Benchmark Medical, Inc., Announces First Orthotic And Prosthetic Acquisition
November 26, 2001
MALVERN, PA - Benchmark Medical, Inc., the nation’s fourth largest provider in the musculoskeletal outpatient rehabilitation industry, announced the acquisition of Prosthetic Orthotic Solutions International (POSI).
Prosthetic Orthotic Solutions, with locations in Marlton, NJ and Horsham, PA, is Benchmark’s first acquisition in the orthotic and prosthetic market.
“This acquisition positions Benchmark as a true musculoskeletal rehabilitation company,” Ronald Hiscock, Benchmark Chairman of the Board of Directors and CEO, said.
Former Prosthetic Orthotic Solutions International owners James Alaimo, CPO, FAAOP, and Kevin Towers, CPO, will join the Benchmark management team to help lead the new orthotic and prosthetic (O&P) division.
Alaimo, who previously served as Vice President of Clinical Services for NovaCare and Hanger Orthopedic Group, will join Benchmark as Vice President of Clinical Services for the O&P division.
Towers, formerly a Facility Manager and Clinical Operations Director for NovaCare and Hanger, as well as a member of the National Upper Extremity Prosthetic Team, will join Benchmark as Vice President of Upper Extremity and General Manager of Clinical Operations for New Jersey and Eastern Pennsylvania. Towers also serves as an examiner for the American Board of Orthotics and Prosthetics and is an internationally known prosthetist
“I am pleased to have Jim and Kevin as part of our clinical management team,” Hiscock said.
“I am excited about this new venture and the opportunity to develop the synergies between Orthotics, Prosthetics and Physical Rehabilitation. We look forward to finding new and innovative solutions for some of the most difficult cases in Musculoskeletal Rehabilitation.” said Jim Alaimo.
Benchmark has also established its first start up Orthotics and Prosthetics facility in Havertown, PA, formerly operated as Total Rehab, Inc.
About Benchmark Medical, Inc.
Benchmark, a privately held company funded primarily by Wind Point Partners, a private equity investment firm in Chicago, IL and Southfield, MI, in conjunction with the management team of Benchmark, is the nation’s fourth largest provider in the musculoskeletal outpatient rehabilitation industry. Benchmark’s strategy encompasses a variety of different sectors within its rehabilitation umbrella to include physical therapy, occupational therapy, speech and hand therapy, industrial rehabilitation and orthotics and prosthetics. Benchmark currently employs more than 1,000 associates throughout 178 points of service in 12 states and is headquartered in Malvern, PA.
About Wind Point Partners
Wind Point Partners is a private equity investment firm with offices in Chicago, Illinois and Southfield, Michigan. Established in 1983, Wind Point has successfully invested in more than 70 privately held companies. Wind Point focuses on partnering with world-class management teams to build outstanding companies via acquisition and organic growth.