Advent acquires Aeratech

CHICAGO – Advent Home Medical, a portfolio company of New Harbor, has acquired Aeratech Home Medical, a provider of home respiratory care and respiratory equipment technology.  

Aeratech was founded in 1999 by Roy Neely, a respiratory therapist who wanted to reduce prolonged hospital stays for patients with complex respiratory conditions. Today, it serves approximately 1,000 patients through nine offices across Ohio and Indiana.  

“This partnership is a perfect fit,” said Rob Hensley, CEO of Advent. “Aeratech’s commitment to patient care and focus on high-tech respiratory home care are perfectly aligned with Advent and Life Tech. We plan to continue to expand into new geographies, and we were able to quickly enter these contiguous states with this acquisition.” 

Aeratech marks Advent’s second acquisition in partnership with New Harbor, which completed a majority equity investment in Advent in March 2021. Earlier this year, Advent acquired LifeTech. 

The partnership with Aeratech meaningfully advances the goal of both businesses to provide the highest quality home health care to more patients across the Midwest and beyond.   

“We are thrilled to join the Advent team,” Neely said. “This partnership will help us spread our mission of helping even more respiratory care patients receive expert care in their homes.”  

McDermott, Will & Emery LLP, and RSM US LLP provided counsel and advice to New Harbor Capital and Advent. Hahn Loeser & Parks LLP served as counsel, and Signet Capital Advisors LLC acted as advisors to Aeratech on the transaction. Maranon Capital, L.P., provided financing support and was advised by Katten Muchin Rosenman LLP.