Tag: Great Elm DME
Earnings roundup: Great Elm, InfuSystem, Insulet
May 9, 2022HME News Staff
WALTHAM, Mass. – Great Elm Group’s DME division grew total revenue by 19.2% to $15.6 million in the third quarter of fiscal year 2022, driven by strong resupply sales. The increase in revenue was primarily attributable to contributions from the previous acquisitions of AMPM in March 2021 and MedOne in August 2021. “Our investment in DME continues to perform well, despite challenging supply chain conditions,” said Peter Reed, CEO of Great Elm. The DME division reported a net...
In brief: Woman of the Year finalists, supply chain relief, Quipt’s acquisition
November 12, 2021HME News Staff
WATERLOO, Iowa – The finalists for this year’s HME Woman of the Year are Trisha Bailey, CEO of Medical Hotspots/Bailey’s Medical; Neidi Mack, vice president for ancillary services at Prism Health Care Services/The Alden Network; Katie Stevens, CEO at Reliable Medical Supply; and Victoria Peterson, administrator at RespMed. “These HME Woman of the Year finalists are leaders in their companies and communities,” said Clint Geffert, president of VGM & Associates. “They...
Great Elm DME boosts revenue
November 12, 2021HME News Staff
WALTHAM, Mass. – Strong resupply sales helped Great Elm DME grow its revenue to $15.6 million in its first quarter fiscal 2022, a 6.5% increase compared to the same period the previous year.
Net income was $2.1 million vs. a net loss of $0.5 million, and adjusted EBITDA was $5.1 million vs. $2.8 million.
“We reported an excellent period in DME despite the challenges of a relatively slow return to normal operations following the pandemic conditions over the past year,”...
In brief: Increasing costs, Netflix fame, Verma appointment
September 24, 2021HME News Staff
WATERLOO, Iowa – VGM & Associates has sent a letter asking CMS, at minimum, to pay all HME providers in non-rural areas, including those in the 130 competitive bidding areas, the 75/25 blended reimbursement rates to help them offset increasing costs.
“Since the onset of the COVID-19 pandemic, acquisition costs for many products have been rising steadily in the form of incremental price increases,” writes Clint Geffert, president of VGM & Associates in the Sept. 8 letter....
Great Elm DME reports ‘positive momentum’
September 22, 2021HME News Staff
WALTHAM, Mass. – Great Elm DME reported revenues of $15.4 million for the fourth quarter ended June 30, 2021, compared to $13.9 million for the same period last year. Net income was $5.9 million vs. $2.8 million.
For the fiscal year end, the company reported revenues of $57.6 million vs. $55.7 million, and a net loss of $2.5 million vs. a net loss of $0.1 million.
Great Elm DME’s parent company, Great Elm Group, highlighted the completion of a holding company reorganization...
Great Elm Group reports DME loss
May 14, 2021HME News Staff
WALTHAM, Mass. – Great Elm Group reported DME revenue of $13.1 million for its third quarter 2021, compared to $14.1 million for the same quarter last year.
It reported a net loss of $5.1 million vs. a net loss of $1.4 million, and adjusted EBITDA of $3.4 million, vs. $2.5 million.
"Overall, we see positive momentum in all aspects of our business,” said Peter A. Reed, CEO. “DME is beginning to see signs of business recovery...
In brief: Final rule, Great Elm, Best Buy Health
March 5, 2021HME News Staff
WASHINGTON – The Council for Quality Respiratory Care has partnered with AAHomecare and the VGM Group to send a one-page letter to CMS urging the agency to publish the DMEPOS final rule as quickly as possible.
A proposed rule published in October outlined the agency’s plans to make permanent the 50-50 blended reimbursement rates in rural areas.
“In light of the pandemic, it is more important than ever that the Medicare payment system provides stability to suppliers...
In brief: Biden and CMS, Dexcom and VC, Great Elm and acquisitions
February 19, 2021HME News Staff
WASHINGTON – President Biden is expected to name Chiquita Brooks-LaSure as CMS Administrator, according to numerous news reports.
Brooks-LaSure served in the Obama Administration, where she helped guide the Affordable Care Act through passage and implementation. She has also worked as a Democratic staffer for the Ways and Means Committee in the House of Representatives.
Brooks-LaSure is currently a managing director with Manatt Health, where she provides...
In brief: Rotech financing, Kubat merger, Merits president
December 31, 2020HME News Staff
ORLANDO, Fla. – Rotech Healthcare has obtained $425 million in new financing via an amended and reinstated credit agreement with a diverse group of lenders.
The provider used part of the proceeds to pay a $100 million dividend to its holding company and will use the remainder to support growth through strategic acquisitions.
“This new credit agreement provides Rotech with sufficient capital over the next five years to continue our growth strategies, as well as to provide a $100...
Great Elm experiences growth, offset by declines
December 29, 2020Theresa Flaherty, Managing Editor
WALTHAM, Mass. – Great Elm DME gained momentum during its first fiscal quarter 2021, but it hasn’t yet rebounded to pre-COVID levels, company execs said on a recent earnings call.
The company reported net revenue of $14.6 million, an increase of 10.4% year-over-year and 5% sequentially.
While Great Elm saw “strong” growth in CPAP resupplies, that growth was offset by a decline of 24.7% year over year in new patient setups and only an increase of 2.8% sequentially, said...