wall Street Journal has reported. In a bid to avoid filing for bankruptcy, a group of lenders and advisors is trying to reach an out-of-court deal to restructure $600 million in debt, according to the newspaper. Lenders recently signed a nondisclosure agreement to access privileged information about the company, it has reported.The advisors include the law...
In brief: Investor buys Permobil, Drive responds to lawsuit
April 5, 2013HME News Staff
STOCKHOLM, Sweden - Permobil, a manufacturer of high-end power wheelchairs, has been acquired by Investor AB, a Swedish investment firm. Private equity firm Nordic Capital agreed to sell Permobil for $842.3 million. Under Nordic's wing, the company's sales have nearly doubled, according to reports. Last year, Permobil, which operates in 30 countries, generated revenue of about $246.3 million. The company's annual sales growth over the past decade has averaged 8%, according to reports....
Drive Medical suspends sale of certain CPAP masks
April 3, 2013HME News Staff
PORT WASHINGTON, N.Y. - In light of a lawsuit filed by ResMed, Drive Medical has suspended the sale and marketing of several of its CPAP masks, the company has announced. In March, ResMed filed parallel legal actions in the International Trade Commission (ITC) and U.S. federal court, alleging that its patents are being infringed by Apex Medical and its U.S. distributor, Medical Depot, doing business as Drive Medical. Drive Medical will offer substitute products to its customer base while it...