Archive: February 2020
AdaptHealth eyes bolt-ons for supply business
February 28, 2020Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. - On the heels of a “record” 2019, AdaptHealth looks to add another $100 million in revenues through acquisitions in 2020, CEO Luke McGee said during the company's first earnings call last week.AdaptHealth has already completed a near-record 18 acquisitions in 2019, deal-making that it expects to add annual net revenues of $116 million.“Our acquisition pipeline remains robust and we expect to be active in 2020,” said McGee. “We believe we can accretively...
Oventus Medical gains traction in DME channel
February 28, 2020Liz Beaulieu, Editor
BRISBANE, Australia - Oventus Medical, which makes oral devices to treat obstructive sleep apnea, has snagged a key contract in its quest to leverage the DME channel as part of its go-to-market strategy.Oventus announced last week an agreement with the Asheville, N.C.-based Aeroflow Healthcare to provide its O2Vent Optima through the provider's locations and direct-to-consumer e-commerce platform, and through agreements with referring sleep clinics across the Southeastern U.S.“DMEs need to...
In brief: Rowheels 'redefines' distribution channel, Heartland registration opens
February 28, 2020HME News Staff
MADISON, Wis. - Rowheels has launched RehabPulse.com, an online marketplace for rehab equipment from the top manufacturers and brands.
To start, the site will initially offer manual and power wheelchairs, ramps, braces and compression, and aids to daily living. It will eventually expand to include other products, as well as service and repairs.
“We want RehabPulse.com to become the leading global technology platform to meet the complex demands of people with mobility challenges,”...
Inogen expects better second half of 2020
February 28, 2020Liz Beaulieu, Editor
GOLETA, Calif. - Following Inogen's multiple years of high revenue growth, the fourth quarter of 2019 represented a “slowdown,” acknowledges CEO Scott Wilkinson.
The company reported revenue of $78.9 million for the fourth quarter of 2019 compared to $86.5 million for the same period in 2018, an 8.8% decrease. It reported a net loss of $1.4 million vs. a net income of $10 million.
“We are assessing our organization from both a commercial and operational perspective to...
Rowheels 'redefines' distribution channel
February 28, 2020HME News Staff
MADISON, Wis. - Rowheels has launched RehabPulse.com, an online marketplace for rehab equipment from the top manufacturers and brands.
To start, the site will initially offer manual and power wheelchairs, ramps, braces and compression, and aids to daily living. It will eventually expand to include other products, as well as service and repairs.
“We want RehabPulse.com to become the leading global technology platform to meet the complex demands of people with mobility challenges,”...
Bonafide launches solution to reduce bad debt
February 28, 2020HME News Staff
THOUSAND OAKS, Calif. - Bonafide Medical Group has launched Eligibility Plus, a patient responsibility estimator that integrates with its workflow management software. It generates real-time estimates of the patient's out-of-pocket responsibility at the point of service, allowing providers to more explain what is owed and why. This, in turn, lowers the potential for bad debt write-offs and improves staff efficiency and productivity. “Navigating health care costs with patients can be uncomfortable...
Sunrise Medical acquires Oracing
February 28, 2020HME News Staff
FRESNO, Calif. - Sunrise Medical has acquired Oracing, a Spanish manufacturer of sports, made-to-measure wheelchairs and E-Mobility power products sold primarily in Europe. “Sports and E-Mobility are exciting yet still very fragmented market spaces with great growth potential,” said Thomas Babacan, group CEO at Sunrise. “Oracing complements and strengthens our portfolio. They have achieved impressive growth with their expertise and passion.” Babacan said the two companies...
Registration now open for Heartland
February 28, 2020HME News Staff
WATERLOO, Iowa - Registration is open for VGM's annual Heartland Conference, which takes place June 15-17 in Waterloo, Iowa. Early Bird Pricing is available to those who register before April 17. Passes are all-inclusive and include access to this year's pre-conference sessions, as well as all conference education, meals, entertainment and access to products and business solutions offered by VGM's vast network of vendors. “We're pleased to announce that registration is now open...
GEC issues senior notes
February 27, 2020HME News Staff
WALTHAM, Mass. - Great Elm Capital has issued $30 million in 5% convertible senior notes due 2030. Interest on the notes will be payable semiannually, in kind or in cash at the company's option. The notes may initially be converted at the investors' option at $3.4722 per share. Investors on the notes include the company's largest existing shareholders, funds managed by Imperial Capital Asset Management and Northern Right Capital Management. “We are pleased to have completed the notes offering,...
WellSky Foundation honors outreach group
February 27, 2020HME News Staff
OVERLAND PARK, Kan. - The WellSky Foundation has awarded $50,000 to Mobile Loaves & Fishes, an Austin, Texas-based outreach for the homeless. MLF will use the donation to expand its Community First! Village, a master-planned community that provides affordable, permanent housing and a supportive community for people coming out of homelessness. “Building empowered, supportive communities is vital to our mission of lifting our neighbors out of chronic homelessness,” said Alan Graham, founder...