HARRISBURG, Pa., April 17, 2014 /PRNewswire/ -- Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH") and Lakewood Capital, LLC, announced today that it acquired RespaTech, LLC ("RespaTech") of Kenvil, NJ on March 31, 2014. The terms of the acquisition were not disclosed.
RespaTech is full-service home medical equipment ("HME") company providing a wide range of respiratory, sleep, mobility, durable medical equipment products and services to customers in the New Jersey market. RespaTech owner, David Lasko, will join DHS and manage the Kenvil office while leading the sales efforts in nearby markets. The new facility and its operations will be folded into the recent Reliable Medical acquisition as a satellite location.
Michael Holloway, President of GMH Ventures, stated, "RespaTech's presence in the New Jersey market combined with Reliable Medical's reach in the area, along with the Northern New Jersey Metro CBA contract that DHS already had in place, gives us an amazing foothold across the state. David and his team at RespaTech have developed a strong network of referral partners and a reputation for providing superior customer service across the area. We now have the opportunity to showcase our offerings to a wider customer pool in the western part of the state, while David expands our reach even further with his leadership and managerial expertise. We are all excited to have David and RespaTech join our DHS family of companies, and expand the DHS brand even further into these new locations," finished Holloway.
"Combining our resources with David and the RespaTech team provides us with a platform to serve our customers in New Jersey much more efficiently and proactively," stated Terry Luft, Vice Chairman of DHS. "David's managerial skills and sales leadership will also open up numerous efficiencies and opportunities for both our staff and customers as we continue to grow and prosper in the region. We are extremely pleased that RespaTech is joining the DHS team, and the ensuing opportunities and growth that lies ahead."
"This is an ideal situation for all parties involved," stated David Lasko of RespaTech. "With the Northern NJ Metro CBA contract that DHS already had been awarded, we are now able to fully service the RespaTech referral sources under the DHS brand, while also engaging in new opportunities across the region that were previously unattainable. Both DHS and GMH have highly respected names in the HME community along with a powerful support system and I'm proud to be a part of this growing success story," finished Lasko.
DHS was formed in 2000 as the parent company to Central Medical Equipment (Harrisburg) and East Suburban Medical Supply (Pittsburgh), which were originally incorporated in 1981. DHS has grown over the past decade to become a strong regional distributor and provider of home medical equipment, respiratory therapy products and services, and complex rehabilitation products and services in the western and central PA markets. During the past two years, DHS announced the acquisitions of HomeTown Oxygen, Evanko Respiratory, APO2 , Progressive Medical and Reliable Medical; all regional distributors of home medical equipment in the Pennsylvania market. In June of 2013, East Suburban Medical Supply merged into HomeTown Oxygen to combine operations in the Pittsburgh market and continue to operate under the name HomeTown Medical Equipment. DHS has increased its staff to over 120 employees with facilities throughout Pennsylvania with the recent acquisitions.
GMH Ventures is actively seeking to acquire other companies in the home and durable medical equipment marketplace within the Mid-Atlantic and Northeast region.
DHS is a leading provider of home medical equipment, respiratory therapy products and services, along with complex rehabilitation products and services. Our commitment to our customers, superior products and outstanding service are what separates us from other medical suppliers and distributors.
About GMH Ventures:
GMH Ventures is a private equity group, headquartered in Newtown Square, PA. Founded by Gary M. Holloway, Sr. as a vehicle to make controlling equity investments in middle-market companies, GMH Ventures is committed to making long-term investments in companies in the manufacturing, distribution and services industries that have strong and experienced in-place management. Being solely owned, GMH Ventures has flexibility in its approach and strategy to purchasing, owning and operating its portfolio of companies and is constantly looking for new and exciting opportunities in which to invest. Learn more by visiting www.GMH-Ventures.com today.
About Lakewood Capital:
Lakewood Capital was formed in 2007 to team with operating management to make control investments in private companies active in the lower middle market. Lakewood targets businesses that have developed a strong position in their core markets and are facing opportunities/challenges/transition as they move toward the next stage of their developments. Lower middle market businesses often reach a point where their existing resources, be they financial, operational or human, need to be expanded, adjusted and/or reallocated to continue to prosper. These times often occur when founding management seeks less active involvement, new market opportunities arise, growth outstrips current capacity, and/or the competitive landscape changes. Lakewood prides itself on partnering with existing management to capitalize on these times of transition, with the mutual goal of building stronger, more dynamic, more competitive operations in the process.
SOURCE Dynamic Healthcare Services, Inc.