Private equity firm Gauge Capital has acquired Reliable Medical.
Broadly, the move signals continued investor interest in the Complex Rehabilitation Technology and mobility sector amid demographic tailwinds and persistent demand for specialized care. Financial terms of the deal were not disclosed.
“[Reliable CEO Charles Sargeant] and the broader Reliable management team have done an excellent job building a differentiated CRT platform with strong clinical capabilities, durable reimbursement characteristics, and a compelling growth profile,” David Friedman, a partner at Gauge Capital, said in an announcement. “We have been impressed by Reliable’s operational discipline, its ability to recruit and develop ATP talent, and its track record of executing both organic growth and strategic acquisitions.”
Specifically, Gauge Capital says it is partnering with Reliable Medical’s management team to provide growth capital and complete a recapitalization of the Nashville-based company, which specializes in mobility solutions for patients with severe and permanent mobility impairments.
The deal, according to Gauge Capital, positions Reliable for its next phase of expansion while maintaining its current leadership team.
“We are thrilled to partner with the team in this next chapter,” Friedman continued.
Gauge acquired the company from Seven Hills Capital, which first invested in Reliable back in 2018 and then recapitalized it in 2023.
As part of the transaction, Gauge executives David Friedman, Alex Asbill and Alex Amato joined Reliable’s board of directors.
Gauge Capital, based in Southlake, Texas, is a middle-market private equity firm managing more than $3 billion in capital. The firm invests across five sectors, including health care, and has focused increasingly on services businesses with recurring demand and defensible market positions. In the Reliable transaction, Gauge was advised by Cain Brothers, a division of KeyBanc Capital Markets, and Bailey & Company, while McDermott Will & Schulte served as legal counsel.
During its ownership, Seven Hills supported Reliable’s expansion efforts and helped build out its platform in the fragmented CRT and mobility market. Harris Williams served as financial advisor to Reliable Medical on the transaction.
“Reliable was founded with a people-first mindset and a deep commitment to clinical excellence,” Sargeant said in the announcement. “We are proud of the team we’ve built and the care we provide to the people we serve.”
Among Gauge’s health care portfolio companies is Children’s Choice Pediatric Dental Care, which delivers pediatric dental and orthodontic services to commercial and Medicaid patient populations. The PE firm also invests in Comprehensive EyeCare Partners, Lucent Health and Streamline Healthcare Solutions.
“We’re excited to partner with Gauge, whose experience scaling health care services businesses will help us invest further in our people, expand access to care, and accelerate our growth in a thoughtful and disciplined way while staying true to what matters most: serving our customers well,” Sargeant continued.
The deal comes as the mobility and complex rehab sector continues to draw attention from financial sponsors seeking exposure to health care segments tied to long-term demographic trends.
Additionally, unlike some areas of durable medical equipment, the CRT space has relatively high barriers to entry, including clinical expertise requirements, complex reimbursement pathways and the need for long-term service capabilities. Investors have increasingly viewed those factors as stabilizing forces, particularly in an uncertain reimbursement and regulatory environment – one that now includes the return of competitive bidding in Medicare.
In 2025, Mobility Management covered multiple notable transactions in the CRT and mobility sector.
One significant deal, for instance, was Numotion’s acquisition of Motion, a Canadian provider of CRT and accessibility solutions. This acquisition expanded Numotion’s footprint in Canada and strengthened its position in the complex rehab and accessibility market.
Neither Gauge Capital nor Reliable responded to a Mobility Management request for comment prior to publishing this story.
