Andover Medical Closes $5.6 Million Private Financing

North Andover, MA-based Andover Medical announced today that it closed $5.6 million in private financing at the end of March. The firm, which makes orthopedic, podiatric and urological durable medical equipment (known as “DME”), will use the money to “acquire and integrate new companies into a nationwide subsidiary network, which will assist practitioners in providing quality care and services to their patients,” CEO Edwin Reilly said in a press release. That plan seems consistent with recent activity at the firm: A week ago, Andover Medical announced plans to acquire Ortho-Medical Products, another DME company that provides procedure specific, orthopedic equipment, respiratory and orthotic equipment, and prosthetic devices.

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