Healthcare mergers and acquisitions advisory firm Vertess announced this month the closing of two acquisitions by Patient Home Monitoring (PHM). PHM is a healthcare company with $200 million annualized revenue and a focus on diverse products and services that improve outcomes, reduce hospital readmissions, and help control costs.
Vertess represented the two separate durable medical equipment (DME) companies acquired, Legacy Oxygen, a Kentucky-based company with $3.5 million annual revenue, and Sleep Management, a Louisiana-based company with $45 million annualized revenue and operations in 19 states. PHM has since formally announced that it is initiating the process to graduate to the TSX Senior Exchange.
“We are continuing to strengthen our position as very successful M+A advisors for DME and related healthcare companies across the US,” says Bradley Smith, the Vertess managing director/partner who represented both Legacy Oxygen and Sleep Management in the transactions, in a release. “There are outstanding opportunities for both sellers and investors in this marketplace.”
Tom Schramski, PhD, CMAA, founder and managing partner says, “Vertess has been growing rapidly and we have already exceeded our ambitious targets for 2015. We are quickly becoming one of the premier healthcare M+A firms in the country with a very strong value proposition for our clients.”