HME Home Health sees double-digit revenue growth

RICHMOND, British Columbia – HME Home Health ended its fiscal year on Oct. 31, 2023, with double-digit revenue growth. A key focus for HME Home Health was ensuring that margins were improved, supply chain challenges were addressed, and efficiencies were achieved to support the company’s continued growth. “During 2023, HME renegotiated key supply arrangements and left trade associations in an effort to increase margins and reduce costs,” said Robert Boscacci, CEO and co-founder. “By consolidating our purchasing in-house, we improved margins and lowered purchasing costs.” HME Home Health’s HME business saw a 14% increase in revenues during the fiscal year, even as the company went through an internal reorganization and merged overlapping departments to streamline efficiencies. During the fiscal year, the company also saw substantial growth in its Signature Series Line, a house line of products exclusively manufactured for HME and designed by HME Home Health’s in-house clinical team. In 2023, the line grew from five products to 10. “This focus will continue in 2024 as HME becomes a full distributor of products and exits smaller markets of Class 1 and Class 2 devices,” said Michelle Harvey, COO. “This exit aligns with our key growth strategy and will enable us to increase our revenue and sales team to over 50 staff by the end of 2024.” Additionally, HME Home Health saw the addition of its 7th location in the fiscal year, a new corporate headquarters in Richmond, British Columbia, and staffing levels reach more than 120 team members.