Medical Appliances Rentals: Delta Medical Appliance Medical Services, LLC’s $50M Acquisition Is A Deal For Medical Appliers
Medical Applisions Rentals, Inc., the leading provider of medical appliances for the U.S. market, has reached a multi-year deal to acquire Delta Medical Devices, LLC for $50 million.
The transaction, announced on Thursday, marks the first U.K. medical appliance company to acquire an appliance manufacturer in over two decades.
The deal will close on January 1, 2018.
Delta Medical was founded in 1986 by Dr. James F. Wolk, MD, and Dr. Charles M. Stavros, MD.
Delta is the largest medical appliance manufacturer and has a network of approximately 1,000 stores across the U., Puerto Rico, and Guam.
The acquisition comes at a time when medical appliances are experiencing increasing demand for the first time in years.
Demand has been increasing due to a number of factors, including an aging population and the cost of healthcare.
The rise in demand is driven in part by a decrease in Medicare Part D premium and cost-sharing payments, according to a recent report by the National Association of Medical Equipment Manufacturers.
Dr. Woklens Medical Equipment, Inc. will become Delta’s primary medical appliance business.
Dr. Woks medical equipment, medical appliances and diagnostic devices include devices that treat the treatment of infectious diseases, diabetes, respiratory conditions, cardiac and vascular conditions, and orthopedic procedures.
The company was founded by Drs.
John and Lisa Woks in 1999 and was acquired by Delta in 2006.
Delta Medical Devices will retain ownership of the business, with Delta retaining a minority stake in Delta Medical Services.
Delta will remain the company’s primary revenue source, with revenue from Delta Medical Products, Delta Medical Equipment and Delta Medical Medical Services continuing to support the business and its operations.
“The Delta Medical Systems family of companies will remain headquartered in Atlanta, Georgia,” said Delta Medical Vice President of Business Development and Strategy, Jeff Schott.
“We are pleased to continue working with Delta Medical for our shared mission of providing innovative, quality medical equipment solutions to our patients and families.”
Dr. Stovros, a medical device specialist who specializes in cardiac surgery and orthopaedic devices, joined Delta Medical in 2010 and is currently serving as president of the medical device division.
He has a doctorate in mechanical engineering and has been a research scientist at Georgia Tech since 2009.
Dr Stovios has led Delta Medical’s cardiac surgery division since 2011.
Dr Woks began working for Delta Medical as its chief medical device officer in 2007.
Dr Stovos and Dr Wokls medical devices were the first to be certified by the U,S.
Food and Drug Administration.
Dr Woks work on medical devices has led to more than a decade of industry awards, including the 2015 Edison Award for Medical Devices.
Delta also announced the hiring of Dr. William J. Dyson, MD., MD, the Chief Operating Officer of Delta Medical, as CEO.
Dobs medical device group will remain focused on its medical appliances business.
Delta is also partnering with the Atlanta-based medical technology company, Incoron Inc., to provide healthcare software for its customers, including patients, doctors and nurses.
The company will continue to focus on its healthcare business, as well as developing products for other medical devices companies, according the announcement.