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Tag: Protech


News

In brief: Bid amounts for braces, changes for CGMs and external pumps, provider reactions

October 30, 2020HME News Staff

WASHINGTON – CMS on Oct. 27 announced Round 2021 single payment amounts for off-the-shelf back braces and knee braces.   The agency has made contract offers for back and knee braces in 127 CBAs, a move that it expects to save $600 million for the Medicare program and beneficiaries over the three-year contract period.  CMS is not making offers for back and knee braces in certain CBAs where savings would not be achieved. Payment in those areas will be based on adjusted fee schedule...

180 Medical, braces, FODAC, Protech, Round 2021, Viemed


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News

Providers commend CMS on changes to Round 2021

October 30, 2020HME News Staff

WASHINGTON - CMS's decision not to push forward with the majority of Round 2021 of the competitive bidding program has been met with support from numerous providers. CMS on Oct. 27 announced new payment amounts for off-the-shelf back and knee braces but not for 13 other product categories, including CPAP and oxygen therapy, because there were no expected savings. In light of the ongoing public health emergency, it's the right thing to do, says Casey Hoyt, CEO of Viemed Healthcare. “While the...

CQRC, Protech, Round 2021, Viemed Healthcare


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Specialty Providers

Protech sleeps well with latest acquisition

October 27, 2020HME News Staff

CINCINNATI - Protech Home Medical has acquired Sleepwell, a company based in Georgia with unaudited trailing 12-month annual revenues of about $13 million. Sleepwell has adjusted EBITDA of about $3.25 million, net income of about $2.5 million and no debt. The company provides sleep services in the Southeastern corridor, as well as Dayton, Ohio, which is a new market for Protech. It adds five locations and 15,000 active patients to Protech's roster. Dave McLeod, a 12-year veteran...

CPAP, M&A, Protech, Sleep Apnea, Sleepwell


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Providers

Protech reports double-digit increases in its customer base

August 19, 2020HME News Staff

CINCINNATI - Protech Home Medical reported revenue of $25.9 million for the third quarter of 2020, a 28% increase compared to the same period last year and a 7% increase from the previous quarter.Adjusted EBITDA was $5.5 million vs. $3.8 million, a 47% increase year over year.The company's operational highlights for the quarter included:Its customer base hit 37,128 in the third quarter, a 19% increase year over year.Respiratory resupply setups and/or deliveries hit 14,436, a 31% increase.Equipment...

Financial Results, Protech, respiratory


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Providers

Protech works to build NIV business

August 12, 2020HME News Staff

CINCINNATI - Protech Home Medical has executed a non-binding letter of intent to acquire a private respiratory company in the Midwest reporting unaudited trailing annual revenues of about $5 million, positive adjusted EBITDA and positive net income. The acquisition would expand Protech's presence in the Midwest, including adding a large new market, and increase the company's active patient count by more than 3,000. “The acquisition would be immediately accretive to Protech's EBITDA and overall...

M&A, non-invasive vents, Protech


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Also Noted

Protech checks in with shareholders

July 21, 2020HME News Staff

CINCINNATI - Protech Home Medical expects to report revenues of $25.6 million to $25.9 million for the third quarter ended June 30. The company expects to report an adjusted EBTIDA of $5.3 million to $5.5 million, and gross margins similar to the three months ended March 31. “Given the ongoing COVID-19 pandemic, we felt it extremely important to continue to keep our shareholders apprised with our financial performance in real time,” said Greg Crawford, CEO and chairman. “We look...

Financial Results, Protech


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News

In brief: Solara Medical Supplies acquires Active Healthcare, ResMed launches digital tool for selecting masks

May 22, 2020HME News Staff

CHULA VISTA, Calif. - Solara Medical Supplies has acquired the diabetes division of Active Healthcare.The Raleigh, N.C.-based Active Healthcare, a provider of CGMs, insulin pumps and supplies, was founded in 1990 by Steven and Lisa Feierstein.“We are proud of what we have built at Active Healthcare and our diabetes team is excited to grow further with the capabilities that Solara provides,” said Lisa Feierstein.The deal is Solara's fourth acquisition following its investment by Linden...

Active Healthcare, AdaptHealth, NSM, Option Care, Protech, ResMed, Solara Medical Supplies


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