InfuSystem Acquires Biomedical Services Company to Expand DME Services Platform
InfuSystem Holdings, Inc. (NYSE American: INFU) has announced the acquisition of FilAMed, a biomedical services company based in Bakersfield, CA. Although the terms of the transaction were not disclosed, CEO Richard DiIorio emphasized the strategic importance of this acquisition in expanding InfuSystem's capabilities within its Durable Medical Equipment Services (DME) platform. The acquisition aims to enhance service offerings such as compression devices and patient monitors, while providing a broader range of services and facilitating entry into the acute care market.
- Acquisition of FilAMed expands InfuSystem's service offerings and capabilities.
- Entry into the acute care market enhances growth potential.
- Synergistic benefits expected from the integration of FilAMed's services.
- None.
Rochester Hills, Michigan, Feb. 03, 2021 (GLOBE NEWSWIRE) -- InfuSystem Holdings, Inc. (NYSE American: INFU), (“InfuSystem” or the “Company), a leading national health care service provider, facilitating outpatient care for durable medical equipment manufacturers and health care providers, today announced it has acquired FilAMed, a privately held biomedical services company, based in Bakersfield, CA. Terms of the transaction were not disclosed.
Richard DiIorio, chief executive officer of InfuSystem, said, “We are pleased with the synergistic acquisition of FilAMed, as we execute on our strategic growth initiative to grow our two operating platforms – Integrated Therapy Services (ITS) and Durable Medical Equipment Services (DME). The addition of FilAMed broadens and enhances our scope of biomedical services within our DME platform and provides us the opportunity to enter the acute care market. Our customers will benefit from a broader range of services including compression devices, defibrillators, electrosurgical units (ESU), and patient monitors. We welcome FilAMed’s employees and customers to InfuSystem and look forward to a seamless integration with uninterrupted customer service.”
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. (NYSE American: INFU), is a leading national health care service provider, facilitating outpatient care for durable medical equipment manufacturers and health care providers. INFU services are provided under a two-platform model. The lead platform is Integrated Therapy Services (“ITS”), providing the last-mile solution for clinic-to-home healthcare where the continuing treatment involves complex durable medical equipment and services. The ITS segment is comprised of Oncology, Pain Management, and Wound Therapy businesses. The second platform, Durable Medical Equipment Services (“DME Services”), supports the ITS platform and leverages strong service orientation to win incremental business from its direct payor clients. The DME Services segment is comprised of direct payor rentals, pump and consumable sales, and biomedical services and repair. Headquartered in Rochester Hills, Michigan, the Company delivers local, field-based customer support and also operates Centers of Excellence in Michigan, Kansas, California, Massachusetts and Ontario, Canada.
Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as statements relating to future actions, business plans, objectives and prospects, future operating or financial performance. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “strategy,” “future,” “likely,” variations of such words, and other similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Forward-looking statements are subject to factors, risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the uncertain impact of the COVID-19 pandemic, our dependence on estimates of collectible revenue, potential litigation, changes in third-party reimbursement processes, changes in law and other risk factors disclosed in the Company’s most recent annual report on Form 10-K and, to the extent applicable, quarterly reports on Form 10-Q. All forward-looking statements made in this press release speak only as of the date hereof. We do not undertake any obligation to update any forward-looking statements to reflect future events or circumstances, except as required by law.
Additional information about InfuSystem Holdings, Inc. is available at www.infusystem.com.
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