Permobil today announced the acquisition of TiLite, a leading manufacturer of innovative and individually customized manual wheelchairs. Through the acquisition, Permobil is taking the next step in its strategy to become a leading healthcare company, providing solutions for people with complex rehabilitation needs.
Founded in 1998, TiLite has the world's most innovative and user-focused range of active wheelchairs. The company designs and manufactures ultra-lightweight manual wheelchairs in titanium or aluminum that can be customized to each user's exact specification. TiLite is headquartered in Pasco, Washington in the USA and currently sells in 41 markets.
Permobil CEO Jon Sintorn said, "Over the years, Permobil has evolved from a family firm into a global leader in the complex rehabilitation power wheelchair industry. We are now dedicated to building a leading healthcare company with complex rehabilitation solutions - leveraging the latest technology and medical research to benefit the people we serve. TiLite contributes perfectly to this strategy."
TiLite CEO David Lippes commented, "The TiLite team is excited about having the opportunity to join forces with Permobil. Permobil has exceptional R&D capabilities and customer relations and we share a focus on innovation and customization for the user. We look forward to being part of Permobil's journey to reshape the market for complex rehabilitation."
Larry Jackson, President of Permobil North America, said, "TiLite shares our culture of excellence and commitment to delivering an outstanding wheelchair experience to our users. This is a natural fit. I am really looking forward to continue developing Permobil's offering with TiLite onboard."
Permobil and TiLite combined have sales of approximately SEK 2 billion. Permobil's acquisition is financed by retained cash and new debt.