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This press release was provided by Patterson Medical. The Club Industry editorial staff was not involved in the creation of this content.
Warrenville, IL and Akron, OH - Patterson Medical, a leading distributor of rehabilitation, sports medicine and assistive patient products, announced today that it has signed a definitive agreement to acquire Performance Health, a leading manufacturer and supplier of consumer branded health, wellness and self-care products. The highly complementary combination is expected to create a market-leading, multi-channel branded supplier to global rehabilitation, recovery and sports medicine customers. Through a broader supply and distribution platform, enhanced capabilities and expanded offerings, over time the two companies expect to produce numerous benefits for customers, employees and suppliers. Patterson Medical, backed by majority shareholder Madison Dearborn Partners (MDP), is acquiring Performance Health from Gridiron Capital (Gridiron).
"Patterson Medical and Performance Health are natural partners, and we look forward to realizing the significant potential our combination presents to our customers, employees and entire supply chain," said Mike Orscheln, Chief Executive Officer of Patterson Medical. "We have worked closely with Performance Health over the last several years and share similar values and a focus on partnership, innovation and integrity. Their market-leading brands, strong retail channel relationships and manufacturing capabilities are highly complementary to Patterson Medical's strengths in distribution, clinical sales and customer service. We will ensure that our manufacturing and distribution capabilities continue to operate independently so that we continue to pursue a multi-channel strategy and offer the broadest array of top-quality products to our customers and growth opportunities to our important supplier relationships."