Nationwide Medical engages outside investor

CALABASAS, Calif. – Nationwide Medical plans to use a recent investment to strengthen its bench as it seeks to "compete at a higher level” in the sleep and respiratory space, says CEO David Siegel. 

The company has already lined up several new hires for the first quarter of 2025 and will also look at technology upgrades to support and increase the efficiency of its operations and sales staff – a model that has worked for the company since its inception, says Siegel. 

“One of the things we’ve always focused on at Nationwide is making sure halves come together,” he said. “I think that’s been a differentiator for us – to have the operations side be as proficient as possible and then for the sales side to help drive growth.” 

The investment, the first in the family-owned company’s more than 20 years in operation, is in partnership with Heritage Group, a Nashville, Tenn.-based private equity firm that focuses on health care. 

Nationwide, which operates in 49 states and serves more than 100,000 patients, has looked at opportunities for investment in the past, but with the heightened interest in the HME industry, the timing was right to grow the company in this way, Siegel says. 

“Given where our company is and some of the bigger competitors in the space, I just felt like it would give us an opportunity to really compete at a higher level for the doctors and the sleep labs to grow even faster,” he said. 

What won’t change in this new chapter for Nationwide is its focus on staying connected with its patients, Siegel says. Siegel and his father, who co-owned the company before retiring, both came from the life insurance industry and have tried to apply their philosophy serving those clients to HME. 

“Our MO was not to just sell a policy and hope the client never called, but to follow up and make sure we were tending to future needs,” he said. “In this industry, we stay in touch with patients and tend to their needs – is their mask leaking, do they need supplies? Our hope is that if we stay connected to the patient, we can optimize their therapy.”