Park House Healthcare's parent company Drive Medical has agreed a deal to purchase DeVilbiss, a global manufacturer of respiratory and sleep products.
The deal is Drive Medical's largest acquisition to date and provides the fast-growing company with one of the most valued brands in the respiratory and sleep categories in the healthcare industry.
“Park House Healthcare's parent company Drive Medical has acquired the DeVilbiss Healthcare business from Vestar Capital Partners.“
DeVilbiss products are distributed in more than 80 countries throughout the world. Its principal corporate headquarters and manufacturing facilities are located in Pennsylvania, with distribution centres located throughout North America, as well as in France, Germany, the Netherlands, Australia, China and the UK.
Drive and DeVilbiss will operate independently in most parts of the world, but will work to seamlessly integrate the two companies in the Americas, creating a merged organisation called Drive DeVilbiss Healthcare.
Harvey Diamond, chief executive officer of Drive Medical, said: "While their products enjoy considerable market share, we plan to build upon the DeVilbiss brand and product line, especially since the sleep market is the fastest-growing segment in the industry."
Park House Healthcare was acquired by Drive Medical in April 2015.See all the latest jobs in Medical Devices