Providers

YARMOUTH, Maine – Analysts expect the final months of 2021 to bring a flurry of deal-making as sellers try to get ahead of a possible increase in the capital gains tax in 2022.  When President Biden released his proposed 2022 fiscal year budget earlier this year, it called for an increase to 39.6%, although the rates look more likely to settle around 25% or so, say analysts.  “That has pulled some activity into 2021 for folks on the fence, so I think the fourth quarter...

ATLANTA – With 70% of patient outreach calls going to “voice mail hell,” Medical Service Company knew it needed to revamp its PAP adherence program to boost patient engagement and compliance, and create better efficiencies.  So, the company set out to create an automated, scalable program using not only voice calls but also texts and emails, based on preference, to assess patients and evaluate factors that affect outcomes.  “So much of our process was to ask...

CINCINNATI – Quit Home Medical has executed a non-binding letter of intent to acquire an “arm’s length” private respiratory care company servicing seven states throughout the U.S. reporting unaudited trailing 12-month annual revenues of about $14 million, $1 million in net income and positive adjusted EBITDA.  The acquisition adds a new vertical in long-term care settings, four new states and 165 remote respiratory therapists.  “We continue to strategically...

CINCINNATI — Quipt Home Medical has acquired a privately held biomedical services company with operations in the Southeastern United States reporting unaudited trailing 12-month annual revenues of approximately $1.5 million and net income of $225,000.  Quipt acquired the biomedical services operation for approximately $700,000 in cash, expanding its services to include biomedical repair services for respiratory equipment, including preventative maintenance.   “We are delighted...

CINCINNATI – Quipt Home Medical has executed a non-binding letter of intent to acquire “an arm’s length” private respiratory company in the Midwestern United States with 15,000 active patients.  The company reported unaudited trailing 12-month annual revenues of about $13 million, $1.6 million in net income and positive adjusted EBITDA.  “This acquisition target is very powerful as it services a significant metro hub in the Midwest and after closing,...

WALTHAM, Mass. – Strong resupply sales helped Great Elm DME grow its revenue to $15.6 million in its first quarter fiscal 2022, a 6.5% increase compared to the same period the previous year.  Net income was $2.1 million vs. a net loss of $0.5 million, and adjusted EBITDA was $5.1 million vs. $2.8 million.  “We reported an excellent period in DME despite the challenges of a relatively slow return to normal operations following the pandemic conditions over the past year,”...

CINCINNATI – Quipt Home Medical recently acquired a business with operations in Illinois with unaudited trailing 12-month annual revenue of about $2.5 million.  Post-acquisition, Quipt expects an adjusted EBITDA for the acquisition of about $600,000.  “Since July, we have now completed six acquisitions with combined revenues of over $16 million,” said Greg Crawford, chairman and CEO. “Combining these newly acquired entities provides us a pathway to scale into...

PLYMOUTH MEETING, Pa. – AdaptHealth is using its size to its advantage to navigate headwinds from supply chain constraints and a Philips recall of certain CPAP devices, company leaders say.  Supply chain constraints, including port backlogs affecting products shipped from Asia, are impacting certain DME and related product categories that represent about 15% of total revenues, says President Josh Parnes.  “Despite these delays, we benefited from our national scale and...

INDIANAPOLIS – As Apria looks to the end of the year, the availability of CPAP devices is a “wild card,” says CEO Dan Starck.  “We saw a sustained increase in incoming volume through Q3 and continue to see it in October and November,” he said on a call to discuss the company’s most recent financial results. “If we could get our hands on more equipment, we’d have much more growth in the quarter from a sleep standpoint.”  Apria’s...

INDIANAPOLIS – Apria Healthcare reported net revenue of $287.2 million for the third quarter of 2021, up 3.8% compared to $276.8 million one year ago. For the quarter, net income was $22.8 million, up 300.1% from $5.7 million; adjusted EBITDA was $61 million and adjusted EBITDA less patient equipment capex of $38.9 million. “We continue to see strong new patient volume for oxygen driven by the Delta variant which we expect to remain at elevated levels compared to historical run...