Houston-based US Med-Equip (USME) has partnered with Freeman Spogli & Co., Los Angeles. USME’s founders, Gurmit Bhatia and Greg Salario, along with their management team will continue to lead the company as they embark on the next phase of growth. Specific terms of the transaction were not disclosed.
Houston-headquartered USME partners with hospitals across the United States in the rental, sale, service, and asset management of movable medical equipment including diagnostic and clinical devices ranging from infusion pumps and patient monitors to ventilators, newborn incubators, and more. Founded in 2003, USME is a rapidly growing distributor and provider of moveable medical equipment rentals with more than 40 locations across 23 states, serving more than 1,600 hospital customers with more than 60,000 units in its equipment fleet.
“We are thrilled to partner with Freeman Spogli as USME enters this next chapter of growth for our company,” says Gurmit Bhatia, co-founder and CEO of USME. “Our new partnership will allow us to accelerate our ongoing national expansion and to support more healthcare providers throughout the U.S. Medical staff are facing record demands, and our commitment to support hospitals, from major medical centers to underserved rural hospitals, is stronger than ever with Freeman Spogli on our team.”
“The USME team has done a terrific job building the company into a leading provider and distributor of moveable medical equipment rentals,” says Chris Johnson, a partner at Freeman Spogli. “With hospital admissions fluctuating heavily throughout the year and day-to-day operations significantly stressed by the ongoing viral outbreak, healthcare providers are increasingly turning to smarter and more efficient options from trusted partners like US Med-Equip to ensure they provide patients the best care possible. We are excited to provide USME with additional resources to continue their support of front-line workers and hospitals nationwide.”
Affiliates of private equity firm, Owner Resource Group (“ORG”), which supported USME through an investment in the company in 2017, will retain an ownership stake in the company as part of this transaction.