Tag: acquisitions

PHOENIX – AZ MediQuip has received funding from private equity partner Gemini Investors to open new stores across the Southwest and make strategic acquisitions.  Mark Nicotera, who started AZ MediQuip in 2011 and has grown the company to four locations in the Phoenix area, will remain CEO.  “When I started this business, there was a deep need for not just a business to sell HME products, but to also offer complete home medical solutions,” he said. “Our...

Q. Is the timing right to sell my business?  A. This question sparked my interest because on the night of Dec. 21, 2020, the winter solstice, Jupiter and Saturn will form the “Great Conjunction.” They will be in alignment closer together – just 0.1 degree apart – than they have been in nearly 800 years. (They align every 20 years or so, but this is the closest.)  Only you and your adviser can assess your specific timing, but several “planets”...

PLYMOUTH MEETING, Pa. - AdaptHealth reported net revenue of $149.5 million for the fourth quarter ended Dec. 31, 2019, a 38% increase over the same period last year.The provider reported a net loss of $3.4 million for the quarter, including $5.3 million of equity-based compensation and $7.8 million of transaction costs, primarily related to the merger with DFB.For 2019, AdaptHealth reported net revenue of $529.5 million, a 53% increase.It reported a net loss of $15 million for the year, including...

NASHVILLE, Tenn. - Permobil has a new website that features its entire product portfolio—not only power wheelchairs, but also seating and positioning products, and manual wheelchairs—in one place. The manufacturer has beefed up its product portfolio with the acquisitions of The Roho Group in 2015 and TiLite in 2014. “We will better serve our clients by showing our full line of rehabilitation products on the new website, all in one place,” said Larry Jackson, president of Business...

ORLANDO, Fla. - Rotech Healthcare announced last week that it has received contract offers for general HME and standard mobility for all 117 competitive bidding areas as part of the Round 2 re-compete.The national provider has also received offers for respiratory equipment for 116 CBAs.The offers are a bittersweet, Rotech says.“While we are excited about winning oxygen and CPAP in 116 CBAs, we are also disappointed bid pricing rates continue to reach levels that are devastating to the industry,”...

ORLANDO, Fla. - Despite “momentum” from a string of recent acquisitions, Rotech Healthcare plans to lay off 90 employees by Oct. 9.The provider, one of four “nationals” in the HME industry, filed a Worker Adjustment and Retraining Notification with the state on Aug. 12. The layoffs will take place at Rotech's 3600 Vineland Road location, a billing center.“We are going from five (billing centers) to four,” said President and CEO Tim Pigg in an email to HME News....

LAFAYETTE, La. - Oncologix, a diversified medical holding company with operating divisions in medical devices, healthcare services and DME sales and distribution, expects to grow annualized revenues to $25 million by the end of 2015, it announced April 14. It also expects to achieve positive EBITDA of more than $2.6 million. “Our stock price does not accurately reflect the hard work and success of our operating activities and it remains severely undervalued,” CEO Wayne Erwin stated in...

SHELBYVILLE, Ky. - FullCircle Registry has engaged a marketing company to distribute company information to stockholders and the investment community. Innovative Marketing, which has locations in New York, Chicago, Tampa, Fla., and San Diego, will develop, execute and maintain investor relations programs, e-mail investor packages to qualified brokers and individual investors, complete investor sentiment work, conduct an outbound campaign to new investors and communicate with company management for...

HARRISBURG, Pa. - Dynamic Healthcare Services (DHS), a portfolio company of GMH Ventures, a Newtown, Pa.-based private equity group, has continued its string of acquisitions into 2014.DHS has acquired Clarion, Pa.-based Progressive Home Medical Equipment, a full-service HME provider serving the Pittsburgh and western Pennsylvania market. Progressive accepted contracts for respiratory products as part of the Round 1 re-compete that went into effect Jan. 1.“Progressive's presence in the Pittsburgh...

ATLANTA - Brightree has acquired McKinney, Texas-based MedAct, adding 330 HME providers to its customer base.“With the addition of MedAct, we are expanding our market reach to include some of the industry's most nimble HME providers,” said Dave Cormack, president and CEO of Brightree, in a release.MedAct's customers will join Brightree's more than 3,000 customers.Under the terms of the agreement, MedAct CEO Gregg Timmons joins Brightree as executive vice president, MedAct Division. Brightree...