Viemed’s diversification efforts pay off 

LAFAYETTE, La. – Viemed Healthcare’s sleep business accelerated “meaningfully” in the third quarter of 2025 with a 96% increase in new patient starts year over year. The business will remain a key driver in the company’s push for diversified growth, says CEO Casey Hoyt. 

Sleep surges during quarter 

Resupply grew 51% year-over-year and 33% sequentially, surpassing its PAP rental base for the first time, said Hoyt on a recent call to discuss the company’s earnings. 

“Even though (our sleep business) has been around since our inception, we really haven't started pushing it until, call it, five, six years ago,” he said. “So, what you're seeing is we're now hiring reps specific to selling sleep. They're not complex respiratory reps. They're heavily focused on sleep, and we'll probably leverage them (for) some breast pump sales, as well, throughout the country.” 

Maternal health poised for growth 

Breast pumps, part of the maternal health business that Viemed gained with its acquisition of Illinois-based Lehan’s Medical Equipment, are also poised to be a significant growth driver in 2026, says Hoyt. 

“(We’re) expanding our footprint beyond respiratory and sleep services, while leveraging Viemed's national infrastructure, operational expertise and clinical excellence,” he said. “These results underscore how the addition of this new service line, combined with disciplined execution across all segments, continues to advance our strategic priorities and position Viemed for long-term sustainable growth, outpacing the performance of comparable peers in our sector.” 

Home ventilation remains core 

For another consecutive quarter, ventilation revenue achieved double-digit, year-over-year growth. While it remains the cornerstone of Viemed’s business, it now accounts for less than half of revenue, says Hoyt. The recent implementation of new national coverage guidelines for at-home ventilation for not only Medicare but also Medicare Advantage plans will improve patient access significantly, Hoyt says. 

Ventilation revenue continued its double-digit, year-over-year growth for another consecutive quarter. Hoyt says, although ventilation remains central to Viemed’s business, it now represents less than half of total revenue. He adds that newly implemented national coverage guidelines for at-home ventilation – applicable to both Medicare and Medicare Advantage plans – will significantly enhance patient access. 

“The regulatory process toward clear and objective qualifying criteria is something we've long advocated for, and we're pleased to see these efforts coming to fruition,” he said. “Our clinical teams are fully engaged to ensure readiness and compliance, positioning Viemed to capitalize on regulatory changes, while maintaining the highest standards of patient care.”