Dec. 31—CHAMPAIGN — A medical-equipment provider with headquarters in Cleveland has acquired Carle Medical Supply.
Medical Service Company, founded in 1950, is a family-owned and -operated company with 650 employees and 45 locations that supports discharge planning services for more than 50 partnering hospitals and over 200,000 patients annually, the business said.
“Through MSC’s investments in technology, hospital liaisons and industry-leading care models, coupled with our family-first culture, Carle Health and its patients will benefit tremendously from this partnership,” CEO Josh Marx said.
MSC officials said it is dedicated to offering services that include oxygen therapy, sleep therapy, non-invasive ventilation therapy and “other home medical equipment and supplies.”
They also said its partnership with Carle will “accelerate the discharge process for patients prescribed home medical equipment and for similar needs in the outpatient setting across (Carle’s) network.”
Carle Medical Supply serves Carle patients across central Illinois.
“The shift to Medical Service Company will bring decades of experience to our communities and provide continuity of services for our patients with a strong network of durable and medical services,” said Dennis Hesch, Carle executive vice president and CFO. “Medical Service Company will enable us to prioritize our core business, focusing on the health and well-being of patients and the communities we serve.”
MSC’s list of locations includes communities in Illinois, Indiana, Michigan, Ohio, New York, Pennsylvania and Wisconsin.
That includes locations at 3002 Apollo Drive, Suite 14, in Champaign, Carle Champaign on Kirby Avenue and Carle Danville on Gilbert Street.
The M&A market for healthcare companies continues to build on STRATEGIC opportunities and a fragmented market. Consolidations along with unprecedented demand are driving scale across the continuum of care. 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.
800-719-1555
