Standing Wheelchair Manufacturer LEVO AG Acquired by Dane Technologies
Dane Technologies, of Brooklyn Park, Minn., has acquired LEVO AG, of Wohlen, Switzerland, a manufacturer and inventor of stand-up wheelchairs for individuals unable to stand on their own. The Mercanti Group, an investment banking firm headquartered in Minneapolis, acted as financial advisor to Dane.
"We are excited about this opportunity to expand our presence in the U.S.," said Thomas Raeber, president of LEVO AG, which will operate as a wholly owned subsidiary of Dane. "Dane brings a great service network and reputation for customer service to our partnership."
LEVO's existing U.S. operations will be relocated to Brooklyn Park, from Peachtree City, Ga.
The merger brings together LEVO's standing technologies with Dane's service network to enable people with disabilities in North America to experience the mobility, independence and health benefits achieved through the use of stand-up wheelchairs. Health benefits can include relief from pressure ulcers, as well as improved bladder function, digestion, respiration and circulatory activity.
The purchase price of the acquisition was not disclosed.
"LEVO invented the standing wheel chair in 1975," said Dan Johnson, CEO of Dane Technologies. "Since that time they have continued to innovate and deliver leading solutions that combine Swiss engineering and precision with great design and reliability. We are proud to be associated with LEVO's tradition of excellence and leadership in technology."
Dr. Kurt H. Fischer, LEVO founder, intends to retire on May 1. He will remain available as a consultant to Levo.
This article originally appeared in the April 2007 issue of HME Business.