LOUISVILLE, Ky., Dec. 8 /PRNewswire/ -- RecoverCare, LLC, a leading distributor of wound care and bariatric equipment and solutions to the acute and long term healthcare markets, today announced that it is relocating its corporate headquarters from Philadelphia, PA to Louisville, KY. The decision to relocate the Company's headquarters follows RecoverCare's merger-of-equals transaction with MedaSTAT USA, LLC, a national provider of wound care support surfaces and related products for those in long term, acute care, and home care environments, based in Louisville since its founding in 1998. The transaction was completed in August 2009.
RecoverCare offers a national service infrastructure, with 158 service centers and over 750 employees and a fixed asset inventory approaching 100,000 units. RecoverCare also has durable, quality customer relationships with leading acute and long term healthcare facility chains, innovative technology solutions, sophisticated asset management practices and growth capital to expand organically and through acquisitions within the rapidly growing healthcare markets of wound care and bariatrics.
The headquarters relocation safeguards the approximately 75 current Louisville jobs and creates 57 new employment opportunities with the potential for more job creation and future growth. The relocation strategy was driven by a $2.3 million tax incentive offered by the Commonwealth of Kentucky, along with the many advantages offered by Louisville, which has a rapidly growing health care industry and a large number of experienced health care professionals. Additionally, the Company's already significant presence and history in this city makes the location even more compelling.
"There is a reason that Louisville is known as Possibility City," said Mark Bidner, Chief Executive Officer of RecoverCare. "With its growing healthcare industry and a large pool of experienced healthcare professionals to complement our existing core of talented employees across the country, Louisville is an excellent location for our growing company. We commend Mayor Abramson, his team at Greater Louisville Inc. and the Commonwealth of Kentucky for fostering an environment that is supportive of business and for their efforts in bringing RecoverCare to Louisville. We look forward to continuing RecoverCare's tradition of being actively involved in our community."
"We are pleased that RecoverCare has chosen our city as its headquarters, bringing new jobs and new ideas in health care to Louisville," Mayor Jerry Abramson said. "Louisville is a center for health innovation and this new corporate headquarters further cements the city's leadership role."
"I'm pleased to welcome RecoverCare, an industry leader in the healthcare industry, to the Commonwealth," said Governor Steve Beshear. "The location of the company's headquarters and creation of 57 new jobs is a testament to the business climate and quality of life available in Louisville."
"We are delighted that Louisville was able to make a compelling case in attracting RecoverCare to the city," said Joe Reagan, President & CEO of Greater Louisville Inc. - The Metro Chamber of Commerce. "In addition to being a fertile ground for ideas and entrepreneurs, Louisville is nationally recognized as a place for health care and logistics innovation, which makes RecoverCare a strategic fit, as the Company operates in both of these industries."
RecoverCare is the nation's leading distributor of wound care, bariatric and safe patient-handling equipment and solutions to healthcare facilities nationwide via 158-plus service centers and over 750 employees. The company, which is privately owned, serves acute care hospitals, long term acute care hospitals, skilled nursing facilities, rehabilitation facilities, hospice centers and home care patients. RecoverCare's primary product lines include therapeutic mattresses for wound care, bariatric equipment for care of obese patients, specialty beds and patient transfer equipment for safe patient handling and negative pressure wound therapy equipment. In addition to the use of state of the art technology to ensure just-in-time equipment delivery programs, RecoverCare also provides added value to its customers by supplying extensive clinical support, continuing education programs, real time web based equipment management, tracking and billing solutions, compliance documentation support and equipment procurement flexibility to deliver cost efficient, clinically effective patient outcomes. The company also manufactures bariatric and "high-low" bed frames, safe enclosure bed systems and various other safe patient handling and bariatric equipment under its wholly owned Camtec division. RecoverCare's consistent focus upon customer service and commitment to patient care has led to extraordinary and rapid growth throughout the United States. RecoverCare's conscientious focus on building and maintaining long term relationships with its customers has and will continue to drive the company's mission to provide exceptional service and affordable products to its customers that are second to none. For more information, log on to www.recovercare.com.
Media Contacts: Matthew Sherman / Jaime Wert Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449
SOURCE RecoverCare, LLC
|SOURCE RecoverCare, LLC|
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