Press releases From Care Medical

10-31-11 Press Release

Visalia, CA. – Care Medical, a Visalia-based regional provider of respiratory and home medical equipment, acquires Valley Homecare in Lompoc, CA, just north of Santa Barbara.

"We are excited to have a foothold in the Santa Barbara area and plan on using that platform for additional growth on California’s Central Coast," said Matt Kneeland, CEO and President of Care Medical.

But don't expect the Valley Homecare acquisition to change Care Medical’s growth strategy any time soon. "This was a unique opportunity," Kneeland said. "We're not looking to do many acquisitions, if any, at this point.  However, we will continue to watch for opportunities that fit into our growth strategy."  The acquisition comprised of two branches in the Santa Barbara area, will put Care Medical at 13 locations throughout Central and Northern California. The Lompoc branch "significantly strengthens" the provider's presence on the Central Coast”, Kneeland said, and this location extends its existing presence in that area of the state.

Care Medical will continue to operate Valley Homecare with the same personal and hometown service that they have gained a reputation for, and will be adding a significant clinical upgrade to their marketing efforts, a trademark of the Care Medical team.

“While Care Medical hasn't made many acquisitions in the recent years, it has grown substantially organically”, Kneeland said. “We have added at least one new location per year in the recent past and have been very focused on growing same-store sales.”  "The majority of our branches have been started from scratch," he said. "We're comfortable continuing to build that way and we have a proven model to continue with that strategy.”