Sarnova Acquires DXE Medical, Inc.
Wednesday, January 02, 2013
- Sarnova, Inc., the nation's leading specialty distributor of health care products in the emergency medical services (EMS) and acute care markets, announced today that it has acquired DXE Medical, Inc. ("DXE"). The acquisition extends the company's portfolio of resuscitation equipment, and expands its services into maintaining, repairing and recertifying EMS and acute care equipment.
"As a market leader, we have been looking at new ways to support health care providers who are operating under increasingly constrained budgets. Adding repair and recertification capabilities to our menu of services enables us to become a long-term partner to our customers in helping them care for and maximize the life of their medical equipment. In addition, we can offer them the option of buying "like new" equipment that is fully certified and warranted," said Dan Connors, chairman and chief executive officer, Sarnova. "By aligning with DXE, Sarnova also deepens its offering of resuscitation equipment to health care providers, and expands its group of customers to businesses, not-for-profit groups and government agencies."
DXE, headquartered in Brentwood, Tenn., specializes in distributing new and recertified emergency products, and providing refurbishment services. It employs manufacturer-certified biomedical technicians and rigorous testing procedures to repair and upgrade medical equipment to factory-certification levels. With the addition of DXE, Sarnova will form a new services business, which will be led by Matt Spencer, founder and CEO of DXE. Sarnova will distribute DXE's new and "like-new" equipment and supplies through its family of companies: Bound Tree Medical, Emergency Medical Products, Inc. (EMP) and Tri-anim Health Services, Inc.
"I am very excited about the opportunity for DXE to become part of Sarnova," said Matt Spencer, CEO of DXE. "Together, we will offer health care providers the best products, prices, advice and services to support them with providing their patients with the highest level of care."
DXE is the fifth acquisition Sarnova has completed since Water Street Healthcare Partners, a strategic private equity firm focused exclusively on health care, invested in the company in 2008.
In the four years since Sarnova partnered with Water Street, the company has expanded its products and services to become the nation's leading specialty health care distributor to thousands of emergency medical providers, hospitals and acute care centers across the country.
"With this newest acquisition, Sarnova is uniquely positioned as a provider that can offer health care providers a comprehensive portfolio of clinically differentiated medical products and expertise supported by refurbishment, maintenance and repair services," said Chris Sweeney, a partner with Water Street and board member of Sarnova. "We will continue to pursue new opportunities that will expand the company's capabilities to support customers with maximizing their spending on products and services that provide them with the highest quality and value."
DXE was a privately negotiated transaction. Financial terms are not being disclosed.
About Sarnova, Inc.
Sarnova is a leading specialty provider of health care products across the emergency medical services (EMS) and acute care continuum. It is comprised of three major business units: Bound Tree Medical, Emergency Medical Products, Inc. (EMP) and Tri-anim Health Services, Inc. Both Bound Tree and EMP are focused on EMS and pre-hospital medical supplies, while Tri-anim specializes in acute care and respiratory products. Together, Sarnova offers more than 100,000 health care products to thousands of emergency care providers, hospitals and advanced patient-care facilities nationwide. Sarnova is a company of Water Street Healthcare Partners, a strategic private equity firm focused exclusively on health care. For more information, visit www.sarnova.com.
Vice President of Product Marketing, Sarnova