Indianapolis-based Home Health Depot Inc. has been acquired by Florida-based Lincare Inc. Financial terms of the deal were not disclosed, however the medical equipment retailer tells Inside INdiana Business the majority of its employees were offered positions at Lincare.
The company started as a single retail store in Greenwood, acquired by David Hartley in 2004, and has grown to include 260 employees across six states. Home Health Depot has locations in Bloomington, Columbus, Fort Wayne, Indianapolis, Lafayette, Marion and Muncie.
Nate Feltman, president and chief executive officer of Home Health Depot, says Lincare plans to keep the Indianapolis locations as they are, while the other stores will be merged with Lincare locations, of which there are more than 20 throughout the state.
During its growth, the company expanded into five divisions. Its Complex Rehab Technology Equipment and Home Access divisions were sold in 2014 and 2016, respectively. Its Atlanta-based subsidiary, Genesis Healthcare Services was also sold earlier this year.
"Building one of the most diverse, patient-focused medical equipment companies in the United States with my long-time friend David Hartley was incredibly rewarding experience," said Feltman. "With the sale of our company in four separate transactions to private equity backed companies, the market validated the incredible company Dave and I built with committed and talented colleagues."
Lincare is a subsidiary of Germany-based Linde Group.