Providers

PLYMOUTH MEETING, Pa. – Luke McGee has resigned from his positions as co-CEO and director of the board of AdaptHealth, and Stephen Griggs has been named CEO effective immediately.  Griggs, who is also a member of the board, joined AdaptHealth in February as co-CEO following the company’s acquisition of AeroCare Holdings, which he founded and led as president and CEO.  “Steve’s extensive management experience, along with health sector expertise and a proven...

LOUISVILLE, Ky. – Humana has signed a definitive agreement to acquire onehome, a provider of a variety of home-based services, from WayPoint Capital Partners.  onehome has been operating a value-based model in Florida and Texas, and has served Humana members since 2015.  “At Humana, we are implementing a strategy to build a new value-based home health model that will improve patient outcomes, increase satisfaction for patients and providers, and provide greater value for...

SANDWICH, Mass. – Just a year after forming through the merger of America's HealthCare at Home, Cape Medical Supply and Health Complex Medical, Spiro Health was acquired by AdaptHealth – and no one was more surprised than CEO Gary Sheehan.  “That was never part of the plan, but life happens,” he said. “We watched the merger of Adapt and AeroCare and have a ton of respect for both senior management teams. So, we took the call to discuss what it might look...

DALLAS – Hospice Source has acquired Respiratory Therapy Home Care of Bellflower, Calif., further expanding its presence in the state.   "Hospice Source is committed to providing exceptional patient care to all its hospice partners,” said Jeff West, CEO. “The acquisition of RTHC allows us to extend that passion for service to a greater number of Southern California hospice patients and hospice partners.”  Founded in 1997, Hospice Source offers full-service...

CINCINNATI – With a toehold in Florida and $27 million in cash on hand, Quipt Home Medical is serious about growth, company execs said on a recent earnings call.  “We are looking for turnkey respiratory companies that can be seamlessly integrated,” said Hardik Mehta, CFO. “We have a number of targets in sight – 15-plus with a cumulative value in the broad range of $75 million to $150 million.”  A top priority: Leveraging the acquisition of Jacksonville,...

CINCINNATI – Quipt Home Medical reported revenue of $24.2 million for its second quarter of fiscal year 2021, a 36% increase compared to the same period in 2020. Adjusted EBITDA was $5.4 million vs. $4.2 million. “As evidenced by our results, home health continues to experience structural tailwinds, which we expect to provide our business extraordinary opportunity for years to come,” said CEO and Chairman Greg Crawford. “With our rebranding process behind us, we are...

MIRAMAR, Fla. – The latest Medicare Advantage company to be drawn to onehome’s model of both managing benefits and providing care to patients: Devoted Health. onehome partnered with Devoted Health in April to expand care to that plan’s members in Arizona, Ohio and San Antonio, Texas. “Managed care plans are our target audience and we understand what they are about,” said CEO Ramon Falero. “As far as the future, based on language from CMS about bundled...

CLEVELAND – In a rapidly consolidating HME industry, the family-owned Medical Service Company says its commitment to people makes it an attractive partner for owners looking to sell their businesses, says Josh Marx. The 71-year-old company announced in May that it bought Wisconsin-based Metz Medical. “You obviously have public companies, private-equity backed firms and completely private companies (buying),” said Marx, vice president of business development, managing director...

INDIANAPOLIS – Apria is readying itself for a post-COVID world by embracing flexible working arrangements and leveraging telehealth to meet patients where they are, says CEO Dan Starck. While most of its patient-facing staff and operations remained working onsite throughout the pandemic and others who had transitioned to the home are slowly moving back to the office, the company is committed to a hybrid model going forward, he says. “The pandemic challenged all of us to rapidly...

INDIANAPOLIS – Apria reported net revenue of $275.3 million for the first quarter of 2021, a 2% increase compared to the same period last year.  It reported a net income of $4.5 million, a 29% decrease.  “We delivered strong first quarter 2021 results ahead of our expectations on all three of our key metrics and we built on momentum from 2020 establishing a solid foundation for future growth,” said Dan Starck, CEO. “The country experienced a significant surge...