Viemed broadens strategy 

LAFAYATTE, La. – Viemed Healthcare’s integration of HMP is “hitting its stride,” helping the company build out a more diversified product offering, says CEO Casey Hoyt. 

Viemed closed on its acquisition of Tennessee-based Home Medical Products, Inc., a large regional provider of respiratory focused home medical solutions in June 2023. That deal, and a recent joint venture with East Alabama Health that gave Viemed a controlling interest in East Alabama HomeMed, provides a road map for the company’s future growth plans, he said. 

“With the help and expertise of the HMP team, we were able to offer a full suite of DME products to help support the patients in East Alabama, extending our offering to go beyond respiratory,” said Hoyt during a recent call to discuss the company’s first quarter earnings. “By joining forces, we're not only poised to revolutionize care delivery, but also to drive tangible improvements in hospital profitability, while significantly expanding our reach into previously untapped markets.” 

Viemed plans to replicate the joint venture model around the country and is in active discussions with other hospitals, he said.  

While Viemed’s respiratory focus is still “top of mind” when it comes to strategic acquisitions, its recent success with HMP’s additional lines of business have the company thinking more broadly, said Hoyt. 

“It helped us to just realize that this is the holistic offering that maybe the JV and the hospital systems need,” he said. “So, I guess our M&A strategy has changed from the standpoint that we're not just after the respiratory DME, we're also after the hospital-owned DME that is more full line.” 

As far as its earnings go, the first quarter of 2024 marked a significant milestone for Viemed with net revenue increasing 28% compared to the same period in 2023, said Todd Zehnder, CFO.  

“This quarter, I would say the strongest performers were vents and sleep, just from a 40,000-foot view,” he said. “Resupply had a really good start to the year. So, everything performed well across all the product lines, but those are the ones that stand out that led the charge.”