14:08 ET The Braff Group Advises Hart Medical Equipment on its acquisition by Quipt Home Medical

, /PRNewswire/ -- Quipt Home Medical ("Quipt"), a U.S. based home medical equipment provider focused on end-to-end respiratory has formed a joint venture with three major health systems and hospitals and as part of the agreement, Quipt will acquire a 60% ownership interest in Flint, Mich.-based Hart Medical Equipment for about $17 million. The remaining interest in Hart Medical will be collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital and The Bellevue Hospital. The Braff Group served as the exclusive financial advisor for Hart Medical Equipment. Quipt says this strategic transaction is expected to enhance its presence in the Midwest, add deep health care system partnerships, and provide the company with immediate entry into Michigan, a large and strategically important market, and new territories in Ohio. Hart Medical current executive, Allen Hunt, stated, "As a DME provider deeply embedded in the needs of health systems, we continue to see extraordinary, untapped potential in our space. The recent wave of consolidation across key markets has made one thing clear: to remain relevant and accelerate growth in today's dynamic healthcare environment, additional scale is no longer optional, even for organizations like ours generating over $60 million annually. Recognizing this, we embarked on a rigorous search for a partner who could not only deliver the operational and technological scale we needed, but also share our commitment to serving the specialized needs of health system partners. In Quipt, we found that partner. Quipt brings more than just scale. Their patient-centered leadership, innovative mindset, and cultural alignment with our own make them an ideal match. Together, we are now positioned to seize the significant growth opportunities emerging throughout our service area." "The Home Medical Equipment landscape continues to evolve. Size and scale become more important with every change by Medicare Advantage plans, competitive bidding changes, and ever more complex data request by value-added care partners. Hart Medical Equipment, sizeable in its own right, pursued a transaction to secure its future and enhance its ability to service its patients," commented Pat Clifford, The Braff Group Managing Director that headed up the deal team representing Hart Medical Equipment. About The Braff Group: Founded in 1998, The Braff Group is the leading health care advisory firm specializing exclusively in behavioral health, home health, home care and hospice, health care staffing, home medical equipment and pharmacy services. The firm has completed over 385 transactions and has been repeatedly ranked among the top five health care mergers and acquisitions advisory firms. Visit thebraffgroup.com and follow The Braff Group on LinkedIn. Contact: Karen Cullen [email protected] SOURCE The Braff Group