Viemed ready to stand alone

Friday, March 16, 2018

LAFAYETTE, La. – With its corporate split in the rearview mirror, Viemed Healthcare has hit the ground running, company execs told investors on a recent earnings call.

“We expect strategic acquisitions, new payer contracts and favorable market conditions to play the biggest role in our organic growth,” said CEO Casey Hoyt. “We are always searching for opportunities to bring incremental growth to our company.”

Viemed reported revenues of $13.5 million for the fourth quarter of 2017, an increase of 47% compared to the same period in 2016. For the year, it reported revenues of $46.9 million, an increase of 50% compared to 2016.

“We are very pleased with our growth,” said Hoyt.

A big factor in that growth: Vent patient count grew by 43%, said Hoyt, who said the company relied less on geographic expansion, focusing instead on beefing up its existing areas by adding clinical and sales support during the fourth quarter.

“We saw those top areas grow by 75% on an annualized basis,” he said.

However, Viemed, which operates in 25 states, does have plans to grow its footprint; it recently completed an expansion into Nevada and got licensed in 12 new states, said Hoyt.

“We do not rest,” he said. “We are looking for new geographic areas to expand into.”

With roughly 1,000 baby boomers turning 65 each day for the next 19 years, Viemed is fulfilling a need that will only grow, says Hoyt, and the company is laying the groundwork for that future with a third-party analysis of its data to highlight its value to payers.

“The numbers will tell a powerful story to Medicare and other payers on how we are saving them a substantial amount of money,” he said.

Other highlights from the call:

Adjusted EBITDA for the year totaled approximately $12 million.

The company expects total revenues of approximately $14 million to $14.3 million in first quarter revenues for 2018, an increase of 41% over the same period in 2017.