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Synopsis
Drive Medical, medical equipment manufacturer has completed its acquisition of DeVilbiss Healthcare, one of the most valued brands in the respiratory and sleep categories in the healthcare industry. Financial terms were not disclosed. "DeVilbiss has a long history of innovation in respiratory, going back to the 1880s. While their products still enjoy considerable market share, we think there is potential to do much more with the DeVilbiss brand and product line, especially since the sleep market is the fastest-growing segment in the industry. We believe Drive has the experience, resources, and passion to restore DeVilbiss as a leader in the respiratory and sleep markets and put the DeVilbiss name back on top, where it belongs." Harvey P. Diamond, Drive Medical Chief Executive Officer.
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