Quipt enters 19th state
By HME News Staff
Updated 9:28 AM CDT, Tue June 21, 2022
CINCINNATI – Quipt Home Medical has acquired Access Respiratory Homecare, a Louisiana-based provider with unaudited trailing 12-month annual revenues of about $6.5 million and anticipated adjusted EBITDA of $1.3 million post-integration.
With Access Respiratory’s two locations in Louisiana, Quipt gains access to the large market of New Orleans, as well as Lafayette and surrounding areas.
“We are extremely excited to close the acquisition of Access Respiratory Homecare, providing us a meaningful entrance into Louisiana, representing our 19th state of service,” said Greg Crawford, chairman and CEO of Quipt. “Louisiana is an attractive market that we have been looking to enter with over 300,000 COPD sufferers across the state, and we are thrilled to be able to do so on the heels of this acquisition.”
Access Respiratory adds more than 1,000 referring physicians, bringing Quipt’s network base to more than 20,600, and adds more than 6,000 active patients, bringing its total active patient count to more than 190,000.
As part of the integration process for Access Respiratory, more than 2,400 patients are set to join Quipt’s resupply program, an immediate revenue synergy.
“Our resupply program is an immediate actionable revenue synergy for us,” Crawford said. “Moreover, the valuable commercial insurance contracts, strong referring physician base, and opportunity for a land-and-expand approach in the state make this a fantastic acquisition for us.”
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