OJ Medtech/Charm Medical buys into respiratory market
By HME News Staff
Updated Tue July 28, 2020
ISLIP, N.Y. - OJ Medtech/Charm Medical Supply has acquired PRO2 LLC, an oxygen and CPAP supply company that operates two locations in Buffalo, N.Y., and serves more than 10,000 patients annually.
PRO2 will help OJ Medtech/Charm Medical expand its product offerings. OJ Medtech in Islip, N.Y., provides compression garments; and Charm Medical in Pembroke, Mass., also provides compress garments, as well as incontinence and urological and wound care supplies, nutritional products and lift chairs.
“We admire PRO2's clinical focus and market presence in the respiratory services and sleep therapy sectors in western New York,” says Peter Tallas, president and CEO of OJ Medtech/Charm Medical. “We found strong synergies with our existing service model of connecting patients, physicians and payers. We see the product line expansion into the respiratory and sleep services sector as a key growth initiative in the years ahead.”
Upstream Capital, OJ Medtech's equity sponsor, partnered with Midwest Mezzanine Funds and Eagle Private Capital to assist with the acquisition.
Paragon Ventures initiated the transaction and acted as the exclusive advisor to PRO2.
“The acquisition of PRO2 by OJ Medtech/Charm Medical emphasizes the increasing voracity and strength of strategic acquisitions for HME companies,” said Tony Marsallo, managing director for Paragon Ventures. “PRO2 has grown consistently through its local market sales efforts and created operating efficiencies to drive revenues and profits over the past few years.”
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