Great Elm Healthcare expands Midwestern footprint
By HME News Staff
Updated 10:03 AM CST, Wed March 3, 2021
WALTHAM, Mass. – Focus Respiratory, a subsidiary of Great Elm Healthcare, has acquired Advanced Medical DME and PM Sleep Lab, adding a combined $5 million in unaudited revenues and 2,500 patients to its roster.
The acquisition of these companies expands Great Elm Healthcare’s footprint in the Midwest, adding six locations in Kansas and three in Missouri, its first in the state.
“The acquisitions of Advanced Medical DME, LLC and PM Sleep Lab, LLC fit our strategy of pursuing tuck-in acquisitions of respiratory focused companies that expand and enhance our geographic footprint, as we seek to gain scale and increase operating leverage in areas where we have an existing presence,” said Peter Reed, CEO of Great Elm Group Inc., parent company of Great Elm Healthcare. “We were attracted to the companies’ patient-centered philosophy and their talented managers and staff. We welcome these new patients and employees to the Great Elm Healthcare family and look forward to extending our offerings throughout Kansas and Missouri.”
In December, Great Elm Capital announced it had received a preferred equity investment of $37.7 million from an affiliate of JPMorgan Chase & Co., to refinance Great Elm’s DME business and to provide the business with growth capital.
Great Elm Group recently reported $14.5 million in total revenue for DME for the three months ended Dec. 31.
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