Quipt ‘evaluating’ opposition to board candidates

CINCINNATI — Quipt Home Medical has acknowledged receiving notice from Philotimo Fund, an entity affiliated with Kanen Wealth Management and David L. Kanen, of its intent to solicit proxies in support of four director candidates in opposition to the company’s four candidates. 

The company says its board and the Nominating and Corporate Governance Committee of the board will thoroughly review and evaluate KWM’s notice and any additional requests for compliance with its established procedures under the company’s articles and all applicable laws. 

At this time, the company says it has not received a timely, valid and compliant notice for nominating any directors to the board pursuant to both U.S. securities laws and the company’s articles and that shareholders are not required to take any action at this time.  

“Our priority has always been to execute on our strategic growth plan ensuring we position the company for long term success and adhere to the highest standards of corporate governance,” said Mark Greenberg, lead independent director of board of the company. “The company has delivered consistent financial and operational performance in the midst of a challenged industry environment, and we believe our disciplined approach has positioned us to generate sustainable value for all stakeholders. We continue to evaluate and pursue avenues in which we can increase shareholder value, and we will not be distracted from achieving our long-term goals.” 

In its Jan. 25 notice, Philotimo stated its intention to solicit proxies for the election of Selim Bassoul, Jack Feidor, Garrett Larson and Edward Smith as nominees to be elected to the board at the Annual Meeting on March 17. Quipt’s four director candidates are Gregory Crawford, CEO of the company; Mark Greenberg; Kevin Carter; and Brian Wessel. 

• Related: In a recent earnings report, Quipt missed its target for fiscal year 2024.