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Tag: Great Elm DME


Providers

Great Elm Group reports DME loss 

May 14, 2021HME News Staff

WALTHAM, Mass. – Great Elm Group reported DME revenue of $13.1 million for its third quarter 2021, compared to $14.1 million for the same quarter last year.  It reported a net loss of $5.1 million vs. a net loss of $1.4 million, and adjusted EBITDA of $3.4 million, vs. $2.5 million.  "Overall, we see positive momentum in all aspects of our business,” said Peter A. Reed, CEO. “DME is beginning to see signs of business recovery...

Great Elm DME, Home Medical Equipment


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In brief: Final rule, Great Elm, Best Buy Health

March 5, 2021HME News Staff

WASHINGTON – The Council for Quality Respiratory Care has partnered with AAHomecare and the VGM Group to send a one-page letter to CMS urging the agency to publish the DMEPOS final rule as quickly as possible. A proposed rule published in October outlined the agency’s plans to make permanent the 50-50 blended reimbursement rates in rural areas. “In light of the pandemic, it is more important than ever that the Medicare payment system provides stability to suppliers...

aahomecare, Apria Healthcare, Great Elm DME, NEMEP, Viemed


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In brief: Biden and CMS, Dexcom and VC, Great Elm and acquisitions 

February 19, 2021HME News Staff

WASHINGTON – President Biden is expected to name Chiquita Brooks-LaSure as CMS Administrator, according to numerous news reports.  Brooks-LaSure served in the Obama Administration, where she helped guide the Affordable Care Act through passage and implementation. She has also worked as a Democratic staffer for the Ways and Means Committee in the House of Representatives.   Brooks-LaSure is currently a managing director with Manatt Health, where she provides...

Chiquita Brooks-LaSure, dexcom, Great Elm DME, Northshore Care Supply


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In brief: Rotech financing, Kubat merger, Merits president

December 31, 2020HME News Staff

ORLANDO, Fla. – Rotech Healthcare has obtained $425 million in new financing via an amended and reinstated credit agreement with a diverse group of lenders. The provider used part of the proceeds to pay a $100 million dividend to its holding company and will use the remainder to support growth through strategic acquisitions. “This new credit agreement provides Rotech with sufficient capital over the next five years to continue our growth strategies, as well as to provide a $100...

aahomecare, Great Elm DME, Hart Medical Equipment, Kubat Pharmacy, Merits, Rotech


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Providers

Great Elm experiences growth, offset by declines

December 29, 2020Theresa Flaherty, Managing Editor

WALTHAM, Mass. – Great Elm DME gained momentum during its first fiscal quarter 2021, but it hasn’t yet rebounded to pre-COVID levels, company execs said on a recent earnings call. The company reported net revenue of $14.6 million, an increase of 10.4% year-over-year and 5% sequentially. While Great Elm saw “strong” growth in CPAP resupplies, that growth was offset by a decline of 24.7% year over year in new patient setups and only an increase of 2.8% sequentially, said...

Great Elm DME, Home Medical Equipment


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Providers

Great Elm DME sees slower growth

November 2, 2020HME News Staff

WALTHAM, Mass. - Great Elm DME's new patient setups for PAP declined 23% year-over-year in its fiscal fourth quarter, but things are improving, say company officials. Before the COVID-19 pandemic took its toll on in-lab sleep tests, the company experienced 19% growth in new patient setups for PAP and hit a new high for total PAP patients. “(But) sales growth of PAP supplies were strong, with more moderate growth in rental revenues,” said CEO Peter Reed during a recent earnings call. Great...

Coronavirus Outbreak, Great Elm DME, Home Medical Equipment


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Providers

Great Elm seeks 'stabilization in fragmented industry'

May 15, 2020Theresa Flaherty, Managing Editor

WALTHAM, Mass. - Despite the challenges of the current business environment, Great Elm DME is “exploring” opportunities in related markets and with other respiratory-focused DME companies, said CEO Peter Reed on an earnings call last week.“These opportunities may result in relationships that provide stabilization in a fragmented industry,” he said. “In addition, these opportunities could help to further diversify our payer and product mix.”Great Elm DME is part...

Great Elm DME, Home Medical Equipment


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Providers

Great Elm DME reports 'meaningful organic growth'

February 14, 2020Theresa Flaherty, Managing Editor

WALTHAM, Mass. - Great Elm DME has “hit new highs” with PAP and ventilator patient set-ups, CEO Peter Reed said on an earnings call last week.The company generated revenues of $14.4 million for the quarter and $27.6 million for the sixth months ended Dec. 31, 2019. Adjusted EBITDA was $3.5 million.“We've been pleased with the business' rate of organic growth,” said Reed. “We experienced meaningful growth in all major product categories, including new PAP and ventilator...

CPAP, Great Elm DME, Home Medical Equipment


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