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Tag: Quipt Home Medical


News

 In brief: VGM searches, sleep study questions, Quipt accelerates

May 20, 2022HME News Staff

WATERLOO, Iowa – VGM Group has begun a nationwide search for a new president to lead its VGM & Associates division.  Clint Geffert, who joined VGM in 2012, has announced his resignation to pursue a new role with a manufacturer and distributor in the HME industry. Geffert spent his time as president focused on identifying solutions for VGM members, so they could focus on providing high quality care at a better cost.  “Clint remains a friend to VGM and a valued leader in...

Clint Geffert, CPAP Therapy, Quipt Home Medical, The VGM Group


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Providers

Quipt Home Medical sees ‘accelerating momentum’ 

May 17, 2022HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $33.6 million for the second quarter of fiscal year 2022, a 38% increase over the same period last year.  It reported net income of $5 million vs. a net loss of $12.5 million.  “We are extremely proud of the robust results we experienced in our fiscal second quarter, which showed accelerating momentum across our heavily weighted respiratory product mix as the quarter progressed,” said CEO and Chairman Greg Crawford....

CPAP Therapy, Financial Results, Quipt Home Medical


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Also Noted

Quipt secures national insurance contract

April 26, 2022HME News Staff

CINCINNATI – Quipt Home Medical has executed a national contract with a top five health insurer in the United States. “The execution of this national insurance contract with the largest commercial payer in the United States is a major milestone for Quipt and serves as a further accelerant to our long-term growth plans,” said Greg Crawford, chairman and CEO. “The national contract is expected to be meaningful as we continue to expand into new states, broadening our operating...

Quipt Home Medical


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News

In brief: Quipt acquires, Humana divests, F&P debuts

April 22, 2022HME News Staff

CINCINNATI – Quipt Home Medical has acquired Good Night Medical, a business with operations across seven states, for about $7 million in cash.  The acquisition provides Quipt Home Medical with expansion opportunities into Massachusetts, North Carolina and Texas, where it doesn’t have a presence.  “Good Night Medical strengthens our healthcare network across multiple states, enhancing our national coverage sphere over an area that includes about 5 million COPD sufferers...

ACHC, CPAP, Fisher & Paykel, Good Night Medical, Harmar, Humana, Orthotics, Quipt Home Medical


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Specialty Providers

Quipt buys Good Night

April 19, 2022HME News Staff

CINCINNATI – Quipt Home Medical has acquired Good Night Medical, a business with operations across seven states, for about $7 million in cash.  The acquisition provides Quipt Home Medical with expansion opportunities into Massachusetts, North Carolina and Texas, where it doesn’t have a presence.  “Good Night Medical strengthens our healthcare network across multiple states, enhancing our national coverage sphere over an area that includes about 5 million COPD sufferers...

CPAP Therapy, Good Night Medical, M&A, Quipt Home Medical, Respiratory Therapy


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Also Noted

Quipt reports increase for Q1

February 16, 2022HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $29.5 million for its fiscal first quarter 2022, which ended Dec. 31, 2021, an increase of 30% over the same quarter one year ago. Adjusted EBITDA was $6 million vs. $5.2 million, a 16% increase. Cash flow from continuing operations was $5.3 million vs. $2.8 million, an increase of 90%. “The continued momentum across the business shown through our record first quarter results exemplifies our ability to successfully navigate our operations...

Quipt Home Medical


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Providers

Quipt reports 'pretty large backlog’ in CPAP setups

February 4, 2022Theresa Flaherty, Managing Editor

CINCINNATI – Despite an industry-wide shortage of CPAP devices that has significantly hampered new sleep setups, Quipt Home Medical Equipment had an “extraordinary” 2021 and plans to build on that momentum throughout 2022, say company execs.  At the end of December, the company had approximately 8,000 patients waiting to be set up on sleep devices, compared to a more typical 1,000 patients, said Greg Crawford, CEO, on a recent earnings call.  “We've got...

CPAP, Quipt Home Medical


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Also Noted

Quipt names former E&Y exec to board

February 3, 2022HME News Staff

CINCINNATI – Quipt Home Medical has named Brian Wessel to its board of directors as an independent director and chairman of its Audit Committee. Wessel is a senior business executive with more than 34 years of global client service, operational and financial expertise, most recently as a senior partner at Ernst & Young. “The board is excited to welcome Mr. Wessel to serve as an independent director and serve as its Audit Committee Chair during a substantial period of growth for Quipt,”...

Brian Wessel, Quipt Home Medical


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Hardik Mehta

Providers

Quipt nearly doubles revenue

January 28, 2022HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $102.4 million for fiscal year 2021, a 41% increase compared to $72.6 million for fiscal year 2020.  The company experienced organic growth of 10%.  For the fourth quarter, it reported revenue of $29.1 million compared to $19.7 million for the prior year, a 48% increase; organic growth of 14%, excluding new acquisitions; and adjusted EBITDA of$5.6 million, 19.2% margin.  “We are extremely proud of breaching the...

Quipt Home Medical


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Providers

Quipt gains large new market with latest acquisition

January 4, 2022HME News Staff

CINCINNATI – Quipt Home Medical has acquired At Home Health Equipment, an Indiana-based provider with unaudited trailing 12-month annual revenues of about $13 million and net income of $1.6 million.  Quipt says the acquisition creates its single largest market from a revenue standpoint: Indianapolis.  “This is a significant acquisition as it creates the largest single market for us in a very attractive region, allowing us the ability to strengthen our overall interconnected...

Hospice, M&A, Quipt Home Medical


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