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RecoverCare and Sten+Barr Medical Announce Merger Agreement
(Plymouth Meeting, PA, December 20, 2006) –
RecoverCare and Sten+Barr Medical
announced today they have signed an agreement to combine the two
companies. Both organizations provide therapeutic support surfaces,
specialty beds and bariatric equipment to hospitals, nursing homes and
home care patients. The merger will complement RecoverCare’s strong
Northeastern and Midwestern presence with Sten+Barr’s concentration in
the Southeast and Texas. Through Sten+Barr’s dealer network, the
newly combined company will service the entire continental United
States. The deal will close January 2007. “RecoverCare has an excellent reputation in the marketplace and we are ecstatic about the united company’s potential,” said Micheal Cole, Sten+Barr’s president. “Their solid presence in the acute care and home care market and their ownership of a bariatric manufacturer complements our own strengths in long term care. We believe the combination will result in even better service to both companies existing customers and prospects.” ABOUT RECOVERCARE RecoverCare, LLC. (www.RecoverCare.com) provides support surface and wound care products, bariatric products and safe patient handling products to acute care hospitals, nursing homes, and other providers of wound care services. The company also manufactures bariatric beds and equipment under the Camtec manufacturing division. RecoverCare is based in Plymouth Meeting, PA. ABOUT STEN+BARR MEDICAL, INC. Sten+Barr Medical, Inc. delivers wound care, bariatric care and patient safety solutions to healthcare facilities nationwide via 70 service centers. The company serves skilled nursing homes, rehabilitation hospitals, long-term acute care hospitals, hospice care, acute care hospitals and home care patients. Sten+Barr’s product lines include therapeutic mattresses for wound care, bariatric equipment for care of obese patients and specialty beds and equipment for patient safety. In addition to providing just-in-time equipment rental programs, Sten+Barr also supplies clinical expertise and procurement flexibility to deliver cost efficient, clinically effective patient outcomes. Sten+Barr is nationally headquartered in Tampa, Florida. For more information, log on to www.stenbarr.com. ### | |||||
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