Herman Miller, Inc., Announces the Acquisition of Nemschoff, Inc.
Nemschoff is a manufacturer of high-quality, leading-edge design and is recognized as a market leader in healthcare furnishings, with specific strength in soft seating and the patient care environment. Many of the Nemschoff family of products are also specified in the commercial office and education markets. The company's headquarters and largest operations are located in
Walker continued, "The acquisition of Nemschoff is a significant step in Herman Miller's growth strategy and further evidence of our commitment to the healthcare market, where
In making the Nemschoff announcement, the company noted healthcare is an important and growing vertical market opportunity. Relative to other sectors of the economy, healthcare construction remains strong and is supported by significant drivers fueling expectations for future growth. These include an aging population, with the percentage of Americans over the age of 65 projected to grow from 12% to 20% by the year 2030. Additionally, 20% of the recent federal government stimulus package is focused on healthcare, while healthcare costs as a percentage of GDP are projected to grow from 16% to 20% by the year 2017. Global demand for healthcare services and related facilities is also expected to continue to rise.
With the acquisition of Nemschoff, the combined companies offer a full range of product applications from the waiting room to administrative offices, and from the clinical lab and pharmacy to the patient room. The designs of each brand are complementary to the whole, providing multiple performance levels and price points in the healthcare interiors category.
Nickels added, "The cultures and capabilities of the combined organizations are also highly compatible--we share a dedication to quality healthcare through great products that enhance the caregiver, patient, and family experience. Each is also known for their focus on innovative design, quality craftsmanship, great value, reliable operational performance, and a genuine commitment to environmental sustainability."
In announcing the purchase
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