National Seating & Mobility (NMS), a portfolio company of New York City-based private equity firm Court Square Capital Partners, announced that it acquired AdaptHealth‘s complex rehabilitation technology assets. According to data captured in the LevinPro HC database, this acquisition marks the 59th Home Health & Hospice transaction of the year.
AdaptHealth specializes in home medical equipment and in-home care solutions across the United States.
NMS provides rehabilitation technology solutions focusing on highly customized wheelchairs for patients diagnosed with long-term or permanent loss of mobility. NMS operates through rehabilitation technician specialists who connect with physicians and physical therapists.
AdaptHealth is focused on shedding some non-core assets, AdaptHealth executives said during the company’s Q2 2024 earnings call on August 6, 2024.
“We are evaluating non-core assets, rationalizing our footprint, and we are paying down debt,” CEO Suzanne Foster said during the call. “All these efforts are focused on increasing our free cash flow yield.”
The divestment, in combination with investments in sales forces, IT and clinical and operational talent, will allow AdaptHealth to continue to grow in its core markets. Financial terms of the deal were not disclosed.
