BRENTWOOD, Tenn. – Numotion has signed a definitive agreement to sell to a new private equity sponsor, a company exec has confirmed to HME News.
The national complex rehab provider has been backed by Audax Private Equity and LLR Partners for six years.
“This new partner is excited to continue Numotion’s mission to provide customers with market-leading products and services that will enable them to actively participate in everyday life,” said Bret Barczak, chief marketing officer, in an email statement to HME News. “We anticipate closing the deal before year-end.”
PE Hub reported in December 2017 that Numotion was returning to the auction block in 2018.
Audax acquired Rocky Hill, Conn.-based ATG Rehab in January 2011. LLR Partners made a “growth capital investment” in St. Louis-based United Seating & Mobility in February 2011. The two firms have owned Numotion together since January 2013, when ATG Rehab and United Seating & Mobility merged to form the new company.
Numotion, which currently has 130 locations nationwide, has been a major player in consolidating the complex rehab market. The company most recently bought the complex rehab and home access divisions of Total Respiratory & Rehab, adding 74 employees, including 17 ATPs, to its roster.
Numotion has also been growing its medical supplies business as a separate unit in Houston. It’s currently in network with more than 2,000 insurers for a variety of supplies, including urology, incontinence, ostomy, wound care and enteral nutrition.
Numotion has been led by CEO Mike Swinford, a former GE exec, since 2014.
“There will be no impact on day-to-day operations, as a result of this sale,” Barczak said.
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