Quipt, Kanen announce cooperation agreement 

CINCINNATI – David Kanen, Philotimo Fund and Kanen Wealth Management have agreed to withdraw their notice to solicit proxies in support of four director candidates in opposition to the candidates recommended by Quipt Home Medical. 

As part of a new cooperation agreement, the company's board of directors has granted Kanen certain board access rights for as long as Kanen maintains aggregate beneficial ownership of at least 3.5% in the company’s outstanding shares. This includes the right to request and conduct quarterly discussions with either the chairman of the board or another non-executive director designee of the board. 

“We want to thank Kanen for their constructive discussions and valuable insights,” said Mark Greenberg, lead independent director of the board. “We appreciate the perspectives of all shareholders and welcome ongoing engagement as management executes on our strategic growth plans to drive long-term growth.” 

As part of the agreement, Quipt has also agreed to establish a new committee of the board to review and provide analysis and non-binding recommendations pertaining to Kanen’s previously communicated recommendations on corporate governance and other areas related to the company’s operations. 

Additionally, Kanen has agreed to a customary standstill, a voting commitment and other provisions. 

“We appreciate the company’s willingness to engage with us and its commitment to maximizing value for Quipt shareholders,” said David Kanen, president and CEO of Kanen. “The formation of this committee is an important step, and we look forward to working constructively with the company to help unlock long-term value.” 

• Related: Investor to oppose Quipt board nominees.