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Providers

Owens & Minor’s Patient Direct posts 8% increase

February 20, 2024HME News Staff

RICHMOND, Va. – Owens & Minor reported fourth quarter revenue of $664 million for its Patient Direct segment, up 8% compared to the fourth quarter of 2022.  Consolidated revenue was $2.7 billion, an increase of 4%, year-over-year.  “We once again delivered on our commitments and had a strong finish to 2023, demonstrated by our top-line growth across both business segments, robust profit growth and exceptional operating cash flow which allowed us to further strengthen our...

Home Medical Equipment (HME), Owens & Minor


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Providers

Lincare settles FCA allegations

February 19, 2024HME News Staff

NEW YORK – Lincare will pay $25.5 million to resolve claims that it violated the False Claims Act by fraudulently continuing to bill federal health care programs for the rental of non-invasive ventilators that patients no longer needed or used.    The settlement also resolves claims that Lincare violated the Anti-Kickback Statute by waiving coinsurance payments to induce certain Medicare and Tricare beneficiaries to rent NIVs.  As part of the settlement, Lincare also...

Lincare, Non-invasive ventilators


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Providers

Quipt reports ‘robust’ financial results 

February 15, 2024HME News Staff

CINCINNATI – Quipt Home Medical reported revenue of $65.4 million for the first quarter of fiscal 2024, a 60% increase compared to the same period last year.  Adjusted EBITDA was $15.3 million (23.5% of revenue) vs. $9.0 million (22% of revenue), a 71% increase; and net income (loss) was $(0.6) million vs. $0.3 million.  “We continued experiencing robust demand trends in the first quarter across our diverse product offering and are very pleased with the continued record...

Financial Results, fiscal 2024, Quipt Home Medical, second quarter


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Providers

Paragon Ventures marks 30 years

February 14, 2024HME News Staff

NEWTOWN, Pa. – Paragon Ventures is celebrating 30 years of strategic M&A for health care businesses.   The company has successfully completed more than 350 strategic mergers and acquisitions transactions in 45 states and across the continuum of health care, including infusion therapy, behavioral health, medical device, pharmacy, home medical equipment and advanced medical technologies.  “Our 30th anniversary is a testament to the trust placed in us by our clients...

Home Medical Equipment (HME), Mergers & Acquisitions (M&A), Paragon Ventures


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Providers

JANZ supports medics in Ukraine 

February 12, 2024HME News Staff

COLUMBUS, Ohio – JANZ Corp. recently watched more than $1 million worth of medical supplies leave its Columbus, Ohio, headquarters bound for Ukraine.  The shipment was the culmination of a six-month effort by Brain Finsterbusch, vice president of sales and a former U.S. Army medic, whose wife is also Ukrainian, to ensure that combat medics in Ukraine have the equipment they need to save lives on the front lines of its war with Russia.  “We succeeded in obtaining some of...

JANZ, Medical supplies, Ukraine


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Providers

Rotech names new CEO 

February 5, 2024HME News Staff

ORLANDO, Fla. – Rotech Healthcare has announced that Tim Pigg has transitioned from CEO to executive chairman of the board.  Pigg, who has served as CEO for the past 10 years and in various other leadership positions at the company for a total of 40 years, will be succeeded by Robin Menchen, who has been promoted from president and COO to president and CEO.  “I have worked closely with Robin for over two decades and she has consistently demonstrated exceptional leadership,...

Leadership, Robin Menchen, Rotech Healthcare, Tim Pigg


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Providers

Providers feel squeezed in wake of Philips exit

February 2, 2024Theresa Flaherty, Managing Editor

YARMOUTH, Maine – Even after enduring the roller-coaster of doing business with Philips Respironics the past few years, providers were still shocked by the company’s recent announcement that it would stop selling certain respiratory products.  Philips on Jan. 25 announced that it would discontinue selling 19 products in the U.S., including items subject to a recall, like the Trilogy 100/200/202 portable home ventilators. The company will service many of the products until Jan....

CPAP, Philips Respironics, Recall, ventilators


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Brian Healey

Providers

JANZ: ‘We have the model built’

February 2, 2024Theresa Flaherty, Managing Editor

COLUMBUS, Ohio – Its recent acquisition of Mullaney’s Medical Supply opens the door for JANZ Corp., a service-disabled, veteran-owned small business that has focused on serving military installations and veterans, to also serve people in their homes, says President Brian Healey.  While JANZ’s primary market for the military has been maternal and infant products, mobility products for injured soldiers and CPAP devices, it has now expanded its portfolio to include a wider...

Home Medical Equipment (HME), JANZ, Military, Mullaney's Medical Supply


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Lauren Bennett

Providers

Aeroflow Health taps three new execs to drive success 

January 30, 2024HME News Staff

ASHEVILLE, N.C. – Aeroflow Health has announced a number of leadership appointments, following its recent rebrand.  The company has appointed Scott Sonnone, previously CFO, as president; Ryan Bullock, previously COO, as chief strategy officer; and Lauren Bennett, previously vice president of Aeroflow Sleep, as COO.   “I’m very proud of the growth Aeroflow Health has exhibited and am excited to continue expanding the team and advancing its mission alongside...

Aeroflow Health, Lauren Bennett, Ryan Bullock, Scott Sonnone


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Providers

JANZ diversifies with acquisition of Mullaney’s Medical Supply

January 17, 2024HME News Staff

COLUMBUS, Ohio – JANZ Corp., a medical equipment supplier serving military installations and veterans, has diversified into the broader market with its acquisition of Mullaney’s Medical Supply, a locally owned and operated company that has served the Greater Cincinnati area since 1936.  JANZ, a service-disabled veteran-owned small business, will assume ownership of Mullaney’s Medical Supply locations in Blue Ash, West Chester and White Oak, Ohio, which together provide a...

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