HARRISBURG, Pa., Nov. 5, 2012 /PRNewswire/ -- Dynamic Healthcare Services, Inc. ("DHS") a portfolio company of GMH Ventures LLC ("GMH") announced today that it acquired Evanko Respiratory Inc. ("Evanko") of Hazleton, PA on September 7, 2012. The terms of the acquisition were not disclosed.
Evanko is a full service distributor of medical products and equipment including respiratory and sleep equipment and mobility products (with the exception of power wheelchairs). Evanko was founded in 2001 by President Thomas J. Evanko, CRT. The company experienced significant growth and success under Mr. Evanko's leadership until his passing on April 5, 2012. Mr. Evanko's wife, Carmela, became President soon afterward and continued to run the business until the sale to DHS.
Evanko's strong, regional operation includes Schuylkill County, Carbon County, Luzerne County and parts of Columbia County, PA. The company's solid reputation of unrivaled customer service has created a loyal database of both customers and referral sources, which will be integrated with DHS's operations.
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. Today, DHS employs more than 80 employees with facilities throughout Pennsylvania.
"Evanko is perfectly positioned to provide opportunity for DHS growth in one of our strategic areas - Hazleton, PA," commented Terry Luft, President and CEO of DHS. "Our experience, infrastructure and resources combined with Evanko's current position in the marketplace will allow us to take immediate advantage of growth opportunities in numerous locations in the Hazleton area," added Luft.
Michael Holloway, Executive Vice President of GMH, stated, "Acquiring smaller but fiscally sound companies like Evanko under the DHS brand has been a strategic goal from the beginning of our partnership with DHS. GMH's capital support combined with DHS's well-established position in the HME space and Evanko's loyal clientele and strong customer service provides us the opportunity to continue our market expansion and fiscal growth in 2013." added Holloway. "We are currently looking to acquire other similar size organizations in the home medical equipment marketplace to grow our regional focus," finished Holloway.
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.
|SOURCE GMH Ventures LLC|
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