Providers

FORTH WORTH, Texas – Vertess closed three transactions in the first quarter of 2022, including the sale of California-based Brannons Medical to AdaptHealth.  “Brannons was a staple in the San Jose community for 20-plus years,” said Robert Villalobos, managing director and deal lead for Vertess. “With the continued appetite for respiratory providers, it comes as no surprise the family run business was a desirable acquisition.”  Vertess also represented...

CINCINNATI – Quipt Home Medical reported revenue of $33.6 million for the second quarter of fiscal year 2022, a 38% increase over the same period last year.  It reported net income of $5 million vs. a net loss of $12.5 million.  “We are extremely proud of the robust results we experienced in our fiscal second quarter, which showed accelerating momentum across our heavily weighted respiratory product mix as the quarter progressed,” said CEO and Chairman Greg Crawford....

PLYMOUTH MEETING, Pa. – Acquisitions will continue to be a big part of AdaptHealth’s strategy, but how much will depend on how the market for CPAP devices unfolds throughout 2022, company execs said on a recent earnings call.  “Depending on supply and the availability of product in the back half of the year, we could dial up or dial down our ability to do integrations and acquisitions,” said Josh Parnes, president.   In 2021, AdaptHealth closed on 23 acquisitions,...

NELIGH, Neb. – Kubat Healthcare has acquired Hilltop Drugs Etc., in Neligh, Neb., further expanding its commitment to local care.  Founded in October 2008 by co-founder and current Pharmacist-In-Charge Jami Schmidt, Hilltop Drugs is a community pharmacy providing personalized pharmacy and health care services. In 2019, Schmidt and her business partner sold to Mark Vogt.  "When I started Hilltop Drugs in 2008, I wanted to provide the community with exceptional pharmacy solutions,"...

PLYMOUTH MEETING, Pa. – AdaptHealth delivered “solid” net revenue of $706.2 million for the first quarter of 2022, an increase of 46.5% over the same period the previous year.  Organic growth for the quarter was 3.7% and non-acquired growth was 3.7%  “We are very pleased with our strong start to the year,” said Steve Griggs, CEO. “During the quarter, we have seen continued strength in our diabetes product line, consistent with our expectations,...

RICHMOND, Va. – The fast growth of Owens & Minor’s patient direct platform, which posted 25% revenue growth during the first quarter of 2022, is an indicator of the company’s strength in the home health market, company officials said during a recent earnings call.  And officials expect to see that double-digit growth rate continue for the platform, which is comprised of Byram Healthcare and the newly acquired Apria Healthcare.  “It's a $50 billion market...

RICHMOND, Va. – Owens & Minor reported net revenues of nearly $273 million for its patient direct segment for the first quarter of 2022, a 25.7% increase compared to the same period last year, boosted by its acquisition of Apria Healthcare, which it finalized March 29.  Excluding Apria, revenue for the patient direct segment increased 20.7%, marking Byram's strongest quarter of growth in the past two years.  "The first quarter of 2022 marked an important milestone –...

FORT WORTH, Texas - Now is the time for HME providers to start looking at artificial intelligence (AI) and machine learning to improve quality of care without increasing costs, says Anna Elliot, a new managing director and partner at Vertess.  Here’s what Elliot, who specializes in high-growth, health care technologies, had to say about how medtech can be used and why you need it.  HME News: How much is machine learning and AI driving the growth in health care right now?  Anna...

BELLEVUE, Wash. – Bellevue Healthcare has opened its 21st location – its largest yet – in Liberty Lake, Wash.  The new location, which will serve as a second headquarters, has 30,700 square feet of office, warehouse and retail space to serve eastern Washington and Idaho.  “The Liberty Lake location is changing the game for how we are able to provide a cohesive approach to not only complex rehab, but respiratory, hospice and other DME services,” said Bob...

BROOKLYN, N.Y. – With an uptick in online orders and the backing of a large parent company, the time was right for Medical Supply Depot to revamp and relaunch its e-commerce website, says Meir Tsinman, vice president, e-commerce.  “We’re seeing a lot more elderly patients ordering online so we wanted something that was clear and easy to understand,” he said. “It’s more tablet and mobile friendly, and easier to navigate.”  The new website currently...