Graham-Field Acquires Hausted Patient Handling Systems, LLC
Atlanta, Georgia, June 7, 2013: FOR IMMEDIATE RELEASE
GF Health Products, Inc (“Graham-Field”) announced today that it will acquire substantially
all of the assets of Hausted Patient Handling Systems, LLC (“Hausted”), a portfolio company of 3 Rivers Capital, LLC (“3RC”). Hausted is a manufacturer of patient handling equipment, including stretchers and chairs, used by hospital patient transport, radiology, outpatient, emergency and operating rooms within health care facilities. The transaction is scheduled to close on June 30, 2013.
“We are extremely excited about combining Hausted with Graham-Field to maximize our product and marketing opportunities within the acute care market. This acquisition will allow Graham-Field to provide an integrated system of products for the care, treatment and transport of patients in hospitals, same-day surgery centers and specialty clinics. The Hausted product line provides innovative, safe and effective solutions for patient handling, positioning and procedural requirements. The acquisition will also expand our ‘Made in USA’ Strategic Initiative and will enhance the market potential of Graham-Field’s existing Lumex®, Everest&Jennings® and Simmons Clinical Care™ products,”stated Ken Spett, President and CEO of Graham-Field.
The Hausted Brand
Since 1949, the Hausted® brand has been well respected within the health care industry and has a strong domestic and international customer base. Graham-Field is currently a supply partner to Hausted for steel components and will relocate the existing Hausted manufacturing equipment and processes to its expanded 157,000 sq. ft. Fond du Lac, WI steel fabrication and 103,000 sq. ft. Doraville, GA mattress facilities. “Our investment in automated, lean manufacturing technology and engineering in our Fond du Lac facility will allow Graham-Field to build on the great heritage of Hausted and enhance the features and capabilities of the Hausted product line,” added Spett.
3 Rivers Capital (3RC)
3RC is a Pittsburgh-based, micro-cap private equity firm focused on investing in companies with EBITDA of up to $7.0M. Its primary focus is on acquiring niche manufacturing, value-added distribution, or service businesses based in the Mid-Atlantic and/or Midwest regions of the United States.
Headquartered in Atlanta, Georgia, with more than 300 US-based employees, GF Health Products, Inc. is a major manufacturer of healthcare products for the acute care, extended care, homecare and primary care markets. The Graham-Field family of brands includes Basic American Medical Products, Everest & Jennings, Grafco, Hausted, John Bunn, Labtron, Lumex and Lumiscope. Visit www.grahamfield.com or call 770-368-4700.
GF Health Products, Inc.