The home medical equipment industry has brought new meaning to the phrase, “slow and steady wins the race.” While many industries are struggling in this increasingly tough economic climate to achieve even a fraction of the lightning-fast growth that they experienced in the 1990s, HME has grown consistently, according to market analysts, despite lethargic reimbursement in recent years.

This consistency has drawn the attention of large companies — both public and private — that have invested heavily in the home care market. It also has provided what mergers and acquisitions specialists have called “a balanced market,” wherein attractive buyers and attractive sellers abound.

Add to the mix lawmakers in Washington gearing up to debate long-awaited Medicare reforms, and record Medicare spending in 2001, and you have what has been an interesting year for HME companies. Consequently, HomeCare's annual Top Companies list contains a few surprises.