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Tag: Quipt Home Medical


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Quipt expands in Mississippi

October 6, 2021HME News Staff

CINCINNATI – Quipt Home Medical has acquired a business with operations in Mississippi reporting unaudited trailing 12-month annual revenues of approximately $2.7 million for about $1.95 million in cash. The business has more than 4,000 active patients, 590 referring physicians and two locations, bringing Quipt to 150,000 current active patients, 19,000 referring physicians and 62 locations across 15 states. “We continue to focus on accretive acquisition candidates that fit our stringent...

Home Medical Equipment, Quipt Home Medical


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Quipt looks to ‘move needle’

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Quipt looks to ‘move needle’

September 10, 2021Theresa Flaherty, Managing Editor

CINCINNATI – With $33 million in cash on hand and a $20 million untapped credit facility, Quipt Home Medical is well positioned to increase scale through acquisitions, company execs said on a recent earnings call.  Most of the deals in Quipt’s current pipeline are in the sub $5 million to $5 million to $10 million range, though execs say the pipeline for $10 million companies is getting larger. Cumulatively, the pipeline totals about $100 million in revenues, says CFO Hardik Mehta.  “Our...

Home Medical Equipment, Quipt Home Medical


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Quipt Home Medical

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Quipt Home Medical rings bell

September 7, 2021HME News Staff

CINCINNATI – The Quipt Home Medical team, including Greg Crawford, chairman and CEO, rang the Nasdaq opening bell on Sept. 2 in celebration of its listing on the exchange on May 27. “The Nasdaq listing is an incredible achievement for our over 600 employees and longstanding shareholders, as we continue our mission of providing superior patient care for at home respiratory patients across the United States,” Crawford said. “Joining an exchange that is home to some of the most...

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In brief: CMS alert, home infusion bill, Quipt earnings

August 27, 2021HME News Staff

WASHINGTON – Industry stakeholders are pushing back on a CMS alert that, they say, makes it seem like patients can get CPAP devices and ventilators affected by a recent Philips recall replaced or repaired right away.  The alert states: “If you would like to replace or repair your equipment, the supplier you bought the equipment from is responsible for replacing or repairing rental equipment at no cost to you when the equipment is less than five years old. If the equipment is more...

Home Infusion Therapy, Philips Recall, Quipt Home Medical


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Quipt has opportunity to ‘scale aggressively,’ it says

August 24, 2021HME News Staff

CINCINNATI – Quipt Home Medical has reported revenue of $26.2 million for the third quarter of 2021 compared to $18.6 million for the same period last year, a 41% increase.  The company reported net income of $6.3 million compared to a net loss of $2.5 million.  “We continue to produce exceptional results, highlighted by our robust organic growth, driven by the strong execution displayed across the organization, comprised of over 600 dedicated team members,” said...

Financial Results, Quipt Home Medical


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Quipt adds $5.5M in revenues

August 23, 2021HME News Staff

CINCINNATI – Quipt Home Medical recently acquired a company with operations in Missouri for about $2.25 million in cash, adding three locations, 15,000 active patients, and 1,500 unique referring physicians.  The acquired company reported unaudited trailing 12-month annual revenues of about $5.5 million and an expected adjusted EBITDA of $1.1 million.  “We continue to focus on strategic acquisitions that help to build our footprint across the United States,” said...

Acquisition, Quipt Home Medical


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Quipt announces proceeds of $17.5M

July 12, 2021HME News Staff

CINCINNATI – Quipt Home Medical has announced that, as a result of the exercise of common share purchase warrants at CAD$6.40 per share, originally issued in June 2020, the company has issued an aggregate of 3,389,825 common shares in consideration for $17.5 million. “We believe that the warrant exercises are indicative of overwhelming support from our shareholders for the future of Quipt and our vision for growing into a national DME provider focused on superior patient care,”...

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Quipt readies for ‘pivotal time’

June 3, 2021Theresa Flaherty, Managing Editor

CINCINNATI – With a toehold in Florida and $27 million in cash on hand, Quipt Home Medical is serious about growth, company execs said on a recent earnings call.  “We are looking for turnkey respiratory companies that can be seamlessly integrated,” said Hardik Mehta, CFO. “We have a number of targets in sight – 15-plus with a cumulative value in the broad range of $75 million to $150 million.”  A top priority: Leveraging the acquisition of Jacksonville,...

Home Respiratory Equipment, Quipt Home Medical


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Quipt rides ‘tailwinds’ to revenue growth

June 2, 2021HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $24.2 million for its second quarter of fiscal year 2021, a 36% increase compared to the same period in 2020. Adjusted EBITDA was $5.4 million vs. $4.2 million. “As evidenced by our results, home health continues to experience structural tailwinds, which we expect to provide our business extraordinary opportunity for years to come,” said CEO and Chairman Greg Crawford. “With our rebranding process behind us, we are...

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In brief: Brooks-LaSure confirmed, SuperCare contract renewed, telehealth monitoring warranted

May 28, 2021HME News Staff

WASHINGTON -- The Senate on Tuesday confirmed Chiquita Brooks-LaSure to head CMS. Brooks-LaSure served in the Obama Administration, where she helped guide the Affordable Care Act through passage and implementation. She also worked as a Democratic staffer for the Ways and Means Committee in the House of Representatives. “AAHomecare congratulates Chiquita Brooks-LaSure on her confirmation as CMS Administrator,” said the association. “Her experience in roles at CMS, HHS and on...

Chiquita Brooks-LaSure, Fisher & Paykel Healthcare, NSM, Quantum Rehab, Quipt Home Medical, SuperCare, Viemed


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