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Protech reports double-digit increases in its customer base

Protech reports double-digit increases in its customer base

CINCINNATI - Protech Home Medical reported revenue of $25.9 million for the third quarter of 2020, a 28% increase compared to the same period last year and a 7% increase from the previous quarter.

Adjusted EBITDA was $5.5 million vs. $3.8 million, a 47% increase year over year.

The company's operational highlights for the quarter included:

  • Its customer base hit 37,128 in the third quarter, a 19% increase year over year.
  • Respiratory resupply setups and/or deliveries hit 14,436, a 31% increase.
  • Equipment setups hit 57,551, an 11% increase.

“The third quarter of 2020 was full of milestones for Protech,” including run-rate revenues of $100 million, said Greg Crawford, CEO and chairman. “The acceleration of the need for in-home health care solutions is being felt across the industry, and powerful tailwinds continue to be felt at our front door. With the strongest balance sheet in our history, we are poised to take advantage of opportunities to significantly scale our business.”

Protech also restated its plans to acquire a respiratory company in the Midwest.


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