Direct Healthcare Group, which is backed by ArchiMed, has acquired Stockholm-based Handicare’s Patient Handling division. No financial terms were disclosed. The unit is a specialist provider of transfer solutions that simplify mobility for patients in hospitals, acute care environments, group homes and private homes. No financial terms were disclosed.
The purchase by DHG – a portfolio company of European private equity health care specialist ArchiMed – is a carve-out from Swedish-listed group Handicare.
European private equity healthcare specialist, ArchiMed announces that its portfolio company and partner Direct Healthcare Group has acquired the Patient Handling Europe division of Swedish-listed group Handicare. The acquisition deepens DHG’s range of products and widens its geographical reach, putting it on course to be the leading pan-European provider of products and solutions for the care of patients with limited mobility.
The carve-out of the unit – a specialist provider of transfer solutions that simplify mobility for patients in hospitals, acute care environments, group homes and private homes – follows DHG’s acquisition last month of GATE Rehab Development AB. GATE is a researcher, designer and manufacturer of mobility rehabilitation aids, including technologically advanced sit-to-stand products, and mobile hygiene chairs frequently used at bedsides.
Both acquisitions are part of DHG’s ongoing buy-and-build strategy focused on expansion in Europe and beyond. When ArchiMed acquired DHG in December, the private equity group committed a significant amount of capital to fund expansion for the then largely UK-focused DHG. In addition to significantly broadening DHG’s global reach, the acquisition of Patient Handling Europe and GATE permit DHG to serve customers with a highly complementary and diverse product portfolio for enhancing mobility. The combined group will have sales throughout Europe, Asia and the Americas.
“The products and specialized knowledge we gain with our carve-out of Patient Handling Europe – as was the case with the GATE acquisition – are a perfect fit for our traditional strength in pressure care management,” says Graham Ewart, Direct Healthcare CEO. “The integration of this division will continue DHG’s more than decade-old history of achieving better health outcomes and economic efficiencies for those who would otherwise be bedbound.” At the time of its acquisition by ArchiMed, DHG had developed into an integrated manufacturer of a range of innovative pressure care products designed to prevent medical issues such as pressure sores, which can lead to serious, sometimes life-threatening diseases.
“We are very excited to have completed two acquisitions that have doubled DHG’s size within four months of ArchiMed’s initial investment and to have accomplished this in an uncertain global context,” says Antoine Faguer, a partner at ArchiMed. “PH Europe is a great match in terms of product and geography. It’s not DHG’s last acquisition, but it’s a key milestone on its way to becoming the pan-European leader in the fragmented space for mobility-related medical devices and services.”
About ArchiMed – www.archimed-group.eu
ArchiMed is an independent investment firm specialized in the Healthcare industries. It is a strategic and financial partner to European and North American companies operating in the Biopharma, Medtech, Diagnostics, Life Sciences, Healthcare IT, Consumer Health, Public Safety and Care Services sectors. ArchiMed’s international team combines investment, medical, technological and operational experience. It works alongside management teams to accelerate their business growth through internationalization, product and service range expansion and capacity extension, both organically and through acquisitions. Over the last 20 years, ArchiMed’s leadership team directly managed and invested in over 40 small, medium and large-size healthcare companies throughout the world, with a combined value above five billion euros. ArchiMed’s investment capacity currently exceeds one billion euros and is potentially twice this amount when including its strategic investment partners.
About Direct Healthcare Group – www.directhealthcaregroup.com
No-one better understands the importance of movement and its relationship to both physical and mental health than Direct Healthcare Group, especially when the need to move directly affects the quality of daily living. DHG develops, manufactures and continuously refines a complete range of medical devices focused on early mobilisation of patients in order to prevent health challenges associated with non-movement. The use of Direct Healthcare Group’s products and services means serious medical issues associated with reduced patient movement are anticipated, managed, and resolved. DHG is committed to better health outcomes, accelerated recovery and easier daily living.