LifeWay Mobility gets PE boost
By HME News Staff
Updated 9:20 AM CDT, Thu July 1, 2021
HARTFORD, Conn. – Lifeway Mobility has received a “significant” investment from Cressey & Company, a health care focused private equity firm.
“Welcoming Cressey & Company is especially exciting and gratifying for me,” said Tim Burfield, Lifeway’s chairman. “We’ve built two other leading companies with Bryan Cressey and his team over many years. They are outstanding partners and true healthcare innovators.”
Lifeway is a provider of home accessibility and safety solutions, including stairlifts, wheelchair ramps and lifts, transfer aids and bath safety products. It currently serves customers in fourteen states.
Lifeway’s plans for the investment include continuing organic growth in its current locations and acquiring outstanding providers to create regional hubs throughout the country. Earlier this year it invested in the assets of Pennsylvania-based Accessible Home Automations, LLC, doing business as StairBusters.com, and Los Angeles-based Gamburd.
“We’re building the leading accessibility company by collaborating with health care providers, payers and managers; launching unique consumer outreach campaigns; investing in successful regional providers and recruiting leading industry talent,” added Paul Bergantino, Lifeway’s president. “Cressey & Company’s resources, health care expertise and extensive relationships will be instrumental to our success.”
Terms of the transaction were not disclosed.
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