Tag: InfuSystem Holdings
InfuSystem sees sixth straight quarter of record revenues
August 9, 2023HME News Staff
ROCHESTER HILLS, Michigan – InfuSystem Holdings reported net revenues of $31.7 million for the second quarter, an increase of 17% compared to the prior year.
Net revenue for Patient Services (formerly Integrated Therapy Services) was $19.3 million, an increase of 12% compared to the prior year, while net revenue for Device Solutions (formerly Durable Medical Equipment Services) was $12.4 million, an increase of 27%.
“I am extremely pleased with the results of the second...
InfuSystem to offer Genadyne’s wound care line
April 27, 2023HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has entered into a national distribution agreement with Genadyne Biotechnologies to offer its negative pressure wound therapy systems and supplies. InfuSystem will offer Genadyne’s complete line of wound care products, including its most advanced XLR8 Plus NPWT Pump, which delivers advanced variable pressure capabilities with a gradual wave, in conjunction with Genadyne’s proprietary XLR8 Dressing Kit with Silver, an antimicrobial contact...
InfuSystem reports top-line growth of 9% in Q4
March 15, 2023HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $28.8 million and $109.9 million, respectively, for the fourth quarter and full year 2022.
For the quarter, gross profit was $16.1 million, and gross margin was 55.8%; for the full year, gross profit was $62.6 million, and gross margin was 56.9%. Adjusted EBITDA for the full year was $20.7 million, a decrease of 14% vs. the prior year.
“We had a highly productive year in 2022 with solid performance...
InfuSystem’s ITS business drives Q3 growth
November 9, 2022HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $27.3 million for the third quarter, an increase of 3% over the same period the prior year. Integrated Therapy Services (ITS) net revenue was $17.4 million, an increase of 5% vs. the prior year. Durable Medical Equipment Services net revenue was $9.9 million, a decrease of 1% vs. the prior year. “The financial performance for the third quarter was solid with record revenue of $27.3 million and strong gross margin of...
InfuSystem partners with Sanara MedTech on new wound care partnership
November 3, 2022HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has partnered with Sanara MedTech to create SI Wound Care, LLC, a partnership to enable InfuSystem to offer products, including Cork Medical’s negative pressure wound therapy devices and supplies and Sanara’s advanced wound care product line to new customers through the jointly controlled entity. “Over the past few years, we have built our NPWT business as a turnkey solution with a focus on offering high quality options to patients...
InfuSystem appoints Malhotra to board
September 28, 2022HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has appointed R. Rimmy Malhotra as a new independent director to its board of directors effective Sept. 20, 2022. Malhotra, founder of The Nicoya Fund LP, a private investment partnership, currently serves as a director and vice chairman of HireQuest Inc., a light staffing franchisor. “I have long admired InfuSystem, and believe the company has the opportunity to significantly expand its business to the benefit of all stakeholders,” said...
In brief: Philips update, vaccine mandate, premium increase
November 19, 2021HME News Staff
WASHINGTON – The U.S. Food and Drug Administration obtained additional information during an inspection of a Philips’ manufacturing facility that was not previously available to the agency that showed the silicone-based foam used in a singular, similar device marketed outside the U.S. failed one safety test for the release of volatile organic compounds.
Similar testing provided by Philips to the FDA on devices authorized for marketing in the U.S. had demonstrated acceptable results.
“The...
InfuSystem cites DME as part of ‘future success’
August 12, 2021HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem reported second quarter net revenues of $24.8 million, a decrease of 4% compared to the same quarter a year ago.
Integrated Therapy Service net revenue was $16.3 million, an increase of 5% vs. prior year; DME Services net revenue was $8.5 million, a decrease of 18%; and Pain Management and Negative Pressure Wound Therapy combined net revenues increased 114%.
“2021 is proving to be a very dynamic year for InfuSystem and the health care...
In brief: Noridian provides guidance, Lifeway Mobility gets PE boost, Medicaid gets new director
July 2, 2021HME News Staff
WASHINGTON – Noridian Healthcare Solutions has posted FAQs for Jurisdictions A and D on the impact of the Philips recall on coverage and billing for Medicare beneficiaries, AAHomecare has reported.
Among the questions in the FAQ:
How should DME suppliers address the situation with Medicare beneficiaries who are in the first 90-days adherence metric in the PAP and RAD Local Coverage Determinations (LCDs)?
Response: During the Public Health Emergency...
InfuSystem implements stock repurchase program
June 30, 2021HME News Staff
ROCHESTER HILLS, Mich. – The board of directors of InfuSystem Holdings has approved a stock repurchase program allowing the company to purchase up to $20 million in stocks through June 30, 2024. “This authorization will replace the prior authorization which expired on Dec. 31, 2020, and will provide us with an additional capital allocation option to enhance shareholder value,” said Richard Dilorio, CEO. “Additionally, the stock repurchase program emphasizes the confidence...