October 19, 2016 05:45 AM | Covington Associates
BOSTON, MA – October 19, 2016 – Covington Associates LLC, a leading middle market investment bank, announced its role as exclusive advisor to AMG Medical, a Canadian based manufacturer and distributor of medical products, in the sale of four durable medical equipment brands (the “AMG Brands”) to Drive DeVilbiss, a US based medical product manufacturer. Tom Cibotti, Managing Director at Covington Associates stated, “The AMG Medical team built a strong portfolio of brands that have a unique position as a recognized leader in the Canadian market. Drive DeVilbiss has scale and momentum that position their business to further grow in Canada and to further expand the AMG Brands internationally.”
Philip del Buey, President of AMG Medical, stated, “We are delighted that our brands will be in the hands of one of the leading global manufacturers of durable medical equipment. Like AMG, Drive is dedicated to providing high quality products and first-class service to its customers. By aligning these important brands with Drive, we foresee major growth for them.”
Mr. del Buey added, “Covington’s deep healthcare expertise and transaction experience provided us with a range of transaction opportunities. Covington played a key role in developing the marketing materials and in communicating our value proposition to prospective buyers. Their knowledge of the healthcare landscape and experience with complex international transactions was paramount in the ultimate execution of this transaction.”
About Drive DeVilbiss Healthcare
Headquartered in Port Washington, New York, Drive DeVilbiss Healthcare manufactures a complete line of medical products, including mobility products, sleep and respiratory products, beds, bariatric products, wheelchairs, sleep surfaces and pressure prevention products, self-assist products, power operated wheelchairs, rehabilitation products, patient room equipment, personal care products and electrotherapy devices. Currently, the Company has corporate offices, manufacturing facilities and distribution facilities located throughout the United States, Canada, the United Kingdom, France, Germany, China, Hong Kong, Romania, Australia, the Netherlands and India. The Company markets its products to customers located throughout the United States, Europe, Canada, Mexico, Central and South America, the Middle East and Asia. For more information, visit www.drivemedical.com.
About AMG Medical Inc.
AMG Medical Inc. manufactures, imports, packages and distributes home healthcare and medical professional products. The Company’s broad product line includes more than 3,500 products that deliver freedom and empower people to live and feel better. For more information, visit www.amgmedical.com.