Protech: We’re ‘solid’

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Wednesday, July 8, 2020

CINCINNATI – Demand for respiratory equipment is increasing, and demand for CPAP and other supplies remains strong, Protech Home Medical says in a July 7 corporate update. The provider says as certain U.S. states see spikes in COVID-19 cases, it has taken the necessary steps to plan, prepare and respond to a second wave. “The company’s supply chain for critical equipment remains solid and we are comfortable with our current levels of inventory,” it stated. “However, as we feel appropriate, we will opportunistically build inventory to meet the increases in demand, particularly for vents and oxygen equipment.” Protech, which recently closed on a $31.8 million offering, also says it’s focused on a corporate strategy that incorporates technology, organic growth and strategic acquisitions. “Following the closing of the recent financing, the company has cash to continue to pursue additional accretive acquisitions that are designed to build scale, within markets currently served and new markets,” it stated.