Protech reports Q4 revenue increase
By HME News Staff
Updated Fri January 31, 2020
CINCINNATI - Protech Home Medical reported revenues of $19.5 million for its fourth quarter ended Sept. 30, 2019, an increase of 8% over the same period in 2018. Recurring revenue was $55.1 million, an increase of 26%. Adjusted EBITDA was $3.7 million compared to $5.2 million. Full-year revenue for fiscal year 2019 was $81 million, a 15% increase year over year. “For two consecutive years, we have demonstrated consistent revenue and adjusted EBITDA growth and substantial improvements in EBITDA margins,” said CEO Greg Crawford. “We have also demonstrated that we can acquire businesses at highly attractive multiples and successfully integrate these businesses onto our platform.” Protech acquired Kentucky-based Colley Medical and Maine-based Acadia Medical in the fourth quarter of calendar year 2019. Protech, which offers respiratory, certain medical supplies and power mobility, currently operates more than 40 locations in 10 states.
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