Viemed grows vent base by 31% in Q4

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Wednesday, March 4, 2020

LAFAYETTE, La. – Viemed Healthcare reported net revenues of $21.4 million for the quarter ended Dec. 31, 2019, a 30% increase over revenue less bad debt expense reported for the comparable quarter in 2018.

Net income was $2.4 million, a 20% decrease.

Viemed reported net revenues were $80.3 million for 2019, a 38% increase compared to 2018. Net income was $8.5 million, a 10% decrease.

The company says it grew its ventilator patient base by about 31% in the quarter year over year, and 5% compared to the previous quarter.

“I am once again proud of our team for posting another record year for revenues and Adjusted EBITDA,” said Casey Hoyt, Viemed's CEO. “While the financial results are impressive, I am equally as pleased with the continued development of our internal platform to accommodate additional growth in the future of our business. We continue to invest in programs that are focused on the best care for our patients, and that mission is designed to result in organic growth in the future.”

Viemed says it expects to generate net revenues of about $21.8 million to $22.8 million during the first quarter of 2020.