BREAKING: Prism Medical UK notches second acquisition of 2019 with purchase of North East manufacturer
A month on from its acquisition of patient lifting and bathing supplier Assured Healthcare (Scotland), Prism Medical UK has announced its second acquisition of 2019 with the purchase of County Durham-based Care-ability Healthcare.
Established by David and Penny Tilly in 1998 as a small, family-run maintenance and service dealer, Care-ability Healthcare has grown to become a recognised manufacturer of a range of quality sling products, as well as supplier of a wide range of moving and handling the equipment.
Employing over 50 members of staff, the County Durham company is firmly established in the northeast of England and Cumbria, where it holds large installation, service and maintenance contracts with local authorities, hospitals and private nursing homes and the NHS.
Now part of the expanding Prism Medical UK portfolio, the acquisition will increase Prism Medical UK’s product and service offering, along with its UK manufacturing footprint, taking the Group’s tally of production facilities to four after acquiring Smirthwaite and Mackworth Healthcare in 2015.
In addition, the purchase of Care-ability will inject expert knowledge and skills to its customer base, particularly in the North East of England, confirmed Prism Medical UK.
With manufacturing and service sites around the UK supporting a range of customers including schools, hospitals, care homes and retailers, Prism Medical is a specialist in the moving & handling and bathing equipment sector.
In April 2014, the company underwent an MBO backed by private equity firm LDC, growing considerably in the years that followed through a number of strategic acquisitions.
At the end of 2018, the established manufacturer was sold to Limerston Capital, with the private equity company’s founding partner confirming Prism would be back on the acquisition trail as it aims to achieve its ambitious growth goals.
The company now operates from eight UK locations, employing around 450 staff delivering a portfolio of 180 products, driving growth in the UK market and a number of international markets including China and Australia.
The market is moving and shaking
Prism Medical’s second acquisition comes amid a flurry of activity in the moving and handling sector over recent weeks, with Scandinavian-manufacturers Etac and Arjo both investing in US-based moving and handling companies.
On the other side of the Atlantic, Canadian-based Savaria, a large-scale moving and handling and mobility equipment manufacturer, made its move to establish a foothold in the growing global patient sling market and the UK market with its impending acquisition of the Silvalea Group.
In a reversal of fate, Joerns Healthcare LLC, a long-established industry player that has helped shape the market, announced it has filed for bankruptcy protection in the US in order to restructure and reduce its “substantial” debt.
With recent market research suggesting the Global Patient Handling Equipment Market could see eye-watering growth over the next six years, growing from £9.1billion in 2017 to £20.21billion by 2025, manufacturers in the sector will continue to manoeuvre in order to be best placed to take advantage of the booming global demand.https://thiis.co.uk/prism-medical-notches-second-acquisition-of-2019-with-purchase-of-north-east-manufacturer/https://i1.wp.com/thiis.co.uk/wp-content/uploads/2019/07/care-ability-healthcare.jpg?fit=1000%2C613&ssl=1https://i1.wp.com/thiis.co.uk/wp-content/uploads/2019/07/care-ability-healthcare.jpg?resize=150%2C150&ssl=1Mergers & AcquisitionsNewsroomSupplier Newsacquisition,Arjo,Assured Healthcare,Australia,Care-ability Healthcare,china,Etac,Joerns Healthcare LLC,LDC,Limerston Capital,Mackworth Healthcare,moving and handling,North East,patient handling,Prism Medical UK,private equity firm,Savaria,silvalea,SmirthwaiteA month on from its acquisition of patient lifting and bathing supplier Assured Healthcare (Scotland), Prism Medical UK has announced its second acquisition of 2019 with the purchase of County Durham-based Care-ability Healthcare. Established by David and Penny Tilly in 1998 as a small, family-run maintenance and service dealer, Care-ability...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine