Dynamic Healthcare Services (DHS), a portfolio company of GMH Ventures, a Newtown, Pa.-based private equity group, has continued its string of acquisitions into 2014.
DHS has acquired Clarion, Pa.-based Progressive Home Medical Equipment, a full-service HME provider serving the Pittsburgh and western Pennsylvania market. Progressive accepted contracts for respiratory products as part of the Round 1 re-compete that went into effect Jan. 1.
“Progressive’s presence in the Pittsburgh and western (Pennsylvania) market immediately increases growth opportunities in the DME space and brand awareness for DHS in these competitive locations,” said Michael Holloway, president of GMH Ventures, in a release.
In 2013, DHS acquired APO2 in Hazelton, Pa. In 2012, it acquired HomeTown Oxygen and Evanko Respiratory, also in Pennsylvania.
Eric and Bridget Dobrowski, who founded Progressive in 2005, will lead the combined businesses in Clarion and surrounding markets, according to the release.
“I’m really looking forward to the growth potential we’ll see as part of DHS,” said Eric Dobrowski in the release. “We have been looking for a partner who could support our plans to expand offerings and services in our core Clarion and surrounding neighborhoods. In fact, our first day together, we were able to provide one of our local customers a product previously not available to us.”
DHS, which was formed in 2000 as the parent company of Central Medical Equipment and East Suburban Medical Supply, has grown into a strong regional provider of HME, employing more than 120.
Terms of the deal were not disclosed.