Clayton, Dubilier & Rice, a private investment firm in New York City, will make a significant investment in Drive DeVilbiss Healthcare, a medical device manufacturer based in Port Washington, N.Y.
Drive offers a diverse product portfolio that includes mobility, respiratory, sleep, personal care and rehabilitation products. The company serves more than 15,000 dealers, home healthcare providers, healthcare distributors, retailers and e-commerce companies. Drive sells its products in more than 80 countries.
"We intend to play a constructive role by supporting a very talented management team as it continues to grow the business organically and through acquisitions, pursue operational excellence and serve its customers with the highest quality products," said Richard J. Schnall, a partner at CD&R.
Financial terms of the investment were not disclosed.
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