Tag: Respiratory

CINCINNATI – Quipt Home Medical has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of about $ 9 million and adjusted EDITDA of $2 million post-integration.  The company says the acquisition adds scale with 10 locations, 17,500 active patients, 1,900 unique referring physicians and important insurance contracts.  “The completion of this transaction demonstrates our ongoing patience and discipline as it relates...

CINCINNATI – Quipt Home Medical reported revenues were $60.3 million for the third quarter of fiscal year 2023, a 64% increase year over year and a 4% increase sequentially.  Adjusted EBITDA was $13.9 million (23% of revenues) vs. $7.7 million (21% of revenues), representing an 80% increase year over year.  “Throughout the year, our business has continued to strengthen, and we are experiencing the organic growth and margin expansion that we had been aiming for,”...

RICHMOND, Va. – Owens & Minor execs say they remain “bullish” on the company’s Patient Direct segment, which has posted double-digit growth for four consecutive quarters, but the home respiratory category, specifically, isn’t where they’d like to see it.  Patient Direct’s revenue for the second quarter of 2023 was $633 million, up 10.5% over the same period in 2022.  “It is clear that the powerful brands of Byram and Apria are working...

WATERLOO, Iowa – VGM & Associates has signed a new vendor agreement with O2 Concepts. "Embracing progress, we proudly expand the VGM Respiratory portfolio with the addition of O2 Concepts,” said Boone Lockard, director of VGM Respiratory. “With O2 Concepts’ innovative POC portfolio and revolutionary DNA platform, we enhance our ability to meet the evolving needs of VGM members and patients. This partnership is a step forward in our commitment to delivering exceptional respiratory...

CHICAGO – New Harbor Capital has announced that its portfolio company Grand Rapids, Mich.-based Advent Home Medical has acquired Charlotte, N.C.-based Med Emporium, strengthening the company’s respiratory focus and paving the way for it to expand into new geographies.  It’s Advent Home Medical’s third acquisition in partnership with New Harbor Capital, which completed a majority investment in the company in March 2021.  “We are very excited to partner...

AMSTERDAM – Royal Philips has appointed Julia Strandberg as chief business leader of its Connected Care businesses, including sleep and respiratory care, effective April 24, 2023.  Strandberg, who was most recently chief commercial officer for Pear Therapeutics, will also become a member of the company’s Executive Committee, reporting to CEO Roy Jakobs.  “Julia brings deep, multi-disciplinary expertise, including in informatics and monitoring, to Philips,”...

AMSTERDAM – Royal Philips has appointed Julia Strandberg as chief business leader of its Connected Care businesses, including sleep and respiratory care, effective April 24, 2023.  Strandberg, who was most recently chief commercial officer for Pear Therapeutics, will also become a member of the company’s Executive Committee, reporting to CEO Roy Jakobs.  “Julia brings deep, multi-disciplinary expertise, including in informatics and monitoring, to Philips,”...

SARASOTA, Fla. - React Health subsidiary Ventec Systems has acquired Invacare’s respiratory assets.  Invacare announced late last year that it would be exiting the respiratory market.  “With this acquisition, React Health is well positioned to continue to support the end-to-end care of patients with cardiology, sleep and respiratory illnesses, in partnership with physicians and providers of diagnostic and needed therapies,” said Tom Pontzius, president of operations...

When I spoke with Geoffrey Purtill in September, he hinted that some dramatic changes were coming Invacare’s way, but he couldn’t say at that time what they were. The need for changes didn’t come as a surprise. Following a consent decree with the U.S. Food and Drug Administration, Invacare has continued to struggle to find its footing and then the pandemic hit, with all of its baggage. A company that once had a market cap of more than $1 billion now stands at $19.72 million. But...

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...