Quipt reportedly files suit amid ongoing buyout battle
By HME News Staff
Updated 10:07 AM CDT, Tue September 9, 2025
WILDER, Ky. – The tug of war between Quipt Home Medical and Forager Capital Management continues. Quipt has reportedly filed a lawsuit against Forager, one of its largest shareholders, and Forager has released a statement standing by its offer to buy the company for $3.10 per share in cash.
Quipt in late August responded to Forager’s offer, saying it was only the latest in the firm’s “self-serving inferior and declining offers.” Quipt noted that Forager had previously offered to buy the company for $3.90 per share – and that was before the company acquired a DME provider from Ballad Health and entered into a joint venture to acquire a 60% ownership interest in Hart Medical.
According to Cincinnati Business Insider, Quipt has now filed suit.
Forager says it reduced its offer to reflect “the material decline in free cash flow and the board’s massively dilutive, self-serving equity grants,” as well as its share price following the news of its recent acquisitions.
“The clear path to creating shareholder value is to negotiate a transaction with us, or any higher bidder,” Forager stated. “It’s now been 230 days since our initial proposal. Every day the board delays reduces the IRR for shareholders. That is, by definition, destruction of shareholder value.”
During a recent call to discuss its latest financial results, Quipt said it now services more than 325,000 active patients through 160 locations in 27 states, with respiratory care comprising 75% of its product mix.
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