Skip to Content

Tag: AdaptHealth


Providers

AdaptHealth works on diabetes, as sleep & oxygen make gains

March 1, 2024Theresa Flaherty, Managing Editor

PLYMOUTH MEETING, Pa. - Diabetes revenue for the fourth quarter of 2023 was down 3.8% against the prior year, driven in part by compression on insulin pumps, but AdaptHealth execs say they plan a big push to boost that part of the business in 2024.  Pump revenue in 2022 was about $160 million, and the company expected revenue of about $120 million in 2023.  “We came right in line with that expectation,” said Jason Clemens, CFO, during a recent call to discuss the company’s...

AdaptHealth, Home Oxygen Equipment, Insulin pumps


Read Full Articlered right arrow icon

Providers

AdaptHealth: ‘Strategic initiatives have started to produce results’ 

February 27, 2024HME News Staff

PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $3.2 billion for fiscal year 2023, an increase of 7.7%.  Despite the revenue increase, the company reported a net loss of $678.9 million, largely due to a substantial pre-tax goodwill impairment of $830.8 million.  AdaptHealth's adjusted EBITDA for 2023 was 13%, reaching $670.8 million. Free cash flow increased to $143.2 million from a negative $17.6 million in 2022.   "We closed out 2023 with strong...

AdaptHealth, Financial Results


Read Full Articlered right arrow icon

On the Editor's Desk

I have questions

November 21, 2023Liz Beaulieu, Editor

YARMOUTH, Maine – One of the most interesting takeaways from the HME News Business Summit in Charlotte, N.C., Oct. 22-24, was just how much commercial insurers care about patient satisfaction.   Brad Heath, an executive vice president with AdaptHealth, was part of a panel at the Summit on disruptive partnerships with payers. AdaptHealth, along with Rotech Healthcare, as we all know, has a contract with Humana to provide certain home medical equipment services to its Medicare Advantage...

AdaptHealth, HME News Business Summit, Humana, Medicare Advantage


Read Full Articlered right arrow icon

Providers

AdaptHealth ready to ‘take responsibility’

November 10, 2023Theresa Flaherty, Managing Editor

PLYMOUTH MEETING, Pa. – AdaptHealth underestimated the size and complexity of ramping up its Humana contract, resulting in a $10 million miss against expectations, company execs said on a call to discuss third quarter earnings.  “Onboarding members is taking longer than we had anticipated, resulting in a reduction to our expected revenues from Humana,” said Richard Barasch, chairman and interim CEO. “Nevertheless, we remain confident that this agreement will achieve...

AdaptHealth, CPAP, Diabetes, Humana


Read Full Articlered right arrow icon

News

In brief: AdaptHealth’s Q3, Medela’s spin-off, Braff Group’s milestone 

November 8, 2023HME News Staff

PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $804 million for the third quarter of 2023, an increase of 6.3% over the same quarter one year ago.  Net loss was $454.1 million compared to net income of $16.1 million, largely resulting from a $511.9 million pre-tax write down of goodwill.  Adjusted EBITDA was $161.2 million, compared to $160.2 million, an increase of 0.6%.  “We are pleased with the results of the third quarter,” said Richard Barasch,...

AdaptHealth, Medela, The Braff Group


Read Full Articlered right arrow icon

Providers

AdaptHealth: Q3 ‘powered by sleep’

November 7, 2023HME News Staff

PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $804 million for the third quarter of 2023, an increase of 6.3% over the same quarter one year ago.  Net loss was $454.1 million compared to net income of $16.1 million, largely resulting from a $511.9 million pre-tax write down of goodwill.  Adjusted EBITDA was $161.2 million, compared to $160.2 million, an increase of 0.6%.  “We are pleased with the results of the third quarter,” said Richard Barasch,...

AdaptHealth


Read Full Articlered right arrow icon

News

In brief: Bid language moves, AdaptHealth gets sued, NC DME wins

November 3, 2023HME News Staff

WASHINGTON – Language that would extend the 75/25 blended Medicare reimbursement rate in non-bid areas through 2024 is included in a draft of omnibus health care legislation in advance of a Senate Finance Committee mark-up session that could take place as early as this week.  Inclusion in this initial draft of legislative language to be considered by the committee does not guarantee the 75/25 provisions from S. 1294 will, ultimately, pass into law, but it's a significant step...

AdaptHealth, Bid Relief, BOC, Tomorrow Health


Read Full Articlered right arrow icon

Providers

Class action filed against AdaptHealth

November 2, 2023HME News Staff

PLYMOUTH MEETING, Pa. – A class action lawsuit has been filed against AdaptHealth alleging the company misrepresented the strength of its diabetes business, causing investors to pay inflated prices for shares in the company.  The lawsuit, filed Oct. 24 in the United States District Court for the Eastern District of Pennsylvania by the Allegheny County Employees Retirement System, alleges that between Aug. 4, 2020, and Feb. 27, 2023, AdaptHealth and certain senior executives overcharged...

AdaptHealth, Diabetes, Lawsuit


Read Full Articlered right arrow icon

News

In brief: AdaptHealth moves on, Boeye moves to Parachute 

September 22, 2023HME News Staff

PLYMOUTH MEETING, Pa. – AdaptHealth and Crispin Teufel have agreed to terminate Teufel’s employment contract.  The company had appointed Teufel as CEO in June, with a start date of Sept. 1, but he was sued in August by former employer Linde, which was seeking to block his appointment for an unspecified time. In the lawsuit, Linde alleged breach of contract, breach of duty of loyalty and misappropriation of trade secrets.   In a filing in late August with the U.S....

AdaptHealth, Crispin Teufel, Parachute Health, Rob Boeye


Read Full Articlered right arrow icon

Crispin Teufel

Providers

AdaptHealth, Teufel part ways

September 20, 2023HME News Staff

PLYMOUTH MEETING, Pa. – AdaptHealth and Crispin Teufel have agreed to terminate Teufel’s employment contract.  The company had appointed Teufel as CEO in June, with a start date of Sept. 1, but he was sued in August by former employer Linde, which was seeking to block his appointment for an unspecified time. In the lawsuit, Linde alleged breach of contract, breach of duty of loyalty and misappropriation of trade secrets.   In a filing in late August with the U.S....

AdaptHealth, Crispin Teufel, Lincare, Linde


Read Full Articlered right arrow icon