Patricia Industries has completed the acquisition of Sarnova, a national distributor of healthcare products to the acute care and emergency medical services (EMS) markets, according to a company announcement.
Patricia Industries, which is part of the Swedish Industrial Holding company Investor AB, will be the majority owner of Sarnova. Water Street Healthcare Partners and Sarnova founder Matthew D. Walter will remain minority investors in the company.
The acquisition includes Sarnova subsidiaries Bound Tree Medical and Tri-anim Health Services.
Over the course of Sarnova’s 10-year partnership with Water Street, the company doubled its customer base to serve more than 30,000 of the nation’s hospitals, surgical centers and EMS providers. Sarnova is now the leading provider of products and services that address the full continuum of care from pre-hospital through acute care.
“Our relationship with Water Street and Matt Walter has been outstanding, building Sarnova into a market leader in the EMS and acute care markets,” said Jeff Prestel, CEO, Sarnova. “We view the acquisition by Patricia Industries as a catalyst for Sarnova’s next leap in becoming the very best company in specialty medical sales and distribution and are excited that Water Street and Matt will continue to be part of supporting our growth.”