MobilityWorks Merger with HASCO Medical Increases Footprint to 57 Showroom Locations
$23.5 Million Stock Purchase Combines the Country's Largest Accessible Van Retailers and Adaptive Equipment Providers
RICHFIELD, Ohio, Aug. 21, 2015 /PRNewswire/ -- MobilityWorks®, the nation's largest retailer of wheelchair accessible vehicles, made an unprecedented move last Friday with the announced merger of HASCO Medical, Inc., the parent company of Ride Away and Mobility Freedom wheelchair van dealerships.
The merger significantly solidifies MobilityWorks' presence along the East Coast where HASCO has most of its locations, including the states of CT, FL, MA, MD, ME, NH, NY, PA, VA, and VT. They also have a location in Waco, TX. With MobilityWorks' current 35 showrooms and the new Ride Away and Mobility Freedom stores, the combined companies will have 57 locations in 21 states.
Learn more about MobilityWorks at www.mobilityworks.com
While the companies have been competitors for many years in a few areas of the country, they've shared a mutual respect for each other and a passion for helping people with disabilities to be more independent.
"The people who make up MobilityWorks, Ride Away, and Mobility Freedom are the most caring and trusted professionals in the industry," said Bill Koeblitz, President/CEO of MobilityWorks. "We know the HASCO staff truly care about their clients, and they will be a great fit within our culture and in our quest to help as many people as possible."
In addition to selling new and used modified vans, each of the companies also rents accessible vehicles, installs adaptive equipment (such as hand controls and scooter lifts), and works with local community groups on disability awareness issues.
No specific date has been discussed for merging the brands. "Both Ride Away and Mobility Freedom have had a great history and reputation with their clientele, so there's no immediate need to make any brand name changes," said Eric Mansfield, Vice President of Store Operations for MobilityWorks.
HASCO Medical, Inc., located in Dallas, TX, is a publicly traded company and therefore the merger is subject to all applicable SEC federal securities laws and filings. HASCO shares will be converted to $0.0233 in cash as part of the purchase by WMK, Inc. (dba MobilityWorks). The company expects the merger process to take 45 to 60 days.
About MobilityWorks
MobilityWorks (aka WMK, Inc.) is a Richfield, Ohio-based Inc. 500 company that employs specially trained Certified Mobility Consultants that work closely with its clients to understand their specific transportation needs in finding the right vehicle solution. Founded in 1997 with one location, MobilityWorks has been recognized on the Inc. 500|5000 list of Inc. Magazine's fastest growing privately held companies for the past eight years. The Commercial Division, headquartered in Akron, Ohio, is the largest converter of full-size wheelchair vans in the country and Ford Motor Company's largest mobility upfitter.
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SOURCE MobilityWorks
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