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Tag: Quipt Home Medical


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Quipt closes on financing

September 19, 2022HME News Staff

CINCINNATI – Quipt Home Medical Corp. has announced the closing of $110,000,000 in senior secured credit facilities with CIT Bank, N.A., a division of First-Citizens Bank & Trust Company. The senior secured credit facilities are in the aggregate amount of $110,000,000 (comprised of a term loan facility in an aggregate principal amount of $5,000,000, a delayed draw term loan facility in an aggregate principal amount of $85,000,000 and a revolving credit facility in an aggregate principal amount...

Quipt Home Medical


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Quipt eyes national status

August 26, 2022Theresa Flaherty, Managing Editor

CINCINNATI – While Quipt Home Medical has been laser-focused on respiratory for the past several years, a recent contract with Cardinal Health at-Home will give the company a competitive foothold in the supplies market on a national scale, says CEO Greg Crawford.  “We get a lot of inquiries for other supplies, whether they be incontinence, urologicals or ADLs – anything that a respiratory or other patient would need – and we do sell those at our (brick-and-mortar)...

Cardinal Health at-Home, Home Medical Equipment, Quipt Home Medical


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Quipt's Greg Crawford weighs in on challenges

August 26, 2022Theresa Flaherty, Managing Editor

Quipt Home Medical hasn’t been spared from industry specific issues like the CPAP recall and macro issues like supply chain constraints, says CEO Greg Crawford.  “Our management team has done an excellent job navigating (these issues) over the last year” he said.  CPAP recall  Quipt has been on supply allocation with ResMed for the past 15 months and has not been able to meet demand, but the company has prioritized patients based on their clinical needs and...

Home Medical Equipment, Quipt Home Medical


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Hardik Mehta

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Quipt: Sleep woes ‘hold back’ organic growth

August 19, 2022Theresa Flaherty, Managing Editor

CINCINNATI – Key to driving organic growth at Quipt Home Medical is how quickly the company is able to recover on sleep, say execs.  The company posted a quarter-over-quarter organic growth rate of 2% for the third quarter of 2022.  “(Sleep) is really the one thing that is holding us a little bit back right now,” said Hardik Mehta, CFO, on a recent call to discuss the company’s earnings. “To the extent that we are able to get good loan allocation on the...

CPAP, Home Medical Equipment, Quipt Home Medical


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Quipt reports ‘robust’ growth

August 16, 2022HME News Staff

CINCINNATI – Quipt Home Medical reported revenues of $36.7 million for the third quarter of 2022, an increase of 40%, year over year.  Revenue for the nine months ended June 30, 2022, increased to $99.8 million, or 36.2% compared to the nine months ended June 30, 2021. Recurring revenue as of Q3 2022 was 77% of total revenue. Adjusted EBITDA was $7.7 million.  “The robust financial and operating results in the fiscal third quarter are reflective of the continued operational...

Home Medical Equipment, Quipt Home Medical


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Quipt secures $80M in financing

August 15, 2022HME News Staff

CINCINNATI – Quipt Home Medical has received a binding commitment letter from CIT Bank, N.A., a division of First-Citizens Bank & Trust Company, to provide 100% of senior secured credit facilities in the aggregate amount of up to $80 million, comprised of a term loan facility of up to $5 million, a delayed draw term loan facility of up to $55 million and a revolving credit facility in an aggregate principal amount of up to $20 million. “The commitment letter from CIT for up to $80 million...

Home Medical Equipment, Quipt Home Medical


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Quipt Home Medical converts debt 

August 11, 2022HME News Staff

CINCINNATI – Quit Home Medical has exercised its right under the debenture indenture dated March 7, 2019, which governs all of the company’s 8% unsecured convertible debentures issued on that date, to convert all of the principle amount outstanding of the remaining debentures on Sept. 8, 2022, into common shares of the company. “The conversion of this debenture is an exciting milestone for the company, as we continue to execute on our aggressive growth strategy,” said Greg...

Debt, Quipt Home Medical


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In brief: Hanger acquired, 3M’s health care division spun off, Quipt contract secured

July 29, 2022HME News Staff

AUSTIN, Texas – Hanger, a national provider of O&P, has entered into an agreement to be acquired by Patient Square Capital, a dedicated health care investment firm, for approximately $1.25 billion.  Under the terms of the agreement, Hanger stockholders will receive $18.75 in cash per share, representing an approximate 29% premium to the 30-calendar day volume-weighted average price (VWAP) ending July 20, 2022. Upon completion of the transaction, Hanger will become a privately held company...

3M, Hanger, M&A, O&P, Orthotics, Prosthetics, Quipt Home Medical


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Quipt partners with Cardinal to provide supplies 

July 26, 2022HME News Staff

CINCINNATI – Quipt Home Medical has executed a contract with Dublin, Ohio-based Cardinal Health at-Home.  Per the contract, Quipt has agreed to sell and Cardinal has agreed to supply and distribute disposable medical supplies nationwide.  “Cardinal will service our entire operating footprint, consisting of 94 locations across the country, aimed at increasing distribution channels while decreasing costs,” said Greg Crawford, chairman and CEO of Quipt. “Furthermore,...

Cardinal Health™ at-Home, Disposable Medical Supplies, Quipt Home Medical


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Quipt doubles presence in Mississippi

July 11, 2022HME News Staff

CINCINNATI – Quipt Home Medical has acquired Hometown Medical, a respiratory focused company in Mississippi reporting unaudited trailing 12-month annual revenues of about $7 million and anticipated EBITDA of $1.4 million post-integration.  Hometown Medical, which has two locations in Mississippi, doubles Quipt’s presence in the state. It adds more than 1,000 referring physicians, bringing its total to more than 21,600; and 11,000 active patients, bringing its total to more than...

Hometown Medical, M&A, Quipt Home Medical


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