Tag: Quipt Home Medical

CINCINNATI – Quipt Home Medical has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of about $9 million and adjusted EDITDA of $2 million post-integration.  The company says the acquisition adds scale with 10 locations, 17,500 active patients, 1,900 unique referring physicians and important insurance contracts.  “The completion of this transaction demonstrates our ongoing patience and discipline as it relates...

CINCINNATI – Quipt Home Medical has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of about $ 9 million and adjusted EDITDA of $2 million post-integration.  The company says the acquisition adds scale with 10 locations, 17,500 active patients, 1,900 unique referring physicians and important insurance contracts.  “The completion of this transaction demonstrates our ongoing patience and discipline as it relates...

CINCINNATI – Quipt Home Medical surpassed its own expectations for organic growth in the third quarter of fiscal year 2023 – a record 4%, ahead of the 2% it expected, said CEO Greg Crawford.  The company anticipates organic growth to continue through the rest of the year, exceeding the 8% to 10% average it has seen annually.  “We have been concentrating our efforts on areas with the high prevalence of COPD and penetrating our key sales touch points into continual...

AMSTERDAM – Royal Philips has announced that Exor, a diversified holding company based in the Netherlands, has bought a 15% shareholding in the company.  As a result, Exor, which has a net asset value of about EUR 33 billion, will nominate one member to the company's Supervisory Board.  “Exor’s investment in Philips, their long-term outlook and increased focus on healthcare and technology, fit well with our strategy and substantial value creation potential,”...

CINCINNATI – Quipt Home Medical reported revenues were $60.3 million for the third quarter of fiscal year 2023, a 64% increase year over year and a 4% increase sequentially.  Adjusted EBITDA was $13.9 million (23% of revenues) vs. $7.7 million (21% of revenues), representing an 80% increase year over year.  “Throughout the year, our business has continued to strengthen, and we are experiencing the organic growth and margin expansion that we had been aiming for,”...

CINCINNATI — Quipt Home Medical has received final approval to list its common shares on the Toronto Stock Exchange (TSX) and commenced trading at market open on June 21, 2023, under the symbol “QIPT.” Concurrent with the commencement of trading on the TSX, the common shares will be delisted and will cease trading on the TSX Venture Exchange. “We are incredibly proud to announce the commencement of trading on the Toronto Stock Exchange,” said Greg Crawford, chairman...

DUBLIN, Ohio, and SAN FRANCISCO – Cardinal Health has partnered with Square to launch modern payment solutions for independent pharmacies and give them access to products that can help them better manage their business.  The partnership allows Cardinal Health to offer its independent pharmacy customers access to innovative products that can seamlessly manage business operations, integrate flexible payment options for in-store, online and delivery purchases, and reduce payment processing...

CINCINNATI - Quipt Home Medical has terminated its “at-the-market” (ATM) equity program, which it first announced in May. The company has not made use of this ATM and has elected to terminate it as a result of market conditions and to limit ‎uncertainty and unfavorable dilution for its shareholders during this period of global ‎market uncertainty.‎ “Given our robust balance sheet with modest leverage, strong operating cash flow generation and track record of careful...

CINCINNATI – Quipt Home Medical is on a preliminary list to join the Russell 2000 and 3000 indexes at the conclusion of the annual reconstitution, effective after the U.S. market opens on June 26, 2023. “Being included in the Russell 2000 and 3000 Indexes would be an affirmation of our strategic journey and a testament to the relentless efforts of our team,” said Greg Crawford, CEO and chairman of Quipt. “We remain committed to delivering sustained value to our shareholders...

CINCINNATI – A new equity program provides Quipt Home Medical with another tool to make additional acquisitions, but that doesn’t mean the company has any imminent deals pending, say execs.  Quipt announced May 16 that it had filed a prospectus supplement establishing a new At-the-Market (ATM) equity program, with Canaccord Genuity and Beacon Securities Limited acting as agents. The ATM will allow the company to offer for sale and issue up to $40 million common shares from time...