Minneapolis-based service provider Agiliti, Inc., has agreed to purchase Sizewise Rentals, which manufactures and distributes specialty hospital beds, surfaces, and patient handling equipment, for $230 million. The transaction is slated to close early in the fourth quarter of 2021.
Sizewise produces specialized bed frames, therapeutic surfaces, and mobility equipment—serving more than 3,000 customers in the acute and post-acute care markets. Its products address the needs of bariatric, geriatric, pediatric, and standard patient populations. Sizewise is headquartered in Kansas and operates a nationwide network of 65 local, in-market service branches and four manufacturing centers.
“We are pleased to welcome the Sizewise team and their customers to Agiliti and are excited about merging our best-in-class portfolios of product and service offerings,” says Tom Leonard, CEO of Agiliti. “The acquisition of Sizewise is a perfect example of our ‘overlap and extend’ approach to M&A. The combination builds on our existing geographic footprint and adds relevant scale to our Equipment Solutions service line, while simultaneously expanding our capabilities to bring differentiated products and services to market for our customers.”
The company says the combination enables Agiliti to broaden its portfolio and clinical expertise within the growing specialty equipment services market; expand its total addressable market opportunity; and target meaningful growth and cost reduction synergies.
The company also believes the transaction these key benefits:
- Builds on Agiliti’s at-scale infrastructure—optimizing the companies’ complementary distributed operations networks—including facilities, vehicles, staff, products, and operating systems, which they say will help increase local market presence and support meaningful operating synergies.
- Strengthens Agiliti’s capabilities in the supply chain, permitting greater control over R&D, manufacturing, and logistics for a vital and differentiated product category.
- Expands Agiliti’s value proposition with Sizewise to further address the clinical needs of bariatric patients and those at risk of skin and fall injury.
- Aligns with Agiliti’s end-to-end service model, providing high-utilization devices delivered within a comprehensive service framework.
“Sizewise has spent the past 25 years engineering, manufacturing, and selling products and service solutions that drive value for our healthcare partners,” says Brian Frickey, CEO of Sizewise. “We’re pleased to put that history and experience to work for Agiliti as the combined company continues to be an invaluable source of equipment solutions for caregivers and patients alike.”