Buyer: DME Express
Seller: Advanced Therapeutics
Sector: HME, Medical Supply
Keywords: HME, DME, Hospice, LTC
DME Express acquires Advanced Therapeutics
BATON ROUGE, La., July 25, 2018 /PRNewswire/ — DME Express, a leading technology–enabled provider of medical equipment solutions to the hospice industry, has completed its acquisition of Maryland-based Advanced Therapeutics. The transaction represents the fourth add-on acquisition for DME Express since the beginning of 2017. DME Express, which is backed by multi-billion-dollar single family office WayPoint Capital Partners, now serves over 10,000 hospice patients throughout Louisiana, Mississippi, Arkansas, Texas, Alabama, Maryland, Virginia, the District of Columbia and Hawaii.
DME Express’ CEO, Mark Borneleit, stated, “This transaction will enable us to continue our strategy of new market expansion by acquiring high quality regional operations in fragmented markets ripe for consolidation, where DME Express can provide superior service, lower costs and higher quality equipment to customers. Advanced Therapeutics was founded in 1995 by two industry veterans with over 50 years of experience providing medical equipment to the subacute healthcare industry. Advanced Therapeutics has been serving customers in the Mid-Atlantic for over 15 years, providing medical equipment to some of the largest hospice providers in the nation. Advanced Therapeutics’ strong reputation and established relationships in the area, combined with its experienced staff, provide a solid platform for DME Express to further expand in the Mid-Atlantic and other parts of the country.”
Since partnering with WayPoint Capital Partners, DME Express has continued its rapid organic and acquisition-based growth strategy, completing four add-on transactions and adding over 4,000 new patient census across several markets. “DME Express is in the enviable position to be coming to new markets based on demand from customers,” said Philip Edmunds, Principal at WayPoint Capital Partners. “The management team has a strong track record of partnering with acquired regional operators, improving operations and service levels, and leveraging its proprietary technology and scale to become the dominant provider in each market it serves. We expect to continue to see strong acquisition-based and organic growth over the next few years.”
Other acquisitions completed by DME Express since the beginning of 2017 include the purchase of the hospice medical equipment operations of a local provider in the Little Rock Arkansas market, the acquisition of the medical equipment division of the largest hospice in the State of Arkansas, and the purchase of the largest provider of hospice medical equipment in Northern Mississippi.
About DME Express
DME Express was founded over 10 years ago to fulfill its mission of providing hospices and nursing facilities with the highest quality equipment and service, at the lowest price, whenever they need it. The founders and managers of DME Express have over 150 years of hospice and nursing facility experience and understand the unique needs of hospices and nursing facilities. Since 2006, DME Express has expanded to become the provider of choice in every market within its service areas. DME Express is committed to always be available to its patients with high quality medical equipment, proprietary technology, and unmatched customer service.
For more information: www.dmeexpress.com.
About WayPoint Capital Partners
WayPoint Capital Partners, based in Rye, NY, is a multi-billion-dollar single family office. WayPoint focuses on partnering with entrepreneurs across the middle market healthcare, logistics and business services sectors to grow their businesses organically and through add-on acquisitions. As a balance sheet investor with a perpetual capital source, WayPoint does not have predefined holding periods or exit horizons and can focus exclusively on long–term capital appreciation.
For more information: www.waypointcapitalpartners.com.
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