PromptCare Companies, which is backed by the Halifax Group, said Nov. 26 that it acquired Hollywood Medical Supply. Robert Lichtenstein, Hollywood’s owner and CEO, is the seller. Financial terms weren’t announced. Hollywood provides respiratory therapy services and related medical supplies for medically fragile children in Florida.
PromptCare Acquires Florida’s Hollywood Medical Supply
Expands Footprint of Specialty Respiratory and Infusion Services Provider
NEW PROVIDENCE, NJ – November 26, 2019 – The PromptCare Companies (“PromptCare” or the “Company”), a leading regional provider of respiratory therapy and specialty infusion services, announced it has acquired Hollywood Medical Supply (“Hollywood”) from owner and CEO, Robert Lichtenstein. The acquisition will further expand PromptCare’s footprint in the Southeastern United States. Terms of the transaction were not disclosed.
Founded in 1965, Hollywood is a provider of hi-tech respiratory therapy services and related medical supplies focused on the care of medically fragile children in Florida. The Company serves more than 1,200 patients with such equipment as ventilators, apnea monitors, surgical supplies, enteral feeding, and oxygen services.
“We are excited to enter the state of Florida through this strategic combination with Hollywood Medical Supply,” said PromptCare CEO Tom Voorhees. “Bob has built a company with a care-centric approach and pediatric patient orientation that are well-aligned with PromptCare’s mission and strategy.”
“PromptCare’s commitment to providing the highest levels of patient care made them the perfect partner to continue Hollywood’s 50-year legacy of serving medically fragile patients in South Florida,” Mr. Lichtenstein said.
Goodwin Procter served as legal counsel to PromptCare.
The PromptCare Companies, Inc. is a leading regional provider of specialty respiratory and infusion services. Established in 1985 and headquartered in New Providence, NJ, PromptCare serves pediatric and adult patients across the Mid-Atlantic and Northeastern United States. The Company combines high-tech equipment and infusion drug therapies with a tailored, high-touch service approach to deliver superior patient care, and is a preferred partner of hospitals, physicians, and payors in managing complex medical conditions such as ALS, chronic lung conditions, and a number of nutritional and autoimmune deficiencies. PromptCare currently serves more than 2,900 pediatric and adult ventilation patients and more than 1,300 specialty infusion patients from 28 locations in 16 states.