Quipt Home Medical enters new phase

CINCINNATI – Quipt Home Medical has completed its sale to affiliates of Kingswood Capital Management and Forager Capital Management for $3.65 per share, ending a contentious nine months for the home medical equipment (HME) company.

The company will be delisted from the NASDAQ and the Toronto Stock Exchange at close of business on March 17.

“We are pleased to announce the successful conclusion of this transformative transaction, which initiates an exciting new phase for Quipt as a privately held entity,” said Greg Crawford, CEO. “On behalf of our board of directors and management team, I extend our sincere gratitude to our shareholders for their trust, support, and strong endorsement throughout this process. We believe this transaction strategically positions the Company for sustained long-term success. We wish to express our appreciation to all advisors, with particular acknowledgment to our legal advisors at DLA Piper for their exceptional guidance during this transaction.”

Kingswood Capital and Forager Management thanked Crawford, CFO Hardik Mehta and the rest of the team at Quipt Home Medical for the foundation they have built.

“Quipt’s culture, patient-first approach, and commitment to clinical excellence have positioned the Company as a leader in home-based respiratory care,” Kingswood Partner Michael Niegsch and Forager Partner Johnny Wilhelm jointly commented. “As we move forward, our focus will be on supporting the team, investing in the platform, and building upon the Company’s momentum to drive long-term growth.”

The completion of the sale marks a contentious nine months for Quipt Home Medical:

• In May 2025, the company announced that it had received an unsolicited non-binding and conditional and indicative proposal from Forager Capital to acquire 100% of the company’s issued and outstanding shares for $3.10 per common share.
• In August, Forager Capital updated its offer.
• In September, Quipt Home Medical reportedly filed suit against Forager Capital.
• In December, Quipt Home Medical announced it had agreed to be bought out by a special-purpose acquisition vehicle (SPAC) funded by King Capital and Forager Capital.

In December, Quipt Home Medical reported revenue of $68.3 million for the fourth quarter of 2025, an 11% increase year over year. It reported revenue of $254.5 million for fiscal-year 2025, a slight decrease.