DURHAM, N.C. – Healthcare Equipment Inc., a family-owned provider of custom rehab and DME, has acquired Powell Medical, a provider of pediatric-focused custom rehab and DME. Tom Powell, who owns Powell Medical, is retiring.
“I was humbled when Tom contacted me,” said Larry Lankford, owner of Healthcare Equipment. “The fact that Tom had the faith and trust in Healthcare Equipment Inc. to continue his high level of service to the Powell Medical family of clients spoke volumes about the reputation we’ve built.” Healthcare Equipment has been in operation since 1979.
The acquisition of the 20-year-old Powell Medical allows Healthcare Equipment to strengthen its position in the marketplace and better advocate for clients through stronger relationships with vendors and greater influence with regulators and lawmakers, says the company.
“I am pleased to say that this acquisition also brings skilled and experienced people to our team,” said Sara Warren, president. “The transition for Powell’s clients should be that much easier with the familiar faces added to our own great team.”
The deal was finalized Jan. 13.
In 2023, the M&A market for healthcare companies continues to build on STRATEGIC opportunities in the current market. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
Contact Paragon Ventures for more information.
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