Liberty Diversified Industries Acquires ErgoletDate : 09/23/2008
Ergolet, Danish Manufacturer of Patient Mobility Aids, Acquired by Liberty Diversified Industries
Acquisition marks first healthcare industry acquisition for LDI (Minneapolis, MN) – Ergolet’s patient mobility products will see expanded distribution in North America following acquisition of the Danish company by Minneapolis-based Liberty Diversified Industries (LDI). Ergolet markets patient aids such as lifts, hoists, stands, chairs, track systems and patient trolleys into the medical and independent living categories. The company, founded in 1973, has a strong market presence, particularly in Europe, among hospitals, senior care facilities and clinics.
In a related announcement, LDI, which manages a portfolio of companies in a variety of industries, has named Jeff Schwingler General Manager of Ergolet. Schwingler is moving from Minneapolis to work in the company headquarters
in the Danish port city of Korsoer, about 61 miles southwest of Copenhagen. He will work hand-in-hand with Ergolet’s current management team.
“Our goal is to expand Ergolet into a global company,” said Schwingler. “An early part of our plan is to grow our presence in North America, where our aging population can benefit from Ergolet’s innovative and high-quality product set.” LDI’s CEO, Mike Fiterman, said, “We plan to invest in Ergolet to expand its global footprint. We’re committed to bring these fine healthcare products to a broader world marketplace.”
Fiterman said Ergolet has been family owned and shares values similar to the family-owned LDI, pointing out Ergolet has a heritage as an innovator, with a bias for new ideas and designs.