Tag: Steve Griggs
AdaptHealth sits ‘above high water’ in 2021
March 5, 2021Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth posted a record-breaking year in 2020 and its acquisition of AeroCare in February sets up the company for accelerated growth in 2021, execs said on a recent earnings call.
AdaptHealth reported net revenue of $348.4 million for the fourth quarter of 2020, a 133% increase compared to the same period in 2019, and $1.06 billion for the full year, a 99% increase compared to 2019.
“Our patient’s home health needs have only grown throughout...
AeroCare’s Griggs on next steps: Integration, improvement
December 11, 2020Theresa Flaherty, Managing Editor
ORLANDO, Fla. - Steve Griggs has been in the HME industry since 1988, first serving as president of Rotech, then launching AeroCare in 2000. Two decades on, he has grown that business to 300 locations and has sold it to AdaptHealth for about $2 billion.
Griggs credits the company’s employees and its willingness to embrace technology for his success.
“Any company that has...
In difficult market, deals need to be more secure
October 24, 2017Theresa Flaherty, Managing Editor
ATLANTA - When it comes to acquiring an HME company, buyers need to kick the tires so to speak, said M&A analyst Brad Smith at Medtrade on Monday. “It's like a used car,” said Smith, managing director at Vertess during the session, “Deal or No Deal: Buying and Selling a DME Supplier.” “Are you going to want to spend time shining it up? Any buyer wants a return on investment.”With margins thinner than ever, and a number of providers looking to exit the increasingly...
Deal watch: AeroCare, Rotech
January 21, 2015HME News Staff
ORLANDO, Fla. - AeroCare has acquired Plant City, Fla.-based Matrix Medical, a provider of home medical equipment, supplies and respiratory equipment with nine locations throughout Florida.Terms of the deal were not disclosed."We're looking forward to working with them to pursue opportunities and to care for our patients," AeroCare founder and CEO Steve Griggs said in a local news article.In late December, a planned merger between AeroCare and MergeWorthRx fell through.Rotech strikes againORLANDO,...
AeroCare exec talks future of company, industry
November 7, 2014Theresa Flaherty, Managing Editor
With more than 25 years under his belt in the HME industry, provider Steve Griggs has seen a lot of changes, but he has stuck with it. In 2002, he founded Orlando-based AeroCare after a stint with Rotech. Today, the company stands poised for growth, thanks to a planned merger with MergeWorthRx. Griggs spoke with HME News recently about the future of AeroCare—and the HME industry.HME News: How are you looking to grow AeroCare? Both organically and through acquisitions?Steve Griggs: The merger...