Viemed reports record quarter
By HME News Staff
Updated 10:04 AM CST, Tue March 8, 2022
LAFAYETTE, La. – Viemed Healthcare reported net revenues attributable to its core business were $29 million for the fourth quarter ended Dec. 31, 2021, a company record and an 11% increase over the same period in 2020.
Total net revenues were $32 million for the quarter, including $3 million for contact and vaccine tracing services and product sales related to the COVID-19 pandemic; and $117.1 million for the full year, including $8.6 million of COVID-19 related sales and services.
“We believe organic growth trends are emerging during the periods following COVID surges," said Casey Hoyt, Viemed's CEO. "Following the Delta variant surge during the third quarter, our sales and clinical teams returned to the field in the fourth quarter eager to serve the strong demand in the market. As a result, we finished the quarter with record-setting core revenues and active patient count. As we look forward to the upcoming year, we are excited to meet this demand with the innovative service offerings, which we invested in during the pandemic.”
Net income was $4.1 million for the quarter, compared to $5.1 million in 2020, and $9.1 million for the full year, compared to $31.5 million for 2020.
Viemed says it expects to generate net revenues attributable to its core business of about $29.2 million to $30.2 million and total net revenues of $30.6 million to $32 million during the first quarter of 2022.
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