Dynamic Healthcare Services Inc. and Lakewood Capital LLC have acquired Hackensack, N.J. provider Reliable Home Medical Equipment Inc. The terms of the acquisition were not disclosed.
A full line home medical equipment provider of respiratory, sleep, mobility and other DME products and services to customers in the New York and New Jersey metro market, Reliable was founded in 2004 by brothers Jerry and Rob O’Connor along with Deon DeFreitas. Rob O’Connor and DeFreitas will continue managing Reliable’s operations as part of the DHS acquisition.
“Reliable’s presence in the northern New Jersey market and their Round Two Competitive Bid contract in the Southern New York Metro CBA combined with the Northern New Jersey Metro CBA contract that DHS was already awarded gives us an amazing advantage across the New York and New Jersey metro market,” said Michael Holloway, president of GMH Ventures, of which Dynamic Healthcare Services is a portfolio company. “The team at Reliable has developed an impeccable reputation with their referral partners and customers.
“When you combine that with the support, infrastructure and guidance from both the DHS and GMH teams, I am very confident about our growth and development in this market,” he continued. “We are all excited to have Reliable join our DHS family of companies, and to begin working closely with Rob and Deon on expanding even further into these new locations.”
“We are extremely pleased that Reliable Medical chose to join the DHS team,” said Terry Luft, vice chairman of DHS. “With their long-standing reputation of support for their referral sources and commitment to their patients, Reliable epitomizes how DHS approaches the health care market. Combining our resources with Reliable’s experienced workforce and deep network provides us with a platform to serve our constituents like never before.
“Reliable’s co-founders, Rob O’Connor and Deon DeFreitas, and I are excited about expanding our combined efforts to serve the growing needs for respiratory and HME products and services throughout the state of New Jersey,” he added.