Palladium Equity Partners LLC is acquiring a majority equity interest in DME Express, a durable medical equipment provider serving hospice and nursing facilities in the Southeast and Mid-Atlantic regions.
“Palladium expects to partner alongside [DME Express] CEO Mark Borneleit and his founding team, who continue to lead the business,” the private equity firm said in a March 20 news announcement. Palladium is acquiring that majority equity interest from WayPoint Capital Partners, which will retain a minority equity interest.
Terms of the deal were not disclosed.
DME Express, founded in 2006 and headquartered in Houston, has more than 70 locations in Alabama, Georgia, Louisiana, Maryland, Mississippi, Oklahoma, Texas and Virginia to provide hospital beds, respiratory equipment, lift and transfer devices, and mobility equipment under recurring per-patient-day contractual arrangements. The supplier is Palladium’s second investment in the hospice space.
“We are excited about our upcoming partnership with Palladium,” DME Express founder Borneleit said. “Their prior experience in the hospice industry and working with founders seeking to scale their businesses makes them a strong partner to achieve our next phase of growth. We look forward to collaborating together after the closing to expand our geographic footprint, enhance our service capabilities, and pursue strategic acquisitions to better serve hospice providers and the patients they support.”
“I believe the company’s differentiated service model, operating footprint and strong customer relationships position it well for continued growth and align with our prior investment experience in home health and hospice services,” added Daniel Ilundain, Palladium’s president, said of DME Express.
“DME Express represents an exciting opportunity to partner with an experienced founder-led management team in a specialized health care services segment that benefits from demographic tailwinds,” said Rafa Ortiz, Palladium’s head of services.
