Tag: Financial Results

CINCINNATI – Quipt Home Medical has reported revenue of $26.2 million for the third quarter of 2021 compared to $18.6 million for the same period last year, a 41% increase.  The company reported net income of $6.3 million compared to a net loss of $2.5 million.  “We continue to produce exceptional results, highlighted by our robust organic growth, driven by the strong execution displayed across the organization, comprised of over 600 dedicated team members,” said...

GOLETA, Calif. – Inogen reported total revenue of $101.6 million for the second quarter of 2021, a 41.7% increase compared to the same period in 2020, primarily due to strong consumer demand, improved average selling prices in all channels and reduced COVID-19 pandemic-related impacts. The company reported domestic direct-to-consumer revenue of $40.9 million, a 35.6% increase. Rental revenue was $11.3 million, an 85.2% increase. “We saw strong revenue growth of 41.7% as compared...

ELYRIA, Ohio – Invacare reported net sales increased 15.1% to $225.9 million in the second quarter of 2021 compared to the same period in 2020. Net sales for the North America business unit increased 11.2% to $96.2 million year over year, with strong growth in mobility and seating, and respiratory products. “We achieved high single-digit constant currency net sales growth, with increases in all product categories,” said Matt Monaghan, chairman, president and CEO. “Importantly,...

PLYMOUTH MEETING, Mass. – Adapt Health reported net revenue of $617 million for the second quarter of 2021, an increase of 166% over the second quarter in 2020.  Adjusted EBITDA was $147.4 million, a 246% increase; and adjusted EBITDA less patient equipment capex was $98.9 million, a 223% increase.  Organic growth for the quarter was 10.1%.  “Our business continues to grow organically as well as through strategic acquisitions in key markets, which complement our...

AMSTERDAM – Philips reported a 16% decline in sales for its Connected Care business, which includes Sleep and Respiratory Care, for the second quarter of 2021 compared to the same period last year, in the wake of a massive recall of certain CPAP devices and ventilators.  Mid-single-digit growth in Hospital Patient Monitoring was more than offset by a double-digit decline in Sleep & Respiratory Care, the company says.  “We have mobilized the necessary resources across the...

INDIANAPOLIS – Apria reported net revenue of $275.3 million for the first quarter of 2021, a 2% increase compared to the same period last year.  It reported a net income of $4.5 million, a 29% decrease.  “We delivered strong first quarter 2021 results ahead of our expectations on all three of our key metrics and we built on momentum from 2020 establishing a solid foundation for future growth,” said Dan Starck, CEO. “The country experienced a significant surge...

LAFAYETTE, La. – Viemed Healthcare reported net revenues for its core business were $25.5 million for the first quarter ended March 31, 2021, a 12% increase compared to the same quarter last year.  Total revenues were $28.4 million, including $2.9 million for contract tracing services and product sales related to the COVID-19 pandemic.  “The first quarter will very likely be the quarter where things began to reopen from the COVID-19 pandemic and I am once again...

CINCINNATI – Protech Home Medical reported revenue of $22.8 million for the first quarter of fiscal year 2021, a 32% increase compared to the same period in 2020.  Adjusted EBITDA was $5.1 million vs. $3.3 million, a 53% increase.  “The momentum across the business continues to be robust as evidenced by our first quarter financial and operating results, and I am pleased to saw that we are seeing similar strong trends into our second quarter,” said CEO and Chairman...

BRISBANE, Australia – Oventus Medical has booked revenues of $550,232 for the six-month period ended Dec. 31, a 192% increase over the prior period. The company credits growth driven by lab-in-lab sites that remained operational during the pandemic, continuing to scan patients; an expansion of the telehealth extension of the lab-in-lab program; and an increase in direct sales to dentists who delivered treatments in their own practices, as well as through lab-in-lab programs. “We...

WALTHAM, Mass. – Great Elm Group reported $14.5 million in total revenue for DME for the three months ended Dec. 31, a 1% increase compared to the same period last year.  It reported a net loss of $2.9 million vs. $700,000.  “DME was able to grow revenue during the quarter despite the continued negative impact of COVID-19 on its business,” said Peter Reed, CEO. “Profitability was depressed during the quarter primarily as a result of legacy revenue reserve issues...