Drive DeVilbiss Completes Partnership Agreement with Clayton, Dubilier & Rice
- By Laurie Watanabe
- Jan 05, 2017
Drive DeVilbiss Healthcare has come to an agreement with Clayton, Dubilier & Rice, a private investment firm that will be investing in the DME and complex rehab technology manufacturer.
In a Jan. 4 news announcement, the two companies said they’d agreed to an “equity investment by CD&R-managed funds and existing management in Drive DeVilbiss Healthcare. Terms of the transaction were not disclosed.”
The new investment “will enable Drive to continue its organic growth strategy, as well as provide Drive with additional capital to pursue future acquisitions, which is expected to result in continued robust growth in the years ahead,” the news announcement said.
Drive said its customer base includes more than 15,000 dealers, home healthcare providers, healthcare distributors, retailers and e-commerce companies.
Clayton, Dubilier & Rice has a number of healthcare companies in its investment portfolio, including AssuraMed, Envision Healthcare, PharMEDium, and Healogics.
Laurie Watanabe is the editor of Mobility Management. She can be reached at firstname.lastname@example.org.