HARRISBURG, Pa., Jan. 14, 2014 /PRNewswire/ -- Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH"), announced today that it acquired Progressive Home Medical Equipment, Inc. ("Progressive") of Clarion, PA on January 7, 2014. The terms of the acquisition were not disclosed.
Progressive is a full service durable medical equipment ("DME") company providing a wide range of sleep, mobility, and respiratory products to customers in the western Pennsylvania and Pittsburgh markets. Progressive was founded in 2005 by Eric and Bridget Dobrowski, and has increased its market share in the DME space during each year of operation. Most recently, Progressive was awarded a Round 1 Re-Compete Competitive Bid Contract for Respiratory Products, which encompasses Oxygen and CPAP equipment and supplies. The contract went into effect on January 1, 2014 and runs through December 31, 2016.
Michael Holloway, President of GMH Ventures, stated, "Progressive's presence in the Pittsburgh and western PA market immediately increases growth opportunities in the DME space and brand awareness for DHS in these competitive locations. I know myself, Terry Luft and the rest of the DHS management team are extremely pleased to have Progressive join our DHS family of companies. Eric and Bridget have built a strong team at Progressive and having them partner with us going forward is very exciting," finished Holloway.
"I'm really looking forward to the growth potential we'll see as part of DHS," stated Eric Dobrowski, owner of Progressive. "We have been looking for a partner who could join with us to support our plans to expand offerings and services in our core Clarion and surrounding neighborhoods. GMH's management and business support combined with DHS's well-established position in the market place provides a great opportunity for all of us to serve our customers, and I'm very excited for the opportunities that lie ahead. In fact, on our first day together, we were able to provide one of our local customers a product previously not available to us," commented Dobrowski. Eric and Bridget will lead the combined companies business in Clarion and surrounding markets.
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, Pittsburgh LLC, Evanko Respiratory, and APO2, 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.
|SOURCE Dynamic Healthcare Services, Inc.|
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