Seller: Specialized Medical Services From Riverside
Sector: HME, Long Term Care, DME
Riverside Co. exits respiratory market with sale of SMS to Lincare
CLEVELAND – The Riverside Company, a global private equity company based here, has sold Specialized Medical Services to Lincare. Milwaukee-based SMS is a provider of respiratory equipment, logistics solutions and related medical products to long-term care centers like skilled nursing facilities. Under Riverside’s hold, SMS’s footprint grew to cover more than 45 states and 3,200 facilities, and its revenue grew more than seven times, according to the firm.
Riverside initially entered the respiratory market in 2006, when it invested in RCS Management. When it acquired SMS in 2012, it named the combined company SMS. “Combined with other add-on acquisitions, such as Future Medical and Premier Medical, SMS established itself as the largest respiratory equipment provider for SNFs in the nation,” the firm stated in a press release. Riverside says it has made more than 130 investments in the healthcare sector. Lincare is a subsidiary of Germany-based Linde AG.
Terms of the deal were not disclosed.
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