MADISON HEIGHTS, Mich., April 15, 2016 /PRNewswire/ -- InfuSystem Holdings, Inc. (NYSE MKT: INFU), a leading national provider of infusion pumps and related services for the healthcare industry in the United States and Canada, announced today that its subsidiary, InfuSystem Inc., has reached an agreement for the acquisition of the infusion pump assets of InfusAID, LLC. InfusAID, based in the Philadelphia area, is a privately-held regional provider of ambulatory infusion pumps and services to medical facilities. InfuSystem will acquire approximately 400 infusion pumps from InfusAID pursuant to the agreement.
"Similar to our acquisition of Ciscura in 2015, the pumps we acquire from InfusAID will come to us with 18 medical facility relationships that will help us gain additional market share as the marketplace continues to consolidate. We also believe this transaction will offer clinicians and patients better access to more affordable in-network care via InfuSystem's 340+ insurance payor contracts," said Eric K. Steen, chief executive officer of InfuSystem.
Mr. Steen continued, "To the customer facilities formerly served by InfusAID, we will offer our expanded portfolio that includes our patent-pending, time-saving electronic connectivity solutions, pole-mounted infusion pumps, infusion-related disposables such as catheter care kits and IV tubing, and chemo safety products that meet the proposed USP Chapter 800 requirements. We believe this will further help these facilities deliver the highest quality care to their patients."
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. is a leading provider of infusion pumps and related services to hospitals, oncology practices and other alternate site healthcare providers. Headquartered in Madison Heights, Michigan, the Company delivers local, field-based customer support and also operates Centers of Excellence in Michigan, Kansas, California, Texas, Georgia and Ontario, Canada. The Company's stock is traded on the NYSE MKT under the symbol INFU. Additional information about InfuSystem Holdings, Inc. is available at www.infusystem.com
Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "strategy," "future," "likely," variations of such words, and other similar expressions, as they relate to the Company, are intended to identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, potential changes in overall healthcare reimbursement, including the Centers for Medicare and Medicaid Services competitive bidding, sequestration, concentration of customers, increased focus on early detection of cancer, competitive treatments, dependency on Medicare Supplier Number, availability of chemotherapy drugs, global financial conditions, changes and enforcement of state and federal laws, natural forces, competition, dependency on suppliers, risks in acquisitions and joint ventures, U.S. Healthcare Reform, relationships with healthcare professionals and organizations, technological changes related to infusion therapy, dependency on websites and intellectual property, the ability of the Company to successfully integrate acquired businesses, dependency on key personnel, dependency on banking relations and covenants, and other risks associated with our common stock, as well as any litigation to which the Company may be involved in from time to time; and other risk factors as discussed in the Company's annual report on Form 10-K for the year ended December 31, 2015 and in other filings made by the Company from time to time with the Securities and Exchange Commission, including subsequent quarterly reports on our Form 10-Q. Our annual report on Form 10-K is available on the SEC's EDGAR website at www.sec.gov, and a copy may also be obtained by contacting the Company. All forward-looking statements made in this press release speak only as of the date hereof. We do not intend, and do not undertake any obligation, to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
Joe Dorame, Joe Diaz & Robert Blum
Lytham Partners, LLC
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SOURCE InfuSystem Holdings, Inc.