Terms of the transaction were not disclosed.

Formed in 2000, Drive has become a leading manufacturer of medical products with a strong and consistent track record of growth achieved both organically and through acquisitions.

The company's high-quality, diverse product portfolio, channel footprint and global operating scale were strategically built by its executive leadership team to take advantage of favorable underlying demographic and industry trends.

Drive's products include a full suite of mobility, respiratory, sleep, bath and personal care, specialty beds, pressure prevention, rehabilitation and other related products, and are sold into the homecare, long-term care, retail and e-commerce channels.

Drive serves a customer base of more than 15,000 dealers, home healthcare providers, healthcare distributors, retailers and e-commerce companies and sells its branded products in more than 80 countries around the world.

"Drive's management team has done an exceptional job of identifying and capitalizing on the increasing demand for its products across multiple channels," said CD&R Partner Richard J. Schnall.

"We intend to play a constructive role by supporting a very talented management team as it continues to grow the business organically and through acquisitions, pursue operational excellence and serve its customers with the highest quality products."

Since 2002, Drive has completed 25 acquisitions that have expanded its product portfolio, geographic reach and manufacturing capabilities. In July 2015, Drive completed the transformational acquisition of DeVilbiss Healthcare, a global manufacturer of respiratory and sleep products.

The acquisition provided Drive with a strong platform and a significant cross-selling opportunity in the fast-growing respiratory and sleep market segments, while increasing the company's manufacturing capabilities and its market presence around the world. Since the successful integration of DeVilbiss, Drive has operated under the name of Drive DeVilbiss Healthcare.

Derek Strum, CD&R Principal, added: "We believe Drive has substantial runway for continued organic growth given the company's strong value proposition, partnership approach with its customers and significant product breadth. Drive also has a strong pipeline of acquisitions, which should result in continued robust growth in the years ahead."