Private equity firm Gauge Capital has acquired Reliable Medical, adding another platform to its growing health care portfolio and reinforcing investor interest in the Complex Rehabilitation Technology and mobility segment.
Gauge is teaming up with Reliable to provide growth capital and complete a recapitalization of the Nashville-based company, according to an announcement from the firm. Financial terms of the deal were not disclosed.
“[Reliable CEO Charles Sargeant] and the broader Reliable management team have done an excellent job building a differentiated CRT platform with strong clinical capabilities, durable reimbursement characteristics, and a compelling growth profile,” David Friedman, a partner at Gauge Capital, said in an announcement. “We have been impressed by Reliable’s operational discipline, its ability to recruit and develop ATP talent, and its track record of executing both organic growth and strategic acquisitions.”
Founded in 1989, Reliable Medical is a national provider of complex rehabilitation technology and related mobility and home medical equipment solutions.
The transaction positions Reliable for its next phase of expansion while maintaining its current leadership team, according to Gauge.
“We are thrilled to partner with the team in this next chapter,” Friedman said.
Gauge acquired Reliable from Seven Hills Capital, which first invested in the company in 2018 and recapitalized the business in 2023. During its ownership, Seven Hills supported Reliable’s geographic expansion and helped build out the platform in a fragmented CRT and mobility market. Harris Williams served as financial adviser to Reliable on the transaction.
As part of the deal, Gauge executives Friedman, Alex Asbill and Alex Amato joined Reliable’s board of directors.
Gauge Capital, based in Southlake, Texas, is a middle-market private equity firm managing more than $3 billion in capital. The firm invests across five sectors, including health care, and has increasingly focused on services businesses with recurring demand and defensible reimbursement profiles. Its health care portfolio includes Children’s Choice Pediatric Dental Care, Comprehensive EyeCare Partners, Lucent Health and Streamline Healthcare Solutions.
The acquisition comes as private equity firms continue to target CRT and mobility providers that combine clinical specialization with scale.
“Reliable was founded with a people-first mindset and a deep commitment to clinical excellence,” Sargeant said in the announcement. “We are proud of the team we’ve built and the care we provide to the people we serve.”
Neither Gauge Capital nor Reliable Medical responded to a request for comment prior to publication.
