Trace Medical
Trace Medical is a national ventilator and dialysis equipment rental company serving skilled nursing, rehabilitation, hospice, and HME providers across the United States, complemented by proprietary asset tracking and biomedical services.
- Company typePrivate
- Founded2004
- HeadquartersWhitmore Lake, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Trace Medical does
Trace Medical, L.L.C. is a privately held, founder-owned medical equipment rental company headquartered in Whitmore Lake, Michigan, founded in 2004. The company operates as the national leader in ventilator rentals, providing rental, biomedical, and asset tracking services to skilled nursing facilities, rehabilitation facilities, hospice providers, HME/DME providers, and hospitals across the United States. Its core product is a ventilator rental fleet supported by myTrace, a proprietary RFID-enabled asset tracking platform, and MedEquip, a biomedical services division built around the 2023 acquisition of Bio-One, Inc. Revenue streams include recurring ventilator rentals, dialysis equipment rentals (Tablo Hemodialysis System distributed under exclusive agreement with Outset Medical since 2023), biomedical maintenance and repair services, and Stockpile Management inventory positioning services.
The business model is asset-intensive and recurring: Trace Medical owns and deploys a substantial ventilator inventory pool, optimized via proprietary inventory software, and rents it on monthly subscription terms with quote-based pricing. The company sells primarily through a direct national sales team, supplemented by an exclusive program agreement with VGM & Associates (effective April 2026) that provides access to 3,300+ HME providers across 10,000 locations, and channel partnerships with Encore Healthcare (Vent360+ integrated ventilator and outcome management solution) and Outset Medical (Tablo home dialysis). Leadership includes Founder & Chairman Rhon Pannell, CEO Greg Apostolou (former Joerns Healthcare CFO/CSO), Co-Chairman Carl Reid, President Mark Farmer (joined April 2026), COO Clint Geffert (former President of VGM & Associates 2014-2022), and CIO Dallas Johnson. The company serves approximately 30 million patients annually and is supported by a 2019 Federal Supply Schedule contract.
Trace Medical firmographics
Firmographics- Name
- Trace Medical
- Legal name
- Trace Medical, L.L.C.
- Website
- https://tracemedical.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Trace Medical is a national ventilator and dialysis equipment rental company serving skilled nursing, rehabilitation, hospice, and HME providers across the United States, complemented by proprietary asset tracking and biomedical services.
- Ownership category
- akta.pro rank
Trace Medical industry classification
Industry- Product category
- Medical Equipment Rental Services
- NAICS
- Home Health Equipment Rental (532283), Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers (42345)
- SIC
- Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047)
- akta.pro primary industry
- Durable Medical Equipment (DME) Sales & Rentals (HSABAKAA)
- akta.pro secondary industries
- Home Dialysis Equipment & Remote Monitoring (HLAHAKAG), Hospice Medication, DME & Supply Management (In-Home Logistics) (HSABAFAN)
Keywords
Where Trace Medical is headquartered
LocationHeadquarters
- HQ city
- Whitmore Lake
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Trace Medical business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Ventilator Equipment Rentals: Core revenue stream providing ventilator rentals to healthcare facilities including skilled nursing, rehabilitation, hospice, and HME providers. Rental model offers financial flexibility versus equipment ownership with clinical and cost-effective solutions.
- Dialysis Equipment Rentals: Rental of Tablo Hemodialysis System and related dialysis equipment to HME providers for home dialysis programs. Part of long-term distribution agreement with Outset Medical.
- Biomedical Services: Maintenance, repair, and biomedical services for medical equipment. Trace Medical acquired Bio-One, Inc. to expand biomedical service capabilities nationally.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Quote-based rental pricing tailored to customer needs |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Trace Medical product offering
Product offeringCore offering
Trace Medical rents and sells ventilators and complementary respiratory, dialysis, and patient-monitoring equipment to medical and hospice facilities nationwide, alongside biomedical equipment services, asset tracking, stockpile management, and dialysis technology solutions. The company serves skilled nursing facilities, rehabilitation hospitals, hospice providers, HME companies, and hospitals with a focus on post-acute and respiratory care equipment.
Product overview
Trace Medical operates as a national equipment rental company (not a manufacturer) serving the healthcare continuum across skilled nursing facilities, rehabilitation facilities, hospice, and HME providers. The core offering is ventilator rentals, supported by proprietary asset tracking technology (myTrace), biomedical services (MedEquip), and patient monitoring capabilities. The product portfolio centers on Ventilator Rentals as the primary revenue driver, augmented by myTrace for real-time equipment visibility via RFID/sensors, MedEquip for biomedical maintenance and compliance, and Masimo patient monitoring integration. The company has expanded into adjacent verticals including dialysis equipment rentals (Tablo Hemodialysis System via Outset Medical partnership) and the Vent360+ program (combining rentals with Encore Healthcare's outcomes software for comprehensive HME support). Stockpile Management services support inventory optimization for customers.
Differentiator
Problem solved
Functional benefit
Brands
- myTrace: Asset tracking software solution designed to help healthcare facilities maximize efficiency and reliability of medical equipment using RFID technology.
- MedEquip
- Vent360+
- Tablo
Products and services
- Ventilator Rentals National rental program for ventilators with 99.8% uptime guarantee, same-day delivery, and full-service support including clinical training, biomedical service, and 24/7 technical assistance. Targeted at skilled nursing facilities, rehabilitation hospitals, hospice providers, HME companies, and other healthcare operators that need respiratory equipment without the capital burden of ownership.
- myTrace Asset Tracking Proprietary asset tracking and inventory management software that delivers real-time equipment visibility, utilization analytics, and loss-prevention features for healthcare providers and partners managing distributed medical equipment fleets.
- MedEquip Biomedical Services Biomedical equipment services covering repair, preventive maintenance, performance verification, and equipment lifecycle support for ventilators and other respiratory and patient care devices used by healthcare facilities.
- Patient Monitoring Equipment (Masimo) Rental and supply of Masimo patient monitoring devices and accessories to healthcare facilities, providing continuous monitoring solutions as an extension of the core ventilator rental catalog.
- Tablo Hemodialysis System Rental, sales, and support of the Outset Medical Tablo Hemodialysis System for healthcare facilities and home dialysis programs, providing an integrated dialysis solution through the company's dialysis technology service line.
- Stockpile Management Program Pre-positioned medical equipment stockpile program for federal, state, and local government stockpilers and healthcare systems, providing ready-to-deploy ventilators and respiratory equipment with defined service levels and asset accountability.
Quantifiable outcome
- National leader in ventilator rentals serving approximately 30 million patients annually
Companies that use Trace Medical
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
Trace Medical technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Trace Medical partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship and core.
- VGM & AssociatesflagshipExclusive program agreement expanding VGM members' access to Trace Medical's advanced respiratory rentals, dialysis rentals, and biomedical services nationwide. The agreement, effective April 1, 2026, is the first program of its kind for VGM's membership community, designed to help HME providers address operational and margin pressures. VGM represents over 3,300 providers with 10,000 locations. Partnership began in 2018.
- Encore HealthcarecoreLaunched Vent360+, a comprehensive ventilator rental and outcome management solution integrating ventilator rentals, clinical management, and compliance oversight under one all-inclusive monthly price. The partnership combines Encore Healthcare's outcomes software expertise with Trace Medical's ventilator rental capabilities and industry-leading inventory optimization to deliver a fully integrated care solution for HME providers.
- Outset MedicalflagshipLong-term distribution agreement for Tablo Hemodialysis System, enabling Trace Medical to rent the FDA-cleared home dialysis device to HME providers nationwide. Trace leverages its national distribution network to offer exclusive rental access to Tablo, meeting growing demand for home dialysis treatment. Tablo serves as a single enterprise solution across the continuum of care from hospital to home.
- Bio-One, Inc.coreAcquisition of Bio-One, Inc. to expand Trace Medical's biomedical service capabilities nationally. Bio-One provides authorized repair and maintenance services for medical equipment, strengthening Trace Medical's ability to offer comprehensive biomedical services to healthcare facilities.
- SunMED Medical SolutionscoreExclusive partnership agreement with SunMED Medical Solutions for distribution of respiratory and medical equipment products through Trace Medical's national network.
Scale indicators3 records
Recent moves7 records
Expansion highlights6 records
Trace Medical competitors and assessment
Company assessmentDirect peers
- Viemed Healthcare: Viemed is the most direct competitor to Trace Medical—a national ventilator and respiratory equipment rental provider serving HME providers, skilled nursing, and home care settings with a comparable customer base and rental model.
- Joerns Healthcare: Joerns Healthcare is a former employer of several Trace Medical executives (CEO Greg Apostolou, EVP Elliot Campbell) and operates a national DME rental and services network overlapping with Trace Medical's ventilator and wound care rental offerings.
- React Health: React Health (formerly 3B Medical/React) is a respiratory equipment manufacturer and distributor that sells and rents CPAP, oxygen, and ventilation devices through HME channels—directly competitive with Trace Medical's ventilator rental and oxygen fleet offerings.
Broad incumbents
- Rotech Healthcare: Rotech is a public respiratory and home medical equipment company providing ventilators, oxygen, and DME rentals nationally—directly overlapping Trace Medical's customer base of HME providers, SNFs, and hospice customers, though broader in product scope.
- AdaptHealth: AdaptHealth is one of the largest publicly traded HME providers in the US, offering CPAP, ventilators, and home dialysis product rentals with national reach—competing for the same HME-provider-routed respiratory rental demand that Trace Medical serves.
- Apria Healthcare (Owens & Minor): Apria, acquired by Owens & Minor in 2022, is one of the largest national DME providers with a sizable respiratory/ventilator rental business, serving SNFs, hospice, and home patients that overlap with Trace Medical's segments.
- Lincare (UnitedHealth/Optum): Lincare, owned by Optum/UnitedHealth, is among the largest respiratory and home medical equipment providers in the US and a directly comparable rental incumbent with national distribution for ventilators and oxygen.
Emerging players
- Quipt Home Medical: Quipt Home Medical is a publicly traded respiratory/home medical equipment company focused on CPAP and ventilator rentals through acquired HME providers—a growing competitor in the same HME-channel rental niche as Trace Medical.
Others
- Outset Medical: Outset Medical manufactures the Tablo Hemodialysis System that Trace Medical distributes via long-term agreement—the technology partner whose product roadmap and economic terms materially shape Trace Medical's dialysis rental growth.
- VGM & Associates: VGM is a member service organization connecting 3,300+ HME/DME providers and counts Trace Medical as its flagship exclusive respiratory rental partner; relevant as the channel that gates Trace Medical's access to its end-provider customer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Trace Medical social profiles
Digital presenceTrace Medical financial estimates
Financial estimateRevenue estimate
Valuation estimate
Trace Medical leadership team
Management profileNumber of profiles
Profiles8 records
Trace Medical subsidiaries and ownership
Company hierarchySubsidiaries1 record
Trace Medical funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Trace Medical M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Trace Medical
What does Trace Medical do?
Trace Medical rents and sells ventilators and complementary respiratory, dialysis, and patient-monitoring equipment to medical and hospice facilities nationwide, alongside biomedical equipment services, asset tracking, stockpile management, and dialysis technology solutions. The company serves skilled nursing facilities, rehabilitation hospitals, hospice providers, HME companies, and hospitals with a focus on post-acute and respiratory care equipment.
Is Trace Medical a public or private company?
Trace Medical is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Trace Medical founded?
Trace Medical was founded in 2004. It employs 11 to 50 people.
Where is Trace Medical based?
Trace Medical is headquartered in Whitmore Lake, United States, in the North America region.
How does Trace Medical make money?
Three revenue lines are on record. Ventilator Equipment Rentals are the primary driver. The others are dialysis Equipment Rentals and biomedical Services.
Who are Trace Medical's main competitors?
Direct peers on record are Viemed Healthcare, Joerns Healthcare and React Health. Broad incumbents are Rotech Healthcare, AdaptHealth, Apria Healthcare (Owens & Minor) and Lincare (UnitedHealth/Optum). Quipt Home Medical is listed as an emerging player. Others are Outset Medical and VGM & Associates.
Does Trace Medical have an API?
No public API is recorded for Trace Medical.
What industry is Trace Medical in?
Trace Medical's product category is Medical Equipment Rental Services. Its primary akta.pro industry code is HSABAKAA, Durable Medical Equipment (DME) Sales & Rentals, with a secondary code of HLAHAKAG, Home Dialysis Equipment & Remote Monitoring. Its NAICS code is 532283 and its SIC code is 5047.