Archive: February 2019
Viemed sees continued growth
February 28, 2019HME News Staff
LAFAYETTE, La. - Viemed Healthcare reported revenues of $18.5 million for the fourth quarter of 2018, an increase of 37% over the sane quarter the previous year. Revenues for the full year were $65.3 million, an increase of 39% compared to 2017. Adjusted EBITDA was $4.9 million for the quarter and $17.2 million for the year. Viemed grew its ventilator patient count in the fourth quarter by approximately 8% compared to the third quarter, and by 35% for all of 2018. Looking ahead, the company expects...
New CEO to take reins at Integra Partners
February 28, 2019HME News Staff
NEW YORK - Integra Partners has named Dominic Paniccia as its new CEO, effective March 31. Paniccia succeeds Andrew Saltoun, who will serve as a senior adviser to the organization, according to a press release. Paniccia joined Integra as CFO in 2016 and was named president in 2018. Under his leadership, the company has created a new customer-centric model that has improved operations and increased revenues. Previously, Paniccia has held leadership positions at American Express, AIG and CB Insights....
Essity taps Feenan
February 27, 2019HME News Staff
PHILADELPHIA - Essity has named Michael Feenan vice president of sales and marketing for North America. Feenan will be responsible for the medical and incontinence businesses for the U.S. and Canada. Previously, he served as vice president of sales and marketing for incontinence for North America and Canada Medical. Essity, a global hygiene and health company, has several brands, including TENA, Leukoplast, Actimove and JOBST.
Inogen reports record sales year
February 27, 2019HME News Staff
GOLETA, Calif. - Inogen reported total revenues of $86.5 million for the fourth quarter of 2018, an increase of 35.7% over the same period in 2017. Sales revenues were $80.7 million and rental revenues were $5.8 million. Total year revenue was $358.1 million in 2018, up 43.6% compared to 2017, with record sales revenue of $336 million, up 49%. Total units sold for the year were 198,600, an increase of 55.2% compared to 2017. Inogen has increased the number of direct-to-consumer inside sales representatives...
WellSky cracks market for long-term acute care hospitals
February 27, 2019HME News Staff
LENEXA, Kan. - WellSky, a provider of health and community care technology, has acquired Health Care Software, a provider of integrated clinical and financial IT software for long-term and post-acute care providers, the companies announced Feb. 26. The deal allows WellSky to add long-term acute care hospitals and inpatient psychiatric care, inpatient rehab, senior living and long-term care facilities to its portfolio, which already includes home health, hospice, home infusion and specialty pharmacy....
Award highlights BOC's 'Sales Distinction'
February 26, 2019HME News Staff
OWINGS MILLS, Md. - The Board of Certification/Accreditation has won a Stevie Award for Sales Distinction of the Year. It's BOC's ninth consecutive award. The award for Sales Distinction of the Year in the “Healthcare, Pharmaceuticals and Related Industries” category recognizes the company's successful growth despite a decline in one of its largest customer target markets: DME. BOC credits its growing customer base and revenue with a customer-centric sales approach and a commitment to...
Double accreditation for Soleo Health
February 26, 2019HME News Staff
MCKINNEY, Texas - Soleo Health has announced two accreditations: Home Care Accreditation from The Joint Commission and Specialty Pharmacy Accreditation from URAC. Soleo Health went through an onsite survey with the Joint Commission, demonstrating continuous compliance with its performance standards and earning a Gold Seal of Approval, a symbol of quality that reflects an organization's commitment to providing safe and effective care. Soleo earned a 97.62% score as part of its URAC accreditation,...
Insulet reports positive net income for first time
February 26, 2019HME News Staff
ACTON, Mass. - Insulet Corp. has reported net income of $9.9 million for the fourth quarter of 2018 compared to a net loss of $6.9 million for the same period in 2017.The company reported net income of $3.3 million for all of 2018 vs. a net loss of $26.8 million for 2017.It's the first time in Insulet's history that the company has achieved full-year positive operating income and net income.“Insulet had a remarkable 2018, achieving our third consecutive year of over 20% revenue growth, significantly...
State news: Minnesota, Kansas
February 26, 2019HME News Staff
Minnesota Gov. Tim Walz has released budget recommendations for 2020 and 2021 that include reimbursement cuts for DME, MAMES reports. Walz proposes changing “the medical assistance reimbursement formula for durable medical equipment that is also covered by Medicare to pay equivalent to the Medicare rate�This would reduce payment for DME starting in FY 2019 and reduce the value of recoveries in the forecast starting in FY 2021.” Walz also proposes simplifying reimbursement for products...
Quantum Rehab spotlights iLevel users
February 22, 2019Liz Beaulieu, Editor
DURYEA, Pa. - Quantum Rehab has launched a dedicated website to showcase some of the more than 20,000 consumers who now use iLevel.The website, www.lifeatilevel.com, features photos, videos, blogs and biographies.“Consumers are coming up to us all the time, saying, 'Take my picture using your technology; we want to be on your website,' so we wanted a separate place for that,” said Megan Kutch, director of marketing for Quantum Rehab. “I've been in this industry for more than...