Tag: Financial Results
Option Care reports double-digit growth
April 23, 2024HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported revenue of $1.14 billion for the first quarter of 2024, an increase of 12.8% compared to the same quarter last year, despite the disruption caused by the Change Healthcare cyberattack in February.
“The Option Care Health team delivered solid financial results while navigating a disruptive environment,” said John Rademacher, CEO. “I am proud of the resilient enterprise we have built and the team's unwavering commitment...
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...
Quipt reports ‘robust’ financial results
February 15, 2024HME News Staff
CINCINNATI – Quipt Home Medical reported revenue of $65.4 million for the first quarter of fiscal 2024, a 60% increase compared to the same period last year.
Adjusted EBITDA was $15.3 million (23.5% of revenue) vs. $9.0 million (22% of revenue), a 71% increase; and net income (loss) was $(0.6) million vs. $0.3 million.
“We continued experiencing robust demand trends in the first quarter across our diverse product offering and are very pleased with the continued record...
Quipt Home Medical exits FY23 with strong momentum
December 19, 2023HME News Staff
CINCINNATI – Quipt Home Medical reported revenue of $221.7 million for fiscal year 2023, a 59% increase compared to the previous year.
It reported a net loss of $2.8 million vs. a net loss of $4.8 million, and an adjusted EBITDA of 22.8% of revenue vs. 20.9% of revenue.
“We exited fiscal 2023 with strong momentum across the organization, and substantial operating scale achieved, posting record results,” said CEO and Chairman Greg Crawford. “Our growth strategy...
F&P reports 28% increase in mask revenue
December 1, 2023Liz Beaulieu, Editor
AUCKLAND, New Zealand – Fisher & Paykel Healthcare continues to post solid results for its Homecare Product Group, buoyed by masks and accessories for sleep apnea, but CEO Lewis Gradon warned that the company faces tougher comps in the second half of its 2024 fiscal year.
The company reported revenue of $314.4 million for the Homecare Product group for the first half of FY24, a 26% increase from the prior comparable period.
“Evora Full was introduced in the U.S. (in...
Cardinal Health raises outlook on strong Q1
November 6, 2023HME News Staff
DUBLIN, Ohio – Cardinal Health reported revenue of $54.8 billion for the first quarter of fiscal year 2024, a 10% increase year over year.
The company reported revenue of $3.8 billion for its medical segment, which was flat due to lower PPE volumes and pricing, offset by growth in at-Home Solutions and inflationary impacts, including mitigation initiatives.
"With strong first quarter results, we are continuing our operating momentum into fiscal 2024," said Jason Hollar, CEO...
Owens & Minor’s Patient Direct segment ‘outperforms’
November 3, 2023HME News Staff
RICHMOND, Va. – Owens & Minor reported third quarter revenue of $648 million for its Patient Direct segment, up 9.1% compared to the same period in 2022.
Overall, the company reported consolidated revenue of $2.59 billion, an increase of 3.8%.
“Our performance in the third quarter is another strong indication that our business strategy and execution are working, and that we are beginning to realize the benefits of the Operating Model Realignment Program,” said...
ResMed sees improved funnel
October 27, 2023HME News Staff
SAN DIEGO – ResMed reported revenue of $1.1 billion for the first quarter of fiscal year 2024, a 16% increase.
“ResMed has started fiscal year 2024 with strong revenue growth driven by ongoing patient flow and solid demand across our global sleep and respiratory care markets, alongside increasing adoption of our outside hospital software solutions,” said Mick Farrell, ResMed’s CEO. “Our ability to meet global demand with technologies, including our best-in-class...
In brief: Philips grows sales, Woman of the Year noms open
October 25, 2023HME News Staff
AMSTERDAM – Philips’ Connected Care business saw a 10% increase in comparable sales in the third quarter, with double-digit growth in monitoring.
Overall, the company reported group sales of EUR 4.5 billion and comparable sales growth of 11%.
“Our improved operational performance was driven by our focus on execution to enhance patient safety and quality, strengthen our supply chain reliability and establish a simplified operating model,” said Roy Jakobs,...
In brief: Philips gets new investor, Quipt strengthens ops
August 15, 2023HME News Staff
AMSTERDAM – Royal Philips has announced that Exor, a diversified holding company based in the Netherlands, has bought a 15% shareholding in the company.
As a result, Exor, which has a net asset value of about EUR 33 billion, will nominate one member to the company's Supervisory Board.
“Exor’s investment in Philips, their long-term outlook and increased focus on healthcare and technology, fit well with our strategy and substantial value creation potential,”...