Tag: Viemed Healthcare
Viemed gets controlling interest in Alabama HME
April 2, 2024HME News Staff
LAFAYETTE, La. – Viemed Healthcare has finalized its strategic partnership with East Alabama Health, providing the company with a controlling interest in East Alabama HomeMed.
East Alabama HomeMed provides HME services to patients within the EAH network, which encompasses East Alabama Medical Center in Opelika, Ala., and EAMC-Lanier Hospital in Valley, Ala., with a combined medical staff of 380 physicians, as well as those in the surrounding areas of Eastern Alabama.
"We...
Viemed fortifies sales force
March 8, 2024Theresa Flaherty, Managing Editor
LAFAYETTE, La. – Viemed kicked off 2024 with a restructured sales force to boost ongoing organic growth, company execs said on a recent call to review fourth quarter and full-year 2023 financial results.
The company recently transitioned to a training and management infrastructure that takes a more localized approach, creating multiple territory sales manager and national sales directorship promotions, said Casey Hoyt, CEO.
“This expansion and fortification of our team...
Viemed zeroes in on organic growth
November 3, 2023Theresa Flaherty, Managing Editor
LAFAYETTE, La. – Organic growth is the “highest priority” for Viemed Healthcare, said company execs on a recent call to discuss financial results for the third quarter.
For the quarter, the company saw 11% sequential growth in its sleep business, which now comprises 17% of Viemed’s product mix, driven by the “springboard” acquisition of HMP in June.
“We’ve consistently demonstrated that we are in a position to grow independently, leveraging...
Viemed drives ‘strong results’ in Q3
November 2, 2023HME News Staff
LAFAYETTE, La. – Viemed Healthcare reported net revenues of $13.6 million for the third quarter of 2023, an increase of 38% over the same quarter in 2022.
Net income for the quarter was $2.9 million, a 177% increase. Adjusted EBITDA was $12.1 million, a 73% increase.
“Viemed is executing flawlessly on our strategic objectives, driving strong financial results and remarkable growth,” said Casey Hoyt, CEO. “Our seamless integration of the HMP acquisition has...
Viemed completes HMP acquisition
June 7, 2023HME News Staff
LAFAYETTE, La. - Viemed Healthcare has successfully completed its previously announced acquisition of Tennessee based Home Medical Products, a large regional provider of respiratory focused home medical solutions. “I’m incredibly proud to welcome the HMP team to the Viemed family,” said Casey Hoyt, CEO of Viemed. “Both organizations share a culture that focuses on high quality patient interaction in the home driven by clinical excellence and supported by technology. Today,...
In brief: Viemed acquisition, Philips recall, Quipt public offering
April 21, 2023HME News Staff
LAFAYETTE, La., - Viemed Healthcare will acquire Tennessee based Home Medical Products, a large regional provider of respiratory focused home medical solutions.
“We are incredibly excited to complement our strong history of organic growth by combining great teams through accretive transactions” said Casey Hoyt, Viemed CEO. “The purchase of HMP will launch our acquisition growth initiatives with a stellar organization that has an extraordinary reputation with patients, payors...
Viemed to acquire HMP
April 18, 2023HME News Staff
LAFAYETTE, La., - Viemed Healthcare, Inc. will acquire Tennessee-based Home Medical Products, Inc., a large regional provider of respiratory focused home medical solutions.
“We are incredibly excited to complement our strong history of organic growth by combining great teams through accretive transactions” said Casey Hoyt, Viemed CEO. “The purchase of HMP will launch our acquisition growth initiatives with a stellar organization that has an extraordinary reputation with...
Viemed 'reaping the benefit’ of diverse model
March 10, 2023Theresa Flaherty, Managing Editor
LAFAYETTE, La. – Viemed Healthcare’s various lines of business are “clicking on all cylinders,” as the company seeks to ramp up organic growth, say execs.
To do that, Viemed is further diversifying its product offerings and reducing its reliance on ventilators. In the fourth quarter of 2022, vents comprised approximately 66% of the company’s core revenue vs. 76% in the fourth quarter of 2021.
“Staffing is rolling, CPAPs are rolling, oxygen's...
In brief: CGM coverage, Viemed earnings, BetterNight funding
March 3, 2023HME News Staff
WASHINGTON – The DME MACs have released the updated LCD and policy article for continuous glucose monitors (CGMs), finalizing expanded coverage.
To be eligible for coverage of a CGM and related supplies, the beneficiary must meet all of the following initial coverage criteria (1)-(5):
The beneficiary has diabetes mellitus (Refer to the ICD-10 code list in the LCD-related Policy Article for applicable diagnoses); and,
The beneficiary’s treating...
Viemed in 'strong position'
March 3, 2023HME News Staff
LAFAYETTE, La. – Viemed Healthcare reported net revenue of $37.5 million for the fourth quarter, a 30% increase over the same quarter in 2021, and $138.8 million for full year 2022.
Net income for the quarter and year totaled $2.4 million and $6.2 million, respectively. Adjusted EBITDA totaled approximately $9.3 million and $30 million, respectively.
“Our favorable resolution of the OIG matter, debt free balance sheet and access to $90 million of additional liquidity...