![]() MINNEAPOLIS, September 14, 2021-( BUSINESS WIRE)-Agiliti, Inc. (NYSE: AGTI) ("Agiliti" or "the Company"), an essential service provider to the U.S. ![]() healthcare industry, today announced that it has entered into a definitive agreement to acquire Sizewise Rentals, LLC, ("Sizewise"), a manufacturer and distributor of specialty hospital beds, surfaces and patient handling equipment, in a stock purchase transaction valued at $230 million or approximately 7.7x Adjusted EBITDA for the twelve months ended June 30, 2021. Agiliti intends to finance the transaction through a combination of cash and debt. The Boards of Directors of both companies have unanimously approved the agreement. Subject to the satisfaction of customary closing conditions, the transaction is expected to close early in the fourth quarter of 2021. #SIZEWISE BARIATRIC BED UPDATE#įollowing the close of the transaction, Agiliti will provide an update to its full year 2021 financial guidance at the time it reports quarterly results for the period ending September 30, 2021. Sizewise is a leading 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. For the twelve months ended June 30, 2021, the business generated revenues of $155 million and Adjusted EBITDA of $30 million, inclusive of an estimated benefit from COVID-19 of approximately $5 million in Adjusted EBITDA. “We’re pleased to put that history and experience to work for Agiliti as the combined company continues to be an invaluable source of equipment solutions for caregivers and patients alike.Sizewise is headquartered in Kansas and operates a 24/7 nationwide network of 65 local, in-market service branches and four manufacturing centers. “Sizewise has spent the past 25 years engineering, manufacturing, and selling products and service solutions that drive value for our healthcare partners,” said Brian Frickey, CEO of Sizewise.
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