Protech lines up sleep provider

CINCINNATI ­- Protech Home Medical has executed a non-binding letter of intent to acquire a respiratory company in the Southeast reporting unaudited trailing 12-month annual revenues of about $13 million, significant adjusted EBITDA and positive net income. The target, which has been in business for more than 15 years, would significantly enhance Protech's presence in the region with five new locations, and would increase its patient count by more than 15,000. The target is highly concentrated in sleep therapy, with a strong resupply business. “Post-closing, we also see a significant opportunity to increase the targets current resupply business and will use our operational expertise, leveraging our first-rate infrastructure to achieve profit growth through our integration platform,” said Greg Crawford, CEO. “Our acquisition platform continues to be robust and we expect to remain extremely active on the M&A front as we close out 2020, with a particular focus on increasing scale through market penetration in our existing markets and by adding new markets into the system.” Earlier this month, Protech announced it had acquired Buffalo Grove, Ill.-based Health Technology Resources.