Clayton, Dubilier & Rice has completed the equity investment by CD&R-managed funds and existing management in Drive DeVilbiss Healthcare.
Terms of the transaction have not been disclosed.
The new partnership with CD&R 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 growth in the years ahead.
Formed in 2000, Drive has become a leading manufacturer of durable medical equipment with a strong and consistent track record of growth achieved both organically and through acquisitions.
The company’s product portfolio, channel footprint and global operating scale were built by its executive leadership team to take advantage of favourable underlying demographic and industry trends.
Drive’s products include a full suite of mobility, respiratory, sleep, bath and personal care, specialty beds, pressure prevention, rehabilitation and other related products, and are sold into the homecare, long-term care, retail and e-commerce channels.
Drive serves a customer base of more than 15,000 dealers, home healthcare providers, healthcare distributors, retailers and e-commerce companies and sells its branded products in more than 80 countries around the world.
