Viemed posts gains in revenue, patient growth

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Friday, August 9, 2019

LAFAYETTE, La. – Viemed Healthcare reported revenue of $22.5 million for the second quarter of 2019, a 45% increase compared to the same period last year. It reported net income of $1.8 million, a 23% decrease.

Viemed reported revenue of $43 million for the first six months of 2019 compared to $29.6 million for the same period last year. It reported net income of $3.97 million vs. $4.7 million.

The company says it grew its vent patient count by about 40% in the second quarter of 2019 compared to the same period last year and about 12% compared to the first quarter of 2019.

“I am extremely pleased with another record breaking quarter in revenue and patient growth,” said Casey Hoyt, Viemed CEO. “We are making tremendous strides in our future growth initiatives in the technology, marketing and new referral sources areas, including the VA system as well as the pediatric division. Additionally, we continue to roll out oxygen therapy around the country as well as a new compression therapy product line. These investments, along with our completed building purchase and Nasdaq listing have us on an exciting path to more future success.”

Viemed expects to generate revenue of about $23.7 million to $24.5 million for the third quarter of 2019.

The company also reported that it has completed the purchase of a 77,000-square-foot building that will serve as its corporate headquarters later this year.