PHM builds on momentum with new investor

KENT, Wash. – Performance Home Medical was recently acquired by a private equity firm and plans to use the investment to become a “disruptor” in the market. 

The company is looking at a number of states to expand into, and while acquisitions with the right partners are on the table, PHM is “great at the organic side,” too, says Dan Vasilj, president and CEO. 

“We’ve had a lot of success focusing on the small details and that’s really allowed us to grow through an organic approach,” he said. 

In business for more than 23 years, PHM has grown into a regional company with 24 locations in Washington state, Oregon and Idaho. It's primarily focused on diabetic, sleep and ventilator products and services. 

As part of the investment, longtime industry executive Larry Mastrovich, who spent 25 years at Apria, has joined PHM’s board of directors as chairman. 

“I wanted to align myself with a company that would be a disruptor in the service model,” he said. “They have a phenomenal clinical reputation. PHM provides services that are well beyond what others do and they do it in a way that is much more patient-focused.” 

For Vasilj, Mastrovich brings a valuable perspective to the table for PHM. 

“We do take a little bit of a different approach, but the real mission for us is patient first,” he said. “That level of expertise and his viewpoints are invaluable.” 

Despite the upheaval of the COVID-19 pandemic and other challenges in these “interesting times,” PHM hasn’t been standing still and the investment is just the next step in the company’s journey, says Vasilj. 

“We’ve been stretching and growing,” he said. “We’ve been able to add new locations and serve new communities, and that’s been going well for us, so we wanted to continue that momentum.”