Drive Medical acquires DeVilbiss Healthcare

PORT WASHINGTON, N.Y. — In its largest acquisition to date, medical equipment manufacturer Drive Medical acquired DeVilbiss Healthcare from Vestar Capital Partners in early July. Terms of the transaction were not disclosed, but the new company will be named Drive DeVilbiss Healthcare.

DeVilbiss globally manufactures respiratory and sleep products in more than 80 countries, with its headquarters in Somerset, Pa., and distribution centers in North America, France, Germany, the Netherlands, the United Kingdom, Australia and China.

“DeVilbiss has a long history of innovation in respiratory, going back to the 1880s,” Harvey Diamond, CEO of Drive 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. We believe Drive has the experience, resources and passion to propel DeVilbiss forward as a leader in the respiratory and sleep markets.”

Richard Kolodny, president of Drive, said the acquisition will provide Drive with “a solid platform” in the respiratory and sleep products, and help expand Drive’s global presence.

“We will continue to grow the DeVilbiss product lines along with Drive’s extensive portfolio of medical equipment,” Kolodny said. “With our Chad brand of oxygen conserving devices and other respiratory products, Drive DeVilbiss will become the go-to source for all of our customers’ medical equipment needs.”

Richard Kocinski, CEO of Drive’s Chad manufacturing operations and a former CEO of DeVilbiss Healthcare, has been named as managing director of DeVilbiss. Oliver Niemann, head of DeVilbiss International, will continue in his current role, leading DeVilbiss’s international operations.