Viemed posts record-breaking revenues, EBITDA
By HME News Staff
Updated Thu August 6, 2020
LAFAYETTE, La. - Viemed Healthcare reported second quarter net revenue of $42.9 million, an increase of 111% compared to the second quarter 2019. Of that, approximately $19.7 million was from product sales related to the ongoing COVID-19 pandemic. Net income for the quarter was $19.4 million, a company record, compared to $1.3 million the same quarter in 2019. “We have once again demonstrated our ability to create value while serving as a resource for those in need during the COVID-19 pandemic,” said Casey Hoyt, CEO. “We continue to adapt to the ongoing changes in the healthcare system and are developing new ways to collaborate with referral sources to ensure that all eligible patients can obtain our quality care and service.”Adjusted EBITDA totaled approximately $16.3 million for the quarter, another company record. The company has a current cash balance of $29.7 million.
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