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This is Chris Redgrave for Zions Bank Speaking on Business.
Tom Bradley loved his job as a paramedic in Salt Lake City and discovered an aptitude for patient care.... It was a life he was enjoying … except the time away from his family and pay that made supporting his family difficult. So, he and his wife decided to start another healthcare business to supplement their income. It worked out better than they could have anticipated: that business is now known as Petersen Medical and has seven locations throughout Utah.
Petersen Medical is a full-service durable medical equipment supplier, providing home medical equipment. This includes anything from walkers, crutches and braces to hospital beds, home oxygen, wheelchairs and many other home medical supplies .... The home health care industry in the U.S. is huge with revenues just under $200 billion, according to Transparency Market Research, and that number is expected to climb past $300 billion by 2018.
As you can imagine, even in such a large industry, this is a competitive business to be in. Petersen Medical sets themselves apart by offering many different disciplines of medical supplies, while most of their competitors focus on just one. That's one of the reasons the company is now spread throughout Utah and has entered Colorado too ...
When Tom founded the business, it was under a different name. However, he worked closely with the original founder and CEO of Petersen Medical, Fred Petersen. When Fred was ready to retire, he offered the company to Tom, who bought the business without a second thought.
Adopting the Petersen Medical name was a big deal for Tom and has been a major growth factor for the Orem-based business. It was already known throughout the state, and has continued to expand since then... There are now about 100 employees.
Needless to say, as the president of Petersen Medical, Tom has come a long way from his original plan to continue as paramedic and firefighter and maybe do construction on the side. But, no complaints especially with the current hyper focus on healthcare — for Tom, everything has worked out for the best...
For Zions Bank, I'm Chris Redgrave, speaking on business.
Petersen Medical 1268 S. 1380 West Orem, UT 84058 801) 373-1010 www.petersenmedical.com
