Grand Rapids, MI, September 7, 2006--Office furniture maker Steelcase said it has acquired privately held health care furnishings manufacturer Softcare Innovations Inc., as part of Steelcase's strategy to grow its new health care division.
Waterloo, Ontario-based Softcare, which has 50 employees, makes patient room furnishings and health care seating products. It generated $18.9 million in revenue in 2005, said Steelcase spokeswoman Debra Bailey.
Bailey declined to say how much Steelcase paid for the acquisition. The deal includes Softcare's sister company, DJRT Manufacturing Inc., which is also based in Waterloo.
Steelcase plans to grow its new health care unit, Nurture by Steelcase, through the acquisition.
"We've already integrated healthcare-related products and services from Steelcase companies under the Nurture umbrella," said Nurture unit president, Michael Love, in a statement. Softcare's broad product line, prices and market focus compliment Nurture's offerings, he added.
Softcare will continue to be headquartered in Waterloo and will retain its management, name and day-to-day operations. The unit's products will be sold through its existing sales network and through authorized Steelcase dealers.
Steelcase has about 13,000 employees, and recorded about $2.9 billion in sales in fiscal 2006.
