Ancor and Merit sell Carex Health Brands to Tenex Capital Management

Ancor Capital Partners and Merit Capital Partners are pleased to announce the sale of Carex Health Brands to Tenex Capital Management. Carex Health Brands will be merging with Roscoe Medical, another portfolio company of Tenex Capital Management. The transaction will create a combined company well-positioned to better serve the growing home healthcare market, with dominant market distribution across all channels from retail to DME and managed care, with a product portfolio that is second to none.

Ancor and Merit acquired Carex Health Brands in 2010, and led the company through three strategic acquisitions to further diversify its product line and customer base. Carex Health Brands is the market leader of branded home medical equipment sold directly to the consumer through the drug store chains, mass merchants, and grocery retailers. It serves a diversified base of blue-chip and independent retailers who have dramatically increased their shelf space dedicated to home medical products. In addition, Carex offers one of the broadest product lines in the industry including pain therapy and medication compliance aids.

“We are extremely proud of the accomplishments that Carex has made in the three years since we acquired the company,” said J. Randall Keene, Managing Director at Ancor. “During this time frame, we made acquisitions of Detach N’ Go, Uplift Technologies and Thermionics, Inc. The company also experienced organic growth by adding new customers and further penetrating existing customers. We are deeply appreciative of the management team and the partnership they embraced with Ancor and Merit.”

Carex Health Brands markets its products under the Carex, ¬¬Apex, Bed Buddy© and Thera-Med™ brands. The company’s brands have achieved broad customer awareness in the marketplace and are used by home-care patients, the mobility challenged, senior citizens, and, in many cases, the general public.

“The chemistry we had with Ancor and Merit, coupled with their insight and commitment to capitalize external growth, enabled us to build the product and customer diversity that appealed to Roscoe Medical,” said Matt McElduff, President of Carex. “We look forward to this next stage of growth.”

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