Viemed reports strong sleep therapy growth, eyes resupply boom ahead
By Theresa Flaherty
Updated 10:24 AM CDT, Fri August 8, 2025
LAFAYETTE, La. – Viemed reported strong growth for its second quarter, with the fastest growth in its sleep division, CEO Casey Hoyt said on a recent earnings call.
During the quarter, the company’s sleep therapy patient census was up 15% sequentially and 51% year-over-year. New patient setups were up 72% year-over-year.
“We're focused on aggressively maintaining this growth trend with eight new sleep areas launched since the beginning of the year,” said Hoyt.
Resupply pull through
With the rapid growth of patients under therapy and new starts, Viemed expects to also see strong growth in resupply in the back half of this year and beyond, as these patients get pulled over the entire program, Hoyt says.
“We're seeing a similar growth trajectory with our patients in our resupply program, which was up 10% sequentially and 25% year over year,” he said. “We are also pleased to see an influx of patients transferring their sleep resupply needs to our program from our competitors.”
‘A story of diversification and execution’
In July, Viemed closed on its acquisition of Lehan’s Medical Equipment, a strategic buy that further expands both its geographic territory and its product mix, says Hoyt.
“With Lehan's, we're entering the maternal health space, further diversifying our patient base and leveraging Viemed's national infrastructure and payer relationships to reach new patient populations earlier in their healthcare journey,” he said. “At the same time, we're using Lehan's footprint to expand our existing complex respiratory and sleep offerings in Illinois and Wisconsin, just as we've done organically in other markets. This has clearly become a story of diversification and education.”
‘We’ve been preparing for this’
Hoyt offered some color on a new national coverage determination for home mechanical ventilation, saying Viemed is “overall pleased with the final rule,” particularly the decision to remove the requirement for patients to “try and fail” on another device before qualifying for an HMV.
“That’s a huge victory for patients because the MA plans are leaning on step therapy as a means to divert and defer using non-invasive ventilation on patients,” he said. “Now the plans will have to follow the NCD, making this less burdensome for the patient and reducing our operational lift of swapping out equipment.”
While the new rule does require new documentation and patient use metrics, Hoyt says Viemed stands ready to comply. He predicts, however, that “mom-and-pop” operators will struggle, leading to possible industry consolidation.
“We’ve been preparing for this requirement for a while,” he said. “We are ready with our Engage Care Manager technology platform, which has been designed to help us document usage and compliance.”
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