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Archive: 2021


Viemed sees ‘dramatic comeback’ 

Specialty Providers

Viemed sees ‘dramatic comeback’ 

May 14, 2021Theresa Flaherty, Managing Editor

LAFAYETTE, La. – After weathering some of its toughest months in January and February from the dual impacts of COVID-19 and a treacherous ice storm, Viemed Healthcare saw significant patient growth in March, says CEO Casey Hoyt.  “In January and February, we were admitting 65% of our pre-COVID new patients,” he said on a recent earnings call to discuss first quarter financial results*. “March was right around 90% of pre-COVID numbers....

Casey Hoyt, Home Respiratory Services, Viemed Healthcare


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AAH on HME: ‘We solve the crisis’ 

News

AAH on HME: ‘We solve the crisis’ 

May 14, 2021Liz Beaulieu, Editor

WASHINGTON – AAHomecare is striking while the iron is hot with its recent decision to engage a public relations firm to help the industry show the value of HME.  “Home oxygen therapy right now is on the tip of the tongue to the average person (due to the COVID-19 pandemic),” said Tom Ryan, president and CEO of the association. “They’ve heard about vents, too. They know, what would a day without...

aahomecare, Home Medical Equipment, Tilly Gambill, Tom Ryan


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Option Care hungry for M&A 

Specialty Providers

Option Care hungry for M&A 

May 14, 2021Theresa Flaherty, Managing Editor

BANNOCKBURN, Ill. – With a tuck-in acquisition in the Southeast, a new state-of-the-art facility in Chicago and new therapies added to its chronic care portfolio, Option Care Health is laying the groundwork for sustainable growth, say company officials.  Option Care announced May 6 it had paid $18.5 million for Houston-based BioCureRx, a regional provider of certain chronic care therapies.  “While limited in size, the BioCure transaction signifies...

home infusion therapy, John Rademacher, Option Care Health


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Justin Smith on growing 3B Medical the PE way

Vendors

Justin Smith on growing 3B Medical the PE way

May 14, 2021Liz Beaulieu, Editor

WINTER HAVEN, Fla. – 3B Medical’s new CEO Justin Smith wants to grow the company to hit $100 million in revenues in the next few years.  Hear what Smith, whose background includes roles at Bear Stearns and ComVest Partners, had to say about how 3B Medical’s product pipeline and acquisition plans make it a company “with legs.”  HME News: What drew you to the health care industry and 3B Medical?  Justin Smith: I...

3B Medical, Justin Smith, private equity


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News

In brief: CMS boosts pay, MSC expands presence

May 14, 2021HME News Staff

WASHINGTON – CMS has established a higher rate of $750 to administer monoclonal antibody treatment to Medicare beneficiaries with COVID-19 in their homes, including permanent residences or temporary lodgings.  The new rate accounts for the increased costs associated with the one-on-one nature of this care model and reflects additional information provided to CMS about providing these services in a safe and timely manner.  “CMS’s decision to increase reimbursement...

apria, CCS Medical, Great Elm Group, Medical Service Company, OxyGo, OxyLife, Prochant, Protech Home Medical


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Providers

MSC expands presence in Wisconsin 

May 14, 2021HME News Staff

CLEVELAND, Ohio – Medical Service Company has acquired Wisconsin-based Metz Medical, a sleep and respiratory services provider with two locations in the Milwaukee area.  The deal gives MSC access to several new payer contracts.  “We are thrilled to welcome several new team members from Metz into the MSC family,” the company stated in a press release. “We look forward to offering our chronic care solutions across Wisconsin.”  The family owned...

Home Respiratory Equipment, Medical Service Company, Metz Medical


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Providers

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...

Great Elm DME, Home Medical Equipment


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Also Noted

Apria appoints two to board 

May 14, 2021HME News Staff

INDIANAPOLIS – Apria has appointed two new board members: Susan Gray and Terri Kline. Gray has held board of director and committee positions in a variety of companies, including 4D Molecular Therapeutics, Maravai Life Sciences, Morphic Therapeutics, BioSplice Therapeutics, Wesleyan University and the Susan G. Komen Foundation. Kline currently serves on the boards of Amedisys, Intersect ENT, SaVida Health and Presbyterian Health Plan. Previously, she...

apria, Susan Gray, Terri Kline


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Prochant earns certification 

Also Noted

Prochant earns certification 

May 13, 2021HME News Staff

CHARLOTTE, N.C. - Prochant is the first HME and pharmacy reimbursement company to earn HITRUST CSF Certification, it says. HITRUST CSF Certified status means Prochant’s Revenue Cycle Services & Platform have met key regulations and industry defined requirements and are appropriately managing risk. “HME and pharmacy reimbursement firms are under immense pressure to meet complex compliance, security and privacy requirements such...

Joey Graham, Prochant


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Also Noted

AZ-MediQuip promotes Radzik 

May 13, 2021HME News Staff

PHOENIX - AZ MediQuip has promoted Mike Radzik to the role of regional director of operations. Radzik is the longest-termed employee of AZ MediQuip, having worked at the company since 2008, serving in a variety of key roles, including a variety of store management positions. “Mike has been an instrumental part of the AZ MediQuip team,” said Mark Belanger, COO of AZ MediQuip. “We are excited to recognize Mike on a well-deserved promotion and thank him for...

AZ Mediquip, Home Medical Equipment, Mike Radzik


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