Tag: Prism Medical

MELVILLE, N.Y. – Henry Schein Inc., a provider of health care solutions to medical and dental offices, has acquired a majority ownership position in Prism Medical Products, a national provider of home medical supplies with a focus in advanced wound care.   Founded in 2006, the Elkin, N.C.-based Prism Medical has more than 200 employees and 10 fulfillment centers. For the 12 months ended Sept. 30, 2020, it reported revenues of approximately $52 million.  “Expanding...

WASHINGTON - Two consumer organizations have sent letters to lawmakers urging them to pass bills that would permanently protect complex rehab accessories from competitive bid pricing. The Consortium for Citizens with Disabilities (CCD), a coalition of approximately 100 national disability organizations, and the Independence Through Enhancement of Medicare and Medicaid Coalition (ITEM) sent letters to 10 senators and representatives, including Speaker of the House Paul Ryan, R-Wis., and Senate...

TORONTO - Prism Medical announced revenues of $14.7 million for the first quarter ended Feb. 29, 2016, an increase of 20% compared to the same period last year. Adjusted EBITDA was $1.5 million. The company says government funding for its products in Canada is a key driver of sales. Prism also believes that the U.S. market holds the greatest long-term potential for revenue growth in both the home care and institutional markets.

TORONTO - Prism Medical has agreed to acquire certain assets of the lift and elevating business of Shoppers Home Health Care in the provinces of Ontario, Saskatchewan and Alberta. Prism will pay about $2.1 million for inventory and equipment, with a deferred payment respecting good will, according to a press release. The two companies have also agreed to enter into a sales agreement whereby Shoppers will be a non-exclusive sales agent for Prism of specified lift and elevating products and services...

TORONTO - Prism Medical on July 28 reported sales of $14.1 million for the three months ended May 31, 2015, compared to $10.3 million for the same period last year. Net income was $430,000 vs. $21.3 million. The Canadian DME manufacturer and provider reported net sales of $26.3 million for the six months ended May 31, 2015, compared to $20.3 million for the same period last year. Net income was $832,000 vs. $22.1 million. The company intends to increase shareholder value through organic growth and...

TORONTO - Prism Medical reported revenues of $12.2 million for the first quarter of 2015, an increase of 23% compared to the same quarter the previous year. First quarter net income from continuing operations was $402,000 or $0.08 per common share vs. $179,000 or $0.02 per common share. Adjusted EBITDA was $1.4 million.

TORONTO - Prism Medical has sold all shares of its UK division for C$54.9 million, the company recently announced. “As a result of the sale of the UK operations, we expect to considerably reduce our administrative expenses and focus our human and financial capital on the growing North American market for our products and services,” said Andy McIntyre, executive chairman and CEO. Prism's North American operations generated revenues of more than C$35.3 million in fiscal 2013, he said. The...

TORONTO, Ontario - Prism Medical has bought an additional 51% ownership interest in MedCare Products, making the company a wholly-owned subsidiary, according to a Feb. 10 release. At the end of 2012, Prism purchased a 49% stake in MedCare, as well as the Burnsville, Minn.-based company's manufacturing assets and inventory. MedCare supplies ceiling and floor lifts, slings and transfer aids. "The acquisition of 100% of MedCare is an important transaction for us as it meets a number of key strategic...

NEW YORK - The Government Accountability Office (GAO) has denied Rotech's protest that the Department of Veterans Affairs (VA) unreasonably ignored recent, relevant information when it decided Rotech wasn't financially fit to win contracts to supply veterans with home oxygen equipment, Law360 reports. The VA contended that Rotech, which entered Chapter 11 bankruptcy protection in April, didn't qualify as a “responsible contractor,” according to the story. The VA's contracting...

TORONTO - Prism Medical's board of directors approved a dividend of $0.08 per common share, payable on March 3 to shareholders of record on Feb. 21, the company announced Jan. 28. Prism Medical provides durable medical equipment, with a focus on mobility equipment, in the U.S., Canada and the U.K.