MINNEAPOLIS, September 14, 2021-( BUSINESS WIRE)-Agiliti, Inc. (NYSE: AGTI) ("Agiliti" or "the Company"), an essential service provider to the U.S. healthcare industry, today announced that it has entered into a definitive agreement to acquire Sizewise Rentals, LLC, ("Sizewise"), a manufacturer and distributor of specialty hospital beds, surfaces and patient handling equipment, in a stock purchase transaction valued at $230 million or approximately 7.7x Adjusted EBITDA for the twelve months ended June 30, 2021. Agiliti intends to finance the transaction through a combination of cash and debt. The Boards of Directors of both companies have unanimously approved the agreement. Subject to the satisfaction of customary closing conditions, the transaction is expected to close early in the fourth quarter of 2021. #SIZEWISE BARIATRIC BED UPDATE#įollowing the close of the transaction, Agiliti will provide an update to its full year 2021 financial guidance at the time it reports quarterly results for the period ending September 30, 2021. Sizewise is a leading manufacturer and provider of specialized bed frames, therapeutic surfaces and mobility equipment serving more than 3,000 customers in the acute and post-acute care markets with products that address the needs of bariatric, geriatric, pediatric and standard patient populations. For the twelve months ended June 30, 2021, the business generated revenues of $155 million and Adjusted EBITDA of $30 million, inclusive of an estimated benefit from COVID-19 of approximately $5 million in Adjusted EBITDA. The SW Low Boy will transport in any high/low position to assist in reducing the risk of care provider injury and workers’ compensation claims it will also go into a modified Cardiac Chair position with Trendelenburg and Reverse Trendelenburg to address patient care needs.Sizewise is headquartered in Kansas and operates a 24/7 nationwide network of 65 local, in-market service branches and four manufacturing centers. The bed has two separate control functions with lockout capabilities that provide safety for the patient and peace of mind for the care provider. With its unlimited height adjustments to 31”, the SW Low Boy allows patients to enter or exit the bed comfortably and safely. With the use of a remote control and some models also include The Sizewise hospital bed is a full electric hospitalīed with up and down, head up and down, foot up andĭown and Trendelenburg positions. Only 10 inches off the ground and help prevent Referred to as “low beds”, these hospital beds sit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |