PRESS RELEASE
HARRISBURG, Pa., April 17, 2014 /PRNewswire/ -- Dynamic Healthcare Services, Inc. ("DHS"), a portfolio company of GMH Ventures LLC ("GMH") and Lakewood Capital, LLC, announced today that it acquired RespaTech, LLC ("RespaTech") of Kenvil, NJ on March 31, 2014. The terms of the acquisition were not disclosed. RespaTech is full-service home medical equipment ("HME") company providing a wide range of respiratory, sleep, mobility, durable medical equipment products and services to customers in the New Jersey market. RespaTech owner, David Lasko, will join DHS and manage the Kenvil office while leading the sales efforts in nearby markets. The new facility and its operations will be folded into the recent Reliable Medical acquisition as a satellite location.
Michael Holloway, President of GMH Ventures, stated, "RespaTech's presence in the New Jersey market combined with Reliable Medical's reach in the area, along with the Northern New Jersey Metro CBA contract that DHS already had in place, gives us an amazing foothold across the state. David and his team at RespaTech have developed a strong network of referral partners and a reputation for providing superior customer service across the area. We now have the opportunity to showcase our offerings to a wider customer pool in the western part of the state, while David expands our reach even further with his leadership and managerial expertise. We are all excited to have David and RespaTech join our DHS family of companies, and expand the DHS brand even further into these new locations," finished Holloway.
“As the durable medical industry continues to evolve, those committed to serving an expanding need must do so with greater efficiency and with resources to appeal across products, geographies, and payor models,” commented Roger Knight, Board Member, interim Chief Executive Officer of DHS and Managing Partner of Lakewood Capital. “Our initial foothold in New Jersey with the acquisition of Reliable Medical in January is the first step in building a dominant presence in the region. Respatech represents a natural extension, providing us a broader geographical reach, a seasoned team, and a larger platform to benefit from our investment in infrastructure. We plan to continue to be aggressive In New Jersey and surrounding states, leveraging our resources, and positioning us to serve the largest providers and payors in the market.”
"This is an ideal situation for all parties involved," stated David Lasko of RespaTech. "With the Northern NJ Metro CBA contract that DHS already had been awarded, we are now able to fully service the RespaTech referral sources under the DHS brand, while also engaging in new opportunities across the region that were previously unattainable. Both DHS and GMH have highly respected names in the HME community along with a powerful support system and I'm proud to be a part of this growing success story," finished Lasko.
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, Evanko Respiratory, APO2 , Progressive Medical and Reliable Medical; 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.
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.