Protech Home Medical highlights growth
By HME News Staff
Updated Tue December 1, 2020
CINCINNATI - Protech Home Medical has reported preliminary revenue in the range of $26.1 million to $26.5 million for the quarter ended Sept. 30, driven by “robust organic growth.” It reported preliminary adjusted EBITDA in the range of $5.6 million to $6.1 million. “We have seen our sleep business pick up in the back half of the year, approaching levels seen early in 2020 and are optimistic the sleep business will return to and surpass pre-pandemic levels in 2021,” said Greg Crawford, CEO and chairman. “As a whole, our business remains robust into our fiscal first quarter of 2021, our M&A pipeline is full, and we are well capitalized with our balance sheet to capture the significant opportunities at our front door.” Company officials noted that CMS's recent decision to drop 13 product categories from Round 2021 of its competitive bidding program “is extremely bullish for our current business.” “It provides us with a significantly clearer outlook on the margin for our overall product mix,” said Hardik Mehta, CFO.
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