Drive Medical Buys Inovo/CHAD Therapeutics
The move aims to expand Drive’s presence in the respiratory for homecare, as well as long-term, hospital and emergency care markets.
- By David Kopf
- Oct 13, 2011
Drive Medical has acquired respiratory manufacturer Inovo, Inc./CHAD Therapeutics. This comes after Inovo’s 2008 acquisition of CHAD Therapeutics, which positioned Inovo as a leading manufacturer of pneumatic and electronic oxygen conserving devices in the industry. Terms of the Drive-Inovo/CHAD acquisition were not disclosed.
Inovo makes oxygen conserving devices, regulators and other respiratory products for the homecare, long-term care, hospital and emergency markets. Inovo manufactures a broad line of patented oxygen conserving devices and regulators under private label for several leading manufacturers and distributors in the industry, as well as under its CHAD Therapeutics brand.
Inovo will operate as a stand-alone division of Drive and will continue to manufacture its products from its state-of-the-art, ISO certified facilities located in Naples, Fla. under the direction of George Harris, who will continue in his capacity as CEO of Inovo, and Michael Mulroy, the President of Inovo.
“Inovo will provide Drive with significant research and development capabilities,” said Harvey Diamond, chairman and CEO of Drive Medical. “We are pleased to welcome Inovo into the Drive family. Inovo’s market leadership and strength of their respiratory product portfolio is another important component in our plans for continued growth in the respiratory product category,” states
“We are looking forward to becoming part of the Drive team,” added George Harris, CEO of Inovo states. “Being part of the Drive organization will bring significant opportunities for Inovo to grow its business within the industry.”
David Kopf is the Editor of HME Business.