PRESS RELEASE
HARRISBURG, Pa., March 26, 2014 /PRNewswire/ -- The Board of Directors of Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH") and Lakewood Capital, LLC, announced Michael Grabko as new Chief Executive Officer effective March 24, 2014. Mr. Grabko joins DHS having most recently served as Senior Vice President at Univita Health, Inc.
"During this unique and transformative period in health care, there is no better person to lead DHS than Mike Grabko," stated Michael Holloway, President of GMH Ventures and board member of DHS. "Mike's 30 plus years of experience in health care comprises a unique blend of traditional home health services, including DME, with cutting edge strategies on how to deliver such services in the new health care environment."
Mr. Grabko began his career in a variety of operational and financial positions in the health care industry leading to his co-founding of a rehabilitation company in 1995. He later served as Vice President of Operations at Apria Healthcare and later as an Area Vice President and Corporate Vice President at Air Products Healthcare. Most recently, Grabko led the expansion of Univita Health into nine states, and served as a key member of the management team that doubled revenue to over $200 million. He also was instrumental in developing networks with over 2,000 providers and utilizing multiple operating model structures to serve multiple constituencies, including insurance companies, referral sources, and patients. "I am extremely excited to be a part of the DHS management team that recognizes the growth potential opportunities in this ever changing Home healthcare environment," Grabko said. "We at DHS will look to position the company as a leader in the current geography we occupy, but with a vision for the expansion into new and profitable markets, products, acquisitions, and contracts."
Roger Knight, Board Member, interim Chief Executive Officer of DHS, and Managing Partner of Lakewood Capital, stated, "I couldn't be happier to have Mike join the growing DHS family of companies at this critical stage of our growth. He brings a keen understanding of the industry and how we got to where we are today. More importantly, he has been instrumental in developing novel relationships with providers and payors, designed to succeed in the future framework of health care in the United States. The Board and I are excited to work with Mike in driving DHS to a leadership position in the industry.”
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 as well as central and northern NJ markets. During the past two years, DHS announced the acquisitions of HomeTown Oxygen, Pittsburgh LLC, Evanko Respiratory, APO2, Progressive Home Medical Equipment and Reliable Medical Equipment, all regional distributors of home medical equipment in the Pennsylvania and New Jersey markets. 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 and North Jersey with the recent acquisitions.
About DHS:
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.