Stanley Works invests in health monitoring
LINCOLN, Neb.--Senior Technologies, a manufacturer of safety and monitoring products for the hospital and long-term care market, has purchased Bed-Check, one of the biggest names in the fall-monitoring market. The acquisition was announced as part of Stanley Works' 2nd quarter earnings report, but terms of the deal were not released.
"It's small enough," said Mike Balters, chief operating officer of Senior Technologies, "that Stanley didn't have to put it in the SEC documents." He noted that Bed-Check only brings "a few dozen employees," and that Bed-Check largely goes to market through a dealer channel that spans the United States and Canada.
"That attracted us" along with Bed-Check's name, said Balters. "It gets us more feet on the street, more products."
Senior was one of the first companies bought by Stanley Works, in 2002, when the company was first getting into the security industry, and was merged with Universal Medical Products in 2003. Though there would seem to be some opportunity for overlap with HSM's monitoring operation, Balters said his products are usually monitored internally on location.
As Bed-Check is already well established in the hospital and senior living facilities, Balters expects the companies current sales reps to succeed with Senior Technologies products. "More than half of the business of Bed-Check is done in the hospital setting," he said. "We hope to be able to leverage their entry into that channel. Hopefully some of our products will get in there through the dealer network."