Tag: Vertess

YARMOUTH, Maine – The theme for buyers and sellers in 2021 is “respiratory, respiratory, respiratory,” said Don Davis, president of Duckridge Advisors.  Helping to drive that trend: AdaptHealth, which capped off a busy 2020 by announcing in December that it would acquire AeroCare, which specializes in CPAP, nebulizers, oxygen and ventilators, for nearly $2 billion in cash and shares.  “It’s perfect iteming – the demographics are there,...

FORT WORTH, Texas - Despite the challenges of 2020 and the havoc the COVID-19 pandemic has brought to bear on the economy, Brad Smith is bullish on the M&A market for HME. Vertess closed on four deals in the second and third quarters, and is teed up for an even busier Q4 and beyond. “The strategic buyers are extremely active,” said Smith, managing director/partner at the firm. “There are also buyers outside the industry that aren't strategic coming in, buying into health care and...

FORTH WORTH, Texas - Vertess has closed on four DME transactions in the second and third quarters, despite the challenges brought on by the COVID-19 pandemic.“Even in the face of adversity that is 2020, I am thrilled to have helped deserving owners successfully exit their businesses, while also helping bridge the gap for these health care providers to extend their established platforms,” said Bradley Smith, managing director.The transactions are:Med Inc., a Virginia-based respiratory...

YARMOUTH, Maine - After briefly hitting the pause button in March when “the world turned upside down,” buyers and sellers are back at the table, say M&A analysts.While the HME industry certainly took a few hits, unlike the restaurant and hospitality sectors, for example, it proved much more resilient in the face of a public health emergency, says Pat Clifford, managing director, home medical equipment, for The Braff Group.“DME is part of the solution for COVID,” he said. “Once...

I caught up with Brad Smith, managing director and partner at Vertess, recently and he said the mergers and acquisition market for HME has been “a wild rollercoaster ride” amid the coronavirus pandemic. First, investors and buyers charged ahead, then they paused and then they stopped, he says. But by the end of April, Smith had a handful of deals scheduled to close in May. Investors and buyers were charging ahead again, with the pandemic as “the new normal.” “They like...

ELYRIA, Ohio - Invacare reported net sales of $218.4 million in the first quarter, a 2.2% decrease compared to the same period last year.It reported $87 million in net sales for North America, specifically, about a 1% increase, driven by increased respiratory and mobility and seating product sales.The company saw a 4% increase in mobility and seating product sales, driven by a 16% increase in power wheelchairs and offset by a decline in manual mobility product sales. Gross profit was $63 million...

FORT WORTH, Texas - Vertess has hired Chris Nielson as a managing director. Neil, formerly a managing partner at Four Capital, is an experienced advisor in the durable medical equipment and home health space. “After talking with Chris about his background and goals, it was clear we shared a common desire to provide knowledgeable and ethical advice to our clients,” said Brad Smith, managing director/partner at Vertess. Vertess' expertise includes DME, pharmacies, home care, hospice and...

YARMOUTH, Maine - Building on a handful of notable deals in late 2019, M&A analysts say they expect a strong 2020—at least to start.Among the most active in 2019 was AdaptHealth, which in the fourth quarter bought several sizable companies, including McKesson's Patient Care Solutions business, and became a public company.“There is money flowing and deals—good deals—are getting done,” said Don Davis, president of Duckridge Advisors. “I think the buyers are...

PLYMOUTH MEETING, Pa. ­-­ When AdaptHealth goes public later this year, other large players in the industry may consider doing the same, says Brad Smith, managing director/partner at Vertess.“If AdaptHealth gets out of the gate and does well, will these other guys say, 'Let's follow suit,'” he said. “AeroCare, Rotech, maybe even Apria and other players who aren't as big (will be watching).”AdaptHealth first announced in July that it would combine with DFB Healthcare Acquisitions...

When AdaptHealth's plan to become a public company was announced in July, ears perked up throughout the HME industry. New IPO listings by DME providers are rare. That could change following Adapt's IPO. To recap, Adapt will combine with DFB Healthcare Acquisitions Corp., which is currently traded on the NASDAQ under symbols DFBH and DFBHW. Once the combination of companies is completed, it is expected that DFB will change its name to AdaptHealth Holding Corp. and remain listed on the NASDAQ under...