CSGS congratulates Prism Medical, LTD on Medcare Products acquisition
CSGS congratulates client, Prism Medical, LTD of Toronto, Canada, on its acquisition of the manufacturing assets of Medcare Products and a 49% equity interest in the surviving entity in a transaction valued at just under $10.5 million. This transaction was handled by the CSGS team of John Meyer, Laura Al-Shathir, Drew Westbrook and Barb Cavicchia.
Prism is one of the largest providers and manufacturers of durable medical equipment and related services to the mobility challenged in Canada, the US and the UK, with more than 100,000 installations and 200,000 product solutions sold. Prism’s U.S. operations are headquartered in Maryland Heights, Missouri. Medcare’s operations are based in Burnsville, Minnesota (near Minneapolis-St. Paul).
Medcare will continue to supply floor lifts, ceiling lifts, car extractors, slings and transfer aids for the U.S market. Medcare sells these products to the long term care industry and to a growing list of acute care facilities throughout the United States. Medcare was the tenth fastest growing company in Minnesota in 2011, according to the Minneapolis-St. Paul Business Journal.
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