Tag: InfuSystem Holdings
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...
InfuSystem enters lymphedema market
June 29, 2021HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has entered into a joint agreement with Bio Compression Systems to add lymphedema therapy to its Integrated Therapy Service (ITS) platform. As part of the new relationship, InfuSystem’s solutions will include providing pneumatic compression devices with calibrated and non-calibrated gradient pressure, garments and certified technicians for proper fitting of the compression system. InfuSystem was recently designated as a Community Health Accreditation...
In brief: AAHomecare campaign, PHE extension, telehealth review
April 23, 2021HME News Staff
WASHINGTON – AAHomecare has tapped public relations firm Keybridge Communications for a media campaign to build awareness of the value of HME.
“Stepping up our strategic communications capacity is essential to our continued efforts to bring home more policy wins for HME suppliers and manufacturers,” said Tom Ryan, president and CEO. “Keybridge Communications brings a strong level of experience in developing effective messages and...
InfuSystem enhances capabilities
April 22, 2021HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem, a provider of infusion pump therapy and other health care services, has acquired the operating assets of OB Healthcare Corporation, a privately held, Texas-based, biomedical services company.
The acquisition complements InfuSystem’s acquisition in February of FilAMed, a biomedical services company based in Bakersfield, Calif.
“This acquisition closely follows our purchase of FilAMed, which provides remote repair...