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Tag: Financial Results


F&P predicts revenue boost in second half 

Vendors

F&P predicts revenue boost in second half 

August 22, 2022HME News Staff

AUCKLAND, N.Z. – Fisher & Paykel Healthcare expects operating revenue for the first half of the 2023 financial year to be about $670 million and net profit after tax to be about $85 million to $95 million, assuming current exchange rates and a continuation of trading conditions in the first four months.  This would represent an increase in revenue on pre-pandemic levels ($570.9 million in the first half of fiscal year 2020) and a decline in revenue compared to the prior comparable period...

Financial Results, Fisher & Paykel Healthcare


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Matt Monaghan

Vendors

Invacare tries to speed up order conversions 

August 12, 2022Liz Beaulieu, Editor

ELYRIA, Ohio – Invacare expects recent strategic funding will increase the company’s liquidity and flexibility, helping it to reduce an elevated backlog.  The company announced in late July that it had secured a term loan agreement of up to $104.5 million, with certain funds managed by Highbridge Capital Management LLC.   “We expect this strategic funding will enable us to more effectively work with our suppliers and find alternative solutions to short-term...

Backlog, Financial Results, Invacare


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Mick Farrell

Vendors

ResMed reports ‘strong growth’

August 12, 2022HME News Staff

SAN DIEGO – ResMed reported revenue of $914.7 million for the fourth quarter of 2022, a 4% increase compared to the same period in 2021. It reported revenue of $3.6 billion for fiscal year 2022, a 12% increase compared to 2021. “Our fourth quarter and full-year fiscal year 2022 results demonstrate strong growth and ResMed’s market leadership,” said Mick Farrell, ResMed’s CEO. “During the quarter, we saw continued adoption of our most advanced platform innovation...

CPAP Therapy, Financial Results, ResMed


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Vendors

Inogen reports slight increase 

August 5, 2022HME News Staff

GOLETA, Calif. – Inogen reported total revenues of $103.4 million for the second quarter of 2022, a 1.8% increase compared to the same period in 2021 and a 28.6% increase compared to the prior quarter.  “We delivered solid performance in the quarter driven by our ability to fulfill customer demand, while effectively managing supply chain challenges and macro headwinds,” said Nabil Shabshab, Inogen’s president and CEO.  Other financial results:  Adjusted...

Financial Results, Inogen, Portable Oxygen Concentrator


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Vendors

Philips reports declines

July 25, 2022HME News Staff

AMSTERDAM – Comparable sales for the Connected Care business at Philips decreased 13% in the second quarter of 2022, mainly due to the consequences of a major recall and supply chain headwinds.  The company says it is making progress on the recall, producing more than 3 million replacement devices and repair kits to date.  “Philips Respironics aims to further increase capacity and complete around 90% of the production and shipments to customers in 2022,” the company...

CPAP recall, Financial Results, Philips


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Viemed balances business, wins at QIC level 

Specialty Providers

Viemed balances business, wins at QIC level 

May 20, 2022Theresa Flaherty, Managing Editor

LAFAYETTE, La. – Viemed’s latest growth figures signal that business is returning to something close to normal, company execs said during a recent call to discuss first quarter financial results for 2022.  The company reported core net revenues increased 18% compared to the same period last year.  “To sum up the overall theme of the first quarter, I would say execution, fueled by demand, driven by return-to-normal course of business,” said CEO Casey Hoyt.  Viemed...

Appeals, Financial Results, Qualified Independent Contractor, Viemed Healthcare


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Providers

Quipt Home Medical sees ‘accelerating momentum’ 

May 17, 2022HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $33.6 million for the second quarter of fiscal year 2022, a 38% increase over the same period last year.  It reported net income of $5 million vs. a net loss of $12.5 million.  “We are extremely proud of the robust results we experienced in our fiscal second quarter, which showed accelerating momentum across our heavily weighted respiratory product mix as the quarter progressed,” said CEO and Chairman Greg Crawford....

CPAP Therapy, Financial Results, Quipt Home Medical


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Providers

AdaptHealth sees 'resilience' in HME

May 10, 2022HME News Staff

PLYMOUTH MEETING, Pa. – AdaptHealth delivered “solid” net revenue of $706.2 million for the first quarter of 2022, an increase of 46.5% over the same period the previous year.  Organic growth for the quarter was 3.7% and non-acquired growth was 3.7%  “We are very pleased with our strong start to the year,” said Steve Griggs, CEO. “During the quarter, we have seen continued strength in our diabetes product line, consistent with our expectations,...

AdaptHealth, CPAP set ups, Financial Results


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Vendors

Invacare juggles demand, costs

May 10, 2022HME News Staff

ELYRIA, Ohio – Invacare reported net sales of $201 million for the first quarter of 2022, a 2.4% increase compared to the same period last year.  For North America, net sales were $75.3 million vs. $76 million, a 0.9% decrease, with double-digit growth in sales of mobility and seating products offset by lower sales of lifestyle and respiratory products.   "In 1Q22, we delivered 2.4% reported net sales and 6.4% constant currency net sales growth driven by sales of mobility &...

Financial Results, Invacare


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Vendors

Inogen: ‘We continue to address higher costs’ 

May 6, 2022HME News Staff

IGOLETA, Calif. – Inogen reported total revenue of $80.4 million for the first quarter of 2022, down 7.5% from the same period in 2021, primarily due to supply chain constraints.  The company says, however, that total revenue was up 5.2% sequentially from the fourth quarter of 2021.  Inogen reported revenue of $34.4 million for its domestic direct-to-consumer channel, up 12.2%; and revenue of $5.1 million for its domestic business-to-business channel, down 83.4%. It reported...

Financial Results, Inogen, Portable Oxygen Concentrator


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