Tag: Financial Results
Viemed broadens strategy
May 10, 2024Theresa Flaherty, Managing Editor
LAFAYATTE, La. – Viemed Healthcare’s integration of HMP is “hitting its stride,” helping the company build out a more diversified product offering, says CEO Casey Hoyt.
Viemed closed on its acquisition of Tennessee-based Home Medical Products, Inc., a large regional provider of respiratory focused home medical solutions in June 2023. That deal, and a recent joint venture with East Alabama Health that gave Viemed a controlling interest in East Alabama HomeMed, provides...
Inogen: ‘We’re happy with what we’re seeing’
May 10, 2024Liz Beaulieu, Editor
GOLETA, Calif. – Inogen shared the ways it’s increasing “synergies and efficiencies” across its various sales channels during a recent conference call to discuss its financial results for the first quarter of 2024.
The company’s president and CEO, Kevin Smith, said these efforts include training its team to execute in both its direct-to-consumer and rental channels, launching partnerships within its business-to-business channel and generating new targets in...
AdaptHealth sees small but positive trends
May 8, 2024Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth’s diabetes business “outperformed expectations” during the first quarter of 2024 and company execs are cautiously optimistic that their efforts to boost the segment are starting to make headway.
Diabetes revenue was $149.3 million for the quarter, a 2% increase and the first year-over-year increase for the segment since the second quarter of 2023, driven by the company’s moves to double its sales force, name Briah Carey as...
AdaptHealth sees mixed bag in Q1
May 7, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported revenue of $792.5 million for the first quarter 2024, a 6.4% increase over the prior year, surpassing expectation of $769.87 million.
Adjusted EBITDA increased to $158.5 million, an 18.3% increase. Free cash flow was negative $38.9 million compared to $51.1 million, primarily driven by delayed payments resulting from the Change Healthcare cyberattack.
“I am pleased to report that AdaptHealth had an excellent first quarter,”...
Viemed ‘kicks off’ with strong Q1
May 7, 2024HME News Staff
LAFAYETTE, La. – Viemed Healthcare reported revenues of $50.6 million for the first quarter of 2024, a 28% increase over the prior year.
Net income for the quarter totaled $1.6 million; and adjusted EBITDA totaled $10.1 million, a 21% increase.
"I am tremendously enthusiastic about the company's performance, as we kick off 2024 with strong momentum," said Casey Hoyt, CEO. "Our steadfast investments in personnel and operational enhancements are yielding substantial...
Cardinal Health sees ‘ongoing acceleration’
May 6, 2024HME News Staff
DUBLIN, Ohio – Cardinal Health’s at-Home Solutions operating segment, along with two other segments, reported revenue of $1.2 billion for the third quarter of the company's fiscal year 2024, a 14% increase year over year. The “other” segment, which also includes Nuclear and Precision Health Solutions and OptiFreight Logistics, posted a profit of $11 million, a 5% increase, due to the performance of OptiFreight Logistics. Overall, Cardinal Health reported revenue of $54.9...
OM’s Patient Direct delivers despite ‘unique challenges’
May 3, 2024HME News Staff
RICHMOND, Va. – Owens & Minor reported consolidated revenue of $2.6 billion in the first quarter of 2024, representing year-over-year growth of 4%.
Of that, Patient Direct revenue was $638 million, up 5%.
“Our solid performance in the first quarter was in line with our expectations, as we delivered top-line growth in both segments, adjusted operating margin expansion and improved year-over-year profitability,” said Edward Pesicka, president & CEO. “At the...
ResMed reports double-digit mask revenue
April 25, 2024HME News Staff
SAN DIEGO – ResMed reported revenue of $1.2 billion for the third quarter of fiscal year 2024, a 7% increase compared to the prior year period.
Net income was $300.5 million vs. $232.5 million, a 29% increase.
“ResMed’s strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and software solutions, leading to double-digit mask and accessories revenue growth along with ongoing operational efficiencies to drive margin...
Option Care reports double-digit growth
April 23, 2024HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported revenue of $1.14 billion for the first quarter of 2024, an increase of 12.8% compared to the same quarter last year, despite the disruption caused by the Change Healthcare cyberattack in February.
“The Option Care Health team delivered solid financial results while navigating a disruptive environment,” said John Rademacher, CEO. “I am proud of the resilient enterprise we have built and the team's unwavering commitment...
AdaptHealth: ‘Strategic initiatives have started to produce results’
February 27, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $3.2 billion for fiscal year 2023, an increase of 7.7%.
Despite the revenue increase, the company reported a net loss of $678.9 million, largely due to a substantial pre-tax goodwill impairment of $830.8 million.
AdaptHealth's adjusted EBITDA for 2023 was 13%, reaching $670.8 million. Free cash flow increased to $143.2 million from a negative $17.6 million in 2022.
"We closed out 2023 with strong...