Providers
AdaptHealth, Teufel part ways
September 20, 2023HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth and Crispin Teufel have agreed to terminate Teufel’s employment contract.
The company had appointed Teufel as CEO in June, with a start date of Sept. 1, but he was sued in August by former employer Linde, which was seeking to block his appointment for an unspecified time. In the lawsuit, Linde alleged breach of contract, breach of duty of loyalty and misappropriation of trade secrets.
In a filing in late August with the U.S....
Best Buy Health, Geisinger partnership ‘makes difference,’ execs say
September 18, 2023HME News Staff
MINNEAPOLIS and DANVILLE, Pa. – Best Buy Health and Geisinger will expand their work together to bring in-home care for patients with chronic conditions.
Beginning in July 2022, Best Buy Health and Geisinger began deploying specially trained Geek Squad Agents to deliver, install and activate remote care management devices in a program that now involves 300 Geisinger patients. While in the home, agents educate patients on the technology in their care plan, answer questions about...
JB Medical, StrongBow Strategies bring health care to Native Americans
September 13, 2023HME News Staff
WIXOM, Mich. – JB Medical and Strongbow Strategies, a Navajo Native American and women-owned company, have formed Strongbow Health, a new partnership aimed at servicing the health care needs of more than 4 million Native Americans in the United States.
To start, the companies will deliver affordable DME, diabetes and pharmaceutical products and services to the homes of Medicaid recipients in New Mexico and the Mountain West regions.
"We are creating an ecosystem of...
Quipt reaches tipping point with new acquisition
September 11, 2023HME News Staff
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...
Lake Superior feels 'bullish' following fire
September 8, 2023Tracy Orzel
DULUTH, Minn. - Lake Superior Medical Equipment is making a comeback in a new Duluth location after a fire razed the business last year.
When President Tom Jamison bought the company seven years ago after working 25 years as a business litigator, he knew it would be a daunting transition.
“I was somewhat prepared for that,” he said. “But nothing really prepares you for a fire; there's no rulebook out there.”
Everything seemed normal when employees...
As natural disasters increase, so do out-of-pocket costs
September 1, 2023Theresa Flaherty, Managing Editor
WASHINGTON – With weather-related disasters seemingly more frequent and extreme, the HME industry remains frustrated that CMS doesn’t acknowledge the increased costs to DMEPOS suppliers, stakeholders say.
A day after Hurricane Idalia made landfall in Florida, CMS announced flexibilities for affected residents needing HME; it followed the same pattern in the days after wildfires devastated Maui in August. But providers – who go above and beyond – often do so at their...
Rotech to explore possible sale?
August 31, 2023HME News Staff
ORLANDO, Fla. – Rotech Healthcare is said to be exploring a possible sale, according to online news reports.
Rotech is said to have tapped investment bank Jefferies Financial Group to advise on its sale process, which could value the company at $1.5B.
In July 2021, the company filed for an initial public offering of up to $100 million in July 2021, with plans to list on the Nasdaq under the symbol ROTK, but paused those plans in 2022, to await more favorable market conditions, President...
Court grants TRO, delaying Teufel’s start date
August 30, 2023HME News Staff
PLYMOUTH MEETING, Pa. – Crispin Teufel won't take the reins as AdaptHealth’s new CEO until at least October amid efforts by his former employer to block the move, according to online news reports.
In a filing with the U.S. Securities and Exchange Commission, AdaptHealth said a U.S. District Court issued a temporary restraining order preventing Teufel from starting his employment with AdaptHealth until Oct. 15.
Lincare filed a lawsuit in Connecticut district court against Teufel,...
Lincare to pay $29M to settle False Claims Act violations
August 29, 2023HME News Staff
SPOKANE, Wash. – Lincare has agreed to pay $29 million settlement to resolve claims that violated the False Claims Act by overbilling Medicare and Medicare Advantage, according to a press release from Vanessa Waldref, the United States Attorney for the Eastern District of Washington.
The settlement requires Lincare to refund wrongful payments made by Medicare beneficiaries and sets up accountability measures to prevent future fraudulent billing.
In the settlement announced...
Quipt predicts strong growth through end of year
August 25, 2023Theresa Flaherty, Managing Editor
CINCINNATI – Quipt Home Medical surpassed its own expectations for organic growth in the third quarter of fiscal year 2023 – a record 4%, ahead of the 2% it expected, said CEO Greg Crawford.
The company anticipates organic growth to continue through the rest of the year, exceeding the 8% to 10% average it has seen annually.
“We have been concentrating our efforts on areas with the high prevalence of COPD and penetrating our key sales touch points into continual...