Drive Medical Acquires Manufacturer and Distributor in Germany
Drive Medical recently announced that it has entered into an agreement as of Dec. 19, 2006, with the Otto Bock group of companies to acquire Peter Endres GmbH & Co. KG (Endres), a manufacturer and distributor of bath lifts and patient aids.
Endres manufactures products through its manufacturing facilities located in Germany and Romania and distributes products throughout Europe with a significant concentration of its sales in Germany and the United Kingdom. Endres' corporate headquarters is located in Isny, Germany. President and CEO Dr. Bernd Ihler will continue to direct the operations of Endres and play a primary role in Drive Medical's expansion into the European marketplace. The acquisition was effective Dec. 31, 2006.
"The acquisition of Endres will position Drive Medical as a global manufacturer and distributor of durable medical products," said Harvey P. Diamond, president and CEO of Drive Medical, in a news release. "With Endres, Drive Medical will enter into the European marketplace with a well-established brand name with significant manufacturing, research and development resources. We are confident that the addition of Dr. Bernd Ihler and the entire Endres management team will contribute significantly to Drive Medical's long-term global expansion program."
This article originally appeared in the January 2007 issue of HME Business.