Drive expands presence in Europe
By HME News Staff
Updated Tue May 20, 2014
PORT WASHINGTON, N.Y. - Drive Medical has acquired several product lines from Days Healthcare, a U.K.-based manufacturer.
The deal will expand Drive's European presence, says Drive Chairman and CEO Harvey Diamond.
“Not only does this acquisition expand our growing presence in the European marketplace and enhance our position as a global manufacturer and distributor of durable medical equipment, it also provides increased manufacturing capacity and more diversified design and technology capabilities in Europe,” he said in a May 19 release.
The product lines include homecare and long-term care beds, scooters, wheelchairs, riser recliner products and other items. Brands include Casa (beds and hoists), ST (scooters), Seren, Volt and Multego (powered wheelchairs) and Serena (riser recliner chairs).
“We are excited to add the Days Healthcare product lines to the Drive family of products,” said Richard McGleenan, Managing Director of Drive U.K. “This acquisition increases our presence in the mobility sector while adding new products and technologies to our existing product offering.”
In October, Drive secured $115 million in financing from GE Capital, Healthcare Financial Services. The loan was obtained with an eye to supporting ongoing capital and growth needs, including acquisitions.
Drive also acquired the manufacturing and distribution facility in Bridgend, Wales.
Terms of the deal were not disclosed.
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