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Drive Medical Limited Acquires Park House Healthcare

Drive Medical Limited Acquires Park House Healthcare

Drive Medical Limited Acquires Park House Healthcare

Port Washington, New York – April 1, 2015

Drive Medical, a global manufacturer of durable medical equipment, is pleased to announce that its wholly-owned subsidiary, Drive Medical Limited of the U.K., has acquired Park House Healthcare, a worldwide manufacturer of pressure prevention products, hospital and long-term care beds, and moving and handling equipment.

Founded in 1984 and based in West Yorkshire, U.K., Park House Healthcare's innovative product portfolio includes a wide range of clinically proven healthcare solutions, fully supported by clinical training programs to the U.K.'s National Health Service, acute community and nursing home sectors. The company operates from a state-of-the-art corporate headquarters, with its service, training and distribution centers strategically located throughout the U.K. The company's international distribution network extends to more than 25 countries.

Harvey P. Diamond, Chairman and CEO of Drive Medical states, “We are excited to welcome Park House Healthcare into the Drive family of companies. This is a strategic acquisition for Drive Medical and will greatly enhance our global stature in the rapidly growing markets of pressure prevention and long term care. Furthermore, with this acquisition Drive gains a seasoned management team, led by Stephen Owens, who will bring a wealth of knowledge and experience to our organization."

Richard Kolodny, President of Drive Medical said, "The Park House acquisition extends our already significant presence in Europe, providing us with a full line of pressure prevention mattresses to complement Drive's extensive product portfolio of long-term care beds. Park House will also expand Drive's footprint into the National Health Service and long-term care markets in the U.K."

Richard McGleenan, Managing Director of Drive Medical Limited continues, "Park House Healthcare has established a leading reputation for providing high quality, innovative products and services to their customers. With over 25 distributors worldwide and over 30 years of healthcare experience in the UK, this is a key acquisition for Drive and extends our product portfolio in the pressure prevention and long-term care market segments. We look forward to working with Stephen and his team in expanding our business in this specialized area."

Terms of the acquisition were not disclosed.

About Drive Medical
Drive Medical manufactures a complete line of durable medical equipment including mobility products, beds, bariatric products, wheelchairs, sleep surfaces and pressure prevention products, respiratory equipment, self-assist products, power operated wheelchairs, rehabilitation products, patient room equipment, personal care products and electrotherapy devices. Currently, the Company has corporate offices and distribution facilities in the United States, Canada, the United Kingdom, France, Germany, Romania, Australia, China and Taiwan. The Company markets its products to customers located throughout the United States, Europe, Canada, Mexico, South America, Latin America, the Middle East and Asia. Drive Medical is one of the fastest growing major manufacturers and distributors of durable medical equipment.