Quipt adds repair services through acquisition
By HME News Staff
Updated 9:56 AM CST, Wed November 17, 2021
CINCINNATI — Quipt Home Medical has acquired a privately held biomedical services company with operations in the Southeastern United States reporting unaudited trailing 12-month annual revenues of approximately $1.5 million and net income of $225,000.
Quipt acquired the biomedical services operation for approximately $700,000 in cash, expanding its services to include biomedical repair services for respiratory equipment, including preventative maintenance.
“We are delighted to enter this segment of the market, a logical fit for us given the growing number of patients and referral partners in our network, as well as the burgeoning amount of equipment deliveries we complete every year,” said Greg Crawford, chairman and CEO. “The opportunity to include annual preventative maintenance and repair services for respiratory equipment is timely and we feel we can penetrate new and existing long term care facilities, hospital systems and other medical facilities with this additional service.”
The acquisition services a wide range of respiratory products, including ventilators, oxygen devices, CPAP/bilevel devices and more from both the acute and non-acute settings from within the home and hospital environments.
Other acquisitions by Quipt announced this month include companies in the Midwest and Illinois.
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