ATG Rehab, which has purchased the complex rehabilitation technology (CRT) unit of Sayreville, N.J.-based Allcare Medical, will establish a new location in central New Jersey dedicated to complex rehab equipment and services, that will give the company greater proximity to the durable medical equipment (DME), clinical respiratory support services (CRSS), and orthotics and prosthetics markets, according to a press release.
The DME market is expected to reach $31 billion by next year, while the CRSS market is forecast to reach $13.5 billion by 2015, according to industry experts.
Allcare will continue to offer services in these three areas, as well.
ATG and Allcare will co-market their respective services to ensure that CRT, DME, CRSS and related needs are met for clients in these regions.
“Allcare has uniquely positioned itself to offer both CRT and DME services in its market. With the sale of our CRT business, Allcare will now be able to focus on growing its core products and services, while offering our CRT clients the opportunity to work with an industry leader in ATG Rehab,” said Allcare president Richard Lerner in the press release.
“Allcare and ATG Rehab will support each other’s areas of specialty as we continue to expand our respective markets.”
The move was made to better serve clients in New Jersey and Philadelphia, the press release stated.
Reasons for market growth include an aging population and the home healthcare market’s expansion. The home healthcare market is rapidly becoming a very lucrative one with the emergence of telemedicine where chronically ill patients can be treated at home, and is additionally expected to grow at a CAGR of 7.7% from 2011 to 2016. The market is skyrocketing not just in places like the U.S. and U.K. – where it’s to be expected – but in developing countries as well.
Telemedicine is making it convenient and less costly to care for patients at home, mostly because the equipment to monitor those patients and keep them healthy is so available from companies like ATG Rehab, Allcare and others.
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Edited by
Allison Boccamazzo
