September 15, 2021 – Agiliti, Inc., an essential service provider to the U.S. healthcare industry, announced it has entered into a definitive agreement to acquire Sizewise Rentals, LLC, (Lenexa, KS) a manufacturer and distributor of specialty hospital beds, surfaces and patient handling equipment, in a stock purchase transaction valued at $230 million.
Sizewise is a manufacturer and provider of specialized bed frames, therapeutic surfaces and mobility equipment serving more than 3,000 customers in the acute and post-acute care markets with products that address the needs of bariatric, geriatric, pediatric and standard patient populations.
Sizewise operates a 24/7 nationwide network of 65 local, in-market service branches and four manufacturing centers.
Agiliti says that the combination will allow it to broaden its portfolio and clinical expertise within the growing specialty equipment services market, expand its total addressable market opportunity and target meaningful growth and cost reduction synergies.
The boards of directors of both companies have unanimously approved the agreement. Agiliti intends to finance the transaction through a combination of cash and debt. The transaction is expected to close early in the fourth quarter of 2021.