Great Elm's DME biz exceeds expectations
By HME News Staff
Updated Tue February 12, 2019
WALTHAM, Mass. - Great Elm Capital Group, which acquired and merged Valley Healthcare Group and Northwest Medical last year, reported that DME generated $13.2 million of revenue, $400,000 of net income and $3.6 million of adjusted EBITDA in the second quarter of 2019, exceeding original expectations. “In addition to driving organic revenue and EBITDA growth, the DME operating team is aggressively working to realize additional, potential synergies by the end of calendar year 2019,” the company stated. “The team is also pursuing potential M&A opportunities with complementary product profiles that increase market penetration and extend existing geographic markets.” Great Elm says it has two DME companies currently under letters of intent (LOIs) and continues to conduct diligence on companies across multiple industries. Great Elm also reported that new CPAP/BiPAP patient setups increased more than 25% in the second quarter compared to the same quarter last year.
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