West Jordan, Utah (September 19, 2018) – HemaSource (or the “Company”), a leading provider of consumable products to specialty ambulatory clinics, is pleased to announce the acquisition of Source Products, Ltd. (“Source Products”). Based in Youngstown, OH, Source Products is a national distributor of medical products and equipment to dialysis centers, long term care facilities, oncology centers, hospitals and physician offices. The acquisition enhances HemaSource’s focus in the dialysis market and allows for further adoption of the Company’s cloud-based inventory management software and data analytics capabilities. HemaSource is a portfolio company of Ridgemont Equity Partners, a middle market private equity investor. Financial terms of the transaction were not disclosed.
“Source Products has a longstanding reputation of highly personalized customer service and we are very excited to welcome Source Products to our team. The combined organization will enable customers to drive increased operational efficiencies and cost savings, including a reduction of administrative labor hours, reduced inventory needs and ultimately improved utilization of medical products,” said Tom Jordan, President and CEO of HemaSource.
“Together, HemaSource and Source Products can provide more value to a broader set of customers,” said Bryan Potthoff, Senior VP of New Market Development. “We will continue to develop our proprietary software offering and expand our product portfolio through new partnerships with leading manufacturers.”