Hartford, CT June 22, 2021: Lifeway Mobility (“Lifeway”), a leading accessibility solutions provider, announced a significant growth investment by Cressey & Company LP (“Cressey & Company”), a healthcare-focused private investment firm that partners with innovative companies that have the potential to transform the effectiveness and efficiency of healthcare delivery.
Lifeway is a fast-growing provider of home accessibility and safety solutions including stairlifts, wheelchair ramps and lifts, transfer aids and bath safety products. The company now serves customers with mobility challenges and those who wish to age-in-place at home in fourteen states and is rapidly expanding to new markets. Lifeway’s plans include continued organic growth in current locations, acquiring outstanding providers to create regional hubs throughout the country and recruiting accessibility experts to open new locations.
Principals of Cressey & Company have successfully partnered with management teams to build high-quality healthcare services and information technology companies for nearly 40 years. Cressey & Company’s investment will provide additional capital and resources to enable Lifeway to accelerate its growth.
“Welcoming Cressey & Company is especially exciting and gratifying for me,” said Tim Burfield, Lifeway’s Chairman. “We’ve built two other leading companies with Bryan Cressey and his team over many years. They are outstanding partners and true healthcare innovators.”
“We are thrilled to partner once again with this talented group of healthcare executives,” said Dave Rogero, Partner at Cressey & Company. “Lifeway is a proven leader in the home accessibility market and we are excited to help the company accelerate growth and deliver its valuable healthcare offerings to patients nationwide.”
“We’re building the leading accessibility company by collaborating with healthcare providers, payers and managers; launching unique consumer outreach campaigns; investing in successful regional providers and recruiting leading industry talent,” added Paul Bergantino, Lifeway’s President. “Cressey & Company’s resources, healthcare expertise and extensive relationships will be instrumental to our success.”
Terms of the transaction were not disclosed.
About Lifeway Mobility
Headquartered in Hartford, Connecticut, Lifeway is a leading accessibility solutions provider serving numerous geographic markets across the United States. Lifeway offers people with mobility limitations a full selection of accessibility and safety equipment, including stairlifts, wheelchair lifts, elevators, ramps, transfer lifts, and bath safety solutions. To learn more about Lifeway, visit www.lifewaymobility.com.
About Cressey & Company LP
Based in Chicago, Illinois and Nashville, Tennessee, Cressey & Company LP is a private investment firm focused on building leading healthcare services and information technology businesses. With a history spanning nearly 40 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. For more information, visit www.cresseyco.com.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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