The week in acquisitions: GMH buys Dynamic, Drive buys Mountway

HARRISBURG, Pa. - An HME provider in Pennsylvania that aspires to be a "nationally recognized player in the HME space," has been acquired by a private equity group, it announced last week.

Dynamic Healthcare Services (DHS), in partnership with its management team, including founder and president Terry Luft, has been acquired by a subsidiary of Newtown Square, Pa.-based GMH Ventures.

"Having access to GMH's strong balance sheet along with their talented executive management team provides us with additional capital and resources to grow DHS into a nationally recognized player in the HME space," stated Luft, who will stay on as president and CEO of DHS, in a release. "That expansion will allow us to take advantage of growth opportunities we could not have attained prior to this partnership."

DHS was formed in 2000 as the parent company to Central Medical Equipment and ESMS Home Medical, which were incorporated in 1981. It provides home medical equipment, respiratory therapy and complex rehab products and services in the western and central Pennsylvania markets, and employs more than 70.

GMH plans to leverage DHS's regional presence and Luft's experience to expand the company "well beyond its current footprint, leading to untapped fiscal growth and market expansion," stated Michael Holloway, executive vice president of GMH, in the release.

GMH makes long-term investments in middle-market companies in the manufacturing, distribution and services industries that have strong and experienced in-place management, according to the release

Terms of the acquisition were not disclosed.

Drive Medical buys Mountway Holdings

PORT WASHINGTON, N.Y. - Drive Medical announced last week that it has bought Mountway Holdings, a U.K.-based manufacturer and distributor of bathlifts and independent living aids.

"The combination of their innovative design-led philosophy and high value-added products will accelerate Drive's growth in the bath and independent aid product categories in the U.K. market," stated Drive Medical Chairman and CEO Harvey Diamond in a release.

It's the third acquisition for Drive in four months. In October, it announced it bought Inovo/Chad Therapeutics and ActiveCare Medical.

Mountway is known for its Neptune, Aquila and Splash rigid bathlifts; the Serena pillow lift; and the Solo patient toilet lift.

Terms of the acquisition were not disclosed.