Buyer: Compass Health Brands
Sector: HME, Medical Supply
Compass Health Brands, a provider of medical devices used for homecare, rehabilitation, and pain management, has acquired Richmar. Headquartered in Chattanooga, Tennessee, Richmar develops, manufactures, and markets a comprehensive range of high quality devices and consumables used by therapists, athletic trainers, chiropractors, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, traumatic events and sports-related injuries.
Compass Health and Richmar have both established strong positions in the rehabilitation market. Richmar has a 50-year legacy in the industry and is well-known for its quality manufacturing. Each have complementary products in the rehabilitation and pain management markets and, when combined, will offer a broader go-to-market approach through multiple sales channels. This dynamic combination is expected to provide improved value and service by rapidly utilizing the existing capabilities and product portfolios of both companies.
“We are delighted to welcome the Richmar team to the Compass Health Brands family,” said Stuart Straus, president and CEO of Compass Health. “The combination of our brands, teams, and resources will allow us to develop more innovative products to better care for the needs of patients and caregivers while also enhancing our customers’ business success. This strategic fit, both in the U.S. and overseas, is absolutely compelling and we look forward to further enhancing and satisfying the current Richmar distribution partners.”
“We are excited to be joining Compass Health Brands,” added Chad Morgan, president of Richmar. “Being part of such a rapidly accelerating organization will bring significant opportunities for continued organic growth and product innovation in the market segments we serve.”
Compass Health Brands’ acquisition of Richmar follows the company’s purchase of both the ProBasics and Meridian Medical brands. The new addition of Richmar further diversifies and strengthens Compass Health Brands’ extensive and ever-growing portfolio of innovative healthcare products that promote consumer independence and quality of life. S