Protech Home Medical expands into Florida with acquisition
By HME News Staff
Updated 8:29 AM CST, Wed February 3, 2021
CINCINNATI – Protech Home Medical has acquired Mayhugh’s Medical Equipment in Jacksonville, Fla., for $5.8 million.
MME, which has trailing 12-month annual revenues of $7 million and adjusted EBIDTA of $1.2 million, is a respiratory focused provider with more than 10,000 active patients, including 5,000 that Protech can immediately add to its resupply program.
The deal marks Protech’s first foray into Florida.
“MME’s heavily weighted respiratory product mix, and diversification of the payer mix, provides Protech with a stable foundation to start its Florida operations,” said Protech CFO Hardik Mehta. “We will look to grow our scale in Florida, both organically and through strategic bolt-on opportunities that present themselves.”
Protech this week reported revenue of $97.8 million for its fiscal year 2020 vs. $81 million for 2019, a 21% increase.
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