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Tag: Great Elm


Quipt: ‘We are seeing considerable momentum’ 

February 14, 2023HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $40.8 million for its first quarter fiscal 2023, a 38% increase year-over-year.  Adjusted EBITDA for the quarter was $9 million. Cash flow from continuing operations was $4.8 million and recurring revenue exceeded 77% of total revenue.  “We are pleased to announce another record quarter in the first quarter of our fiscal year 2023, and we are seeing considerable momentum throughout the business as calendar year 2023 gets...

Financial Results, Great Elm, Quipt Home Medical

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Great Elm simplifies structure

March 22, 2021HME News Staff

WALTHAM, Mass. – Great Elm Group, which has operating companies in DME, has reached an agreement with MAST Capital Management that results in a simplified capital structure and cleaner corporate governance. GEG will issue $2.24 million of 5% Convertible Senior PIK Notes due 2030 to MAST in exchange for all outstanding obligations under the $3.1 million Senior Secured Note issued by GECC GP to MAST, all common stock in GP held...

Capital, Corporate Governance, Great Elm, MAST Capital Management

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Great Elm receives financing, rebrands 

December 22, 2020HME News Staff

WALTHAM, Mass. – Great Elm Capital has received a preferred equity investment of $37.7 million from an affiliate of JPMorgan Chase & Co. Proceeds will be used to refinance Great Elm’s DME business and to provide the business with growth capital, the company says. “This financing transaction enables the firm to accelerate the growth of our existing businesses and at the same time provides incremental capital to acquire additional businesses,” said Peter Reed, Great Elm’s...

Financing, Great Elm, Investment

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Great Elm DME expands in Midwest

June 14, 2019HME News Staff

WALTHAM, Mass. - Focus Respiratory, a wholly owned subsidiary of Great Elm DME, has acquired the respiratory assets of Omaha, Neb.-based Midwest Respiratory Care in an all-cash transaction valued at about $6.25 million. The price tag is 4.6x MRC's EBITDA, less capital expenditures for the 12 months ended April 30, 2019. “We believe there is a significant opportunity to make additional acquisitions in existing and adjacent geographies,” said Peter A. Reed, CEO of Great Elm Capital,...

Great Elm, Mergers & Acquisitions (M&A), Respiratory

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In brief: NHIA sues over transitional payment, Great Elm's DME biz exceeds expectations

February 15, 2019HME News Staff

WASHINGTON - The National Home Infusion Association is suing the Department of Health and Human Services over its transitional payment for home infusion therapy services.A final rule published in November 2018 limits reimbursement for professional services to only those days a “skilled professional is in the home.”Under CMS's interpretation, reimbursement for services by pharmacists and other professionals services are not recognized, according to a press release.“This rule undercuts...

Great Elm, Home Infusion, KCI, KMESA, Lymphedema Treatment Act, PHS

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