Tag: Financial Results

AUCKLAND, New Zealand – Now that the step-up in patient starts for sleep therapy has “probably washed through the previous year,” Fisher & Paykel Healthcare expects to maintain CPAP mask growth of about 10%, says CEO Lewis Gradon.  The company previously reported a 28% increase in revenue in constant currency terms for masks in the first half of financial year 2024, benefitting from significant progress in reducing a backlog of patients seeking therapy, but Gradon previously...

AUCKLAND, New Zealand – Fisher & Paykel Healthcare has reported total operating revenue of $1.74 billion for the 2024 financial year, a 10% increase year over year, or 8% in constant currency.  The company says its growth was driven by solid demand in hospital consumables and strong growth in the obstructive sleep apnea mask business.  “After several years of changing demand patterns, we are pleased to have returned to a trajectory of growth,” said CEO Lewis Gradon....

LAFAYATTE, La. – Viemed Healthcare’s integration of HMP is “hitting its stride,” helping the company build out a more diversified product offering, says CEO Casey Hoyt.  Viemed closed on its acquisition of Tennessee-based Home Medical Products, Inc., a large regional provider of respiratory focused home medical solutions in June 2023. That deal, and a recent joint venture with East Alabama Health that gave Viemed a controlling interest in East Alabama HomeMed, provides...

GOLETA, Calif. – Inogen shared the ways it’s increasing “synergies and efficiencies” across its various sales channels during a recent conference call to discuss its financial results for the first quarter of 2024.  The company’s president and CEO, Kevin Smith, said these efforts include training its team to execute in both its direct-to-consumer and rental channels, launching partnerships within its business-to-business channel and generating new targets in...

PLYMOUTH MEETING, Pa. – AdaptHealth’s diabetes business “outperformed expectations” during the first quarter of 2024 and company execs are cautiously optimistic that their efforts to boost the segment are starting to make headway.  Diabetes revenue was $149.3 million for the quarter, a 2% increase and the first year-over-year increase for the segment since the second quarter of 2023, driven by the company’s moves to double its sales force, name Briah Carey as...

PLYMOUTH MEETING, Pa. – AdaptHealth reported revenue of $792.5 million for the first quarter 2024, a 6.4% increase over the prior year, surpassing expectation of $769.87 million.  Adjusted EBITDA increased to $158.5 million, an 18.3% increase. Free cash flow was negative $38.9 million compared to $51.1 million, primarily driven by delayed payments resulting from the Change Healthcare cyberattack.  “I am pleased to report that AdaptHealth had an excellent first quarter,”...

LAFAYETTE, La. – Viemed Healthcare reported revenues of $50.6 million for the first quarter of 2024, a 28% increase over the prior year.  Net income for the quarter totaled $1.6 million; and adjusted EBITDA totaled $10.1 million, a 21% increase.  "I am tremendously enthusiastic about the company's performance, as we kick off 2024 with strong momentum," said Casey Hoyt, CEO. "Our steadfast investments in personnel and operational enhancements are yielding substantial...

DUBLIN, Ohio – Cardinal Health’s at-Home Solutions operating segment, along with two other segments, reported revenue of $1.2 billion for the third quarter of the company's fiscal year 2024, a 14% increase year over year. The “other” segment, which also includes Nuclear and Precision Health Solutions and OptiFreight Logistics, posted a profit of $11 million, a 5% increase, due to the performance of OptiFreight Logistics. Overall, Cardinal Health reported revenue of $54.9...

RICHMOND, Va. – Owens & Minor reported consolidated revenue of $2.6 billion in the first quarter of 2024, representing year-over-year growth of 4%.  Of that, Patient Direct revenue was $638 million, up 5%.  “Our solid performance in the first quarter was in line with our expectations, as we delivered top-line growth in both segments, adjusted operating margin expansion and improved year-over-year profitability,” said Edward Pesicka, president & CEO. “At the...

SAN DIEGO – ResMed reported revenue of $1.2 billion for the third quarter of fiscal year 2024, a 7% increase compared to the prior year period.  Net income was $300.5 million vs. $232.5 million, a 29% increase.  “ResMed’s strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and software solutions, leading to double-digit mask and accessories revenue growth along with ongoing operational efficiencies to drive margin...