Handicare acquires Prism Medical Ltd.2016-09-01
Kista, Sweden (September 1, 2016) Handicare announced today the acquisition of Prism Medical Ltd - a successful patient handling company in North America located in Toronto, Canada and St. Louis, USA. Prism Medical has a proven track record of profitable growth and is a significant player in the Ceiling Lift and Patient Handling market in North America.
Prism Medical’s revenue for 2016 will be in the range of 50M USD with 250 people employed. The new combined product portfolio and sales network will put Handicare in a top tier position in North America. The combined product portfolio will later in 2016 be available to both Prism Medical’s and Handicare’s customers worldwide. Moreover, Prism Medical dealers in North America will now have access to Handicare’s stairlifts product range.
Charley Wallace will assume the role as President & CEO of Handicare North America and Ross Scavuzzo will continue to lead in Canada, as President of Handicare Canada.
Asbjörn Eskild, CEO of Handicare Group, says: “We have for a period searched for a company that can support Handicare’s growth strategy in North America. A healthy company that also shares our values and puts the customer and patient in focus. Prism Medical is a perfect match to us”.
Prism Medical manufactures a broad range of high-quality products, including fixed ceiling lifts, portable ceiling lifts, floor lifts, slings, and other ancillary patient handling products, and provides related sales, installation, training and maintenance services through a combination of direct sales, regional sales and service centres, and independent dealers. Prism Medical also sources and distributes third party products such as stairlifts, baths, and beds to customers in each market that it serves, to provide a complete service solution and leverage the company's well-established distribution channels.
Handicare was founded in 1986 and supplies technical aids for the elderly and physically disabled. Its products include stairlifts, transfer and lifting products, automobile adaptation solutions and homecare products. Handicare's brand products are distributed through a comprehensive network of professional dealers and distributors in 30 countries around the world. Through its subsidiary Puls, the group is also a market leader in the sale of capital goods and consumables to hospitals and institutions in Norway. Handicare has 950 employees and its headquarters in Kista, Sweden, and has subsidiaries in Norway, Denmark, Germany, the Netherlands, England, Belgium, France, and the US. For more information, please see www.handicare.com.
ABOUT PRISM MEDICAL
Prism Medical is a vertically integrated manufacturer and leading provider of equipment and services used to move and handle mobility challenged individuals in a safe and dignified manner. Prism Medical's products are marketed under the brand names of Prism Medical, ErgoSafe, Waverley Glen and Nightingale in the homecare, acute care and long-term care markets throughout North America. Prism Medical offers solutions that encourage improved care, quality of life and mobility, while seeking to lower the overall cost of the caregiving function in a number of ways, including reducing the incidence of handling-related injuries among caregivers. Through its network of dealers, Prism Medical provides an integrated suite of products and services that make homecare a viable option for many people. For further information visit Prism Medical's website at www.prismmedicalltd.com or www.sedar.com.
For more information, contact:
CEO, Handicare Group firstname.lastname@example.org
Managing Director, Handicare Patient Handing