InfuSystem lays groundwork for significant contributions to top line
By HME News Staff
Updated 9:35 AM CST, Tue November 16, 2021
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $26.6 million for the third quarter of 2021, a 6% increase compared to the same period last year. DME services represented revenue of $10 million, a 5% increase. “In the third quarter, we made substantial progress in diversifying and extending our business by securing one new business relationship and being selected for an additional new business relationship, which we expect will drive significant growth in 2022 and future years,” said Richard Dilorio, CEO. “The first, involving our Pain Management business, was announced via a press release on Nov. 2, 2021. The second, which we expect to announce in the coming weeks following negotiation and execution of a definitive agreement, relates to our expanding biomedical services business. Both of these new relationships have been in development over the course of the current year and are expected to commence before the end of this fiscal year and are expected to begin making significant contributions to our top line in fiscal year 2022.” InfuSystem announced earlier this month that it has entered into an exclusive three-year pain management agreement with a leading U.S. health care provider with more than 12 million members. Other results from the third quarter: gross profit of $15.3 million, gross margin of 57.4%, a net loss of $400,000 and adjusted EBITDA of $5.5 million.
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