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Acquisition Provides Strengthened Position in the Rehabilitation Market, Both Domestically and Abroad
Cleveland, Ohio, September, 2017 – Compass Health Brands, a leading provider of medical devices used for homecare, rehabilitation, and pain management, today announced the acquisition of Richmar. Terms of the purchase are not being disclosed.
Headquartered in Chattanooga, Tennessee, Richmar is a leading developer, manufacturer and marketer of a comprehensive range of high quality devices and consumables used by therapists, athletic trainers, chiropractors, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, traumatic events and sports-related injuries. Its products include Winner EVO electrical stimulation, combination, and ultrasound; Hivamat deep oscillation therapy; Hydratherm heat therapy products; Ionto+ iontophoresis and Superstim/Multistim stimulation electrodes; LidoFlex™ lidocaine patches; GelShot ultrasound coupling discs and several laser and light therapy items.
Compass Health and Richmar have both established strong positions in the rehabilitation market. Richmar has a 50-year legacy in the industry and is well-known for its quality manufacturing. Each have complementary products in the rehabilitation and pain management markets and, when combined, will offer a broader go-to-market approach through multiple sales channels. This dynamic combination is expected to provide improved value and service by rapidly utilizing the existing capabilities and product portfolios of both companies.
“We are delighted to welcome the Richmar team to the Compass Health Brands family,” said Stuart Straus, President and Chief Executive Officer of Compass Health. “The combination of our brands, teams, and resources will allow us to develop more innovative products to better care for the needs of patients and caregivers while also enhancing our customers’ business success. This strategic fit, both in the U.S. and overseas, is absolutely compelling and we look forward to further enhancing and satisfying the current Richmar distribution partners.”
“We are excited to be joining Compass Health Brands,” added Chad Morgan, President of Richmar. “Being part of such a rapidly accelerating organization will bring significant opportunities for continued organic growth and product innovation in the market segments we serve.”
Compass Health Brands’ acquisition of Richmar follows on the heels of the company’s purchase of both the ProBasics and Meridian Medical brands. The new addition of Richmar further diversifies and strengthens Compass Health Brands’ extensive and ever-growing portfolio of innovative healthcare products that promote consumer independence and quality of life.
About Compass Health Brands
Compass Health Brands manufactures and distributes a broad range of innovative and high-quality homecare, rehabilitation, and pain management products that enable consumers to live healthier, more independent lives. The company’s therapy product line includes electrotherapy, ultrasound, clinical devices, topical analgesics, conductive garments and braces, hot/cold therapy, and therapeutic pillows. Its home medical equipment line includes bath safety, personal care, durable medical equipment, support surfaces, pressure prevention, mobility, pain management, respiratory, health aids, and medication compliance. Compass Health Brands markets its products to both professional and consumer sectors. Professional brands include ProBasics, Meridian Medical, Roscoe Medical, and InTENSity, and are sold through a professional independent dealer/distributor network. Consumer brands include Carex, AccuRelief, Apex, Bed Buddy and TheraMed, and are sold through drug store chains, drug wholesalers, mass merchants, and grocery retailers. For more information, visit www.compasshealthbrands.com.
New technology allows patients to scan themselves, saving staff time; shareable Report of Findings boosts referrals
ROANOKE, VA—September 18, 2017—Celebrating 65 years of serving Chiropractic, Foot Levelers has introduced its latest advancement, the single-foot Kiosk. This revolutionary scanning device is designed to help healthcare providers save time, ensure all patients are scanned for orthotics, and increase referrals to their practice.
Patients Scan Themselves, Orthotic Usage Increases: Statistics prove that the Foot Levelers Kiosk helps doctors increase the number of patients they fit for custom orthotics. By going in the practice’s reception area, the Kiosk allows patients to scan themselves, before the doctor’s exam even begins. This saves the staff time, allowing them to spend more time reviewing the comprehensive Report of Findings with each patient.
Doctors who have already integrated the Kiosk into their practices have seen orthotic usage skyrocket, some by as much as 100%. Better outcomes for patients, better income for the practice.
Shareable Report of Findings, Increase Referrals: The Foot Levelers single-foot Kiosk offers two Report of Findings. The most comprehensive is the doctor’s version, which should be reviewed with every patient.
But new to the Kiosk software is a Report of Findings that is emailed to each patient, before they even step off the scanner. This new report is shareable on several social media platforms. When the report is shared with friends and family, referrals to the practice increase, resulting in a steady stream of new patients.
Invitation to Foot Levelers Training Center: With each single-foot Kiosk comes an invitation to one of Foot Levelers’ FREE Training Center events. The Training Center is an extensive, half-day session that focuses on improving outcomes and income through increased orthotic usage. Data shows attendees of the Training Center have seen an increase in orthotic usage by up to 400%.
The new, single-foot scanning Kiosk is part of an ongoing story of growth for the 65-year-old company. Started as a small, family business in Dubuque, Iowa in 1952, today Foot Levelers serves thousands of providers and millions of patients in over 85 countries. In 2014, Foot Levelers opened an office in Sydney, Australia, followed by a second in Belgrade, Serbia in 2016. Foot Levelers has long been the leader in orthotics for Chiropractic patients, with an expanding presence in Physical Therapy, Podiatry, Family Medicine, Massage Therapy, and Acupuncture, among other health disciplines.
In September, the Archives of Physical Medicine and Rehabilitation published a watershed study proving that Foot Levelers custom orthotics, particularly in conjunction with Chiropractic care, significantly reduce Low Back Pain (LBP)—by 40.4 percent. This study is critically important because the National Institutes of Health (NIH) reports 80 percent of adults experience LBP. LBP is the single leading cause of disability worldwide, with many patients taking dangerous opioids for relief. “Foot Levelers and Chiropractic can make a difference in the opioid crisis,” Greenawalt adds.
About Foot Levelers, Inc.: Foot Levelers, Inc., the world’s leading provider of custom–made functional orthotics and other therapeutic products, has been serving healthcare professionals for over 65 years. Visit FootLevelers.com, like us on Facebook, and follow us on Twitter (@FootLevelers).