Viemed ‘earns trust,’ sees growth
By HME News Staff
Updated 7:51 AM CST, Thu November 7, 2024
LAFAYETTE, La. – Viemed Healthcare reported revenues of $58 million for the third quarter of 2024, an increase of 17.4% year over year and an increase of 5.5% sequentially.
The company increased its ventilator patient count by 11% sequentially to 11,374 and increased its sleep therapy patient count by 11% sequentially to 19,478.
“Viemed continues to earn a trusted place in the home with our high-touch, technology-enabled clinical approach to delivering complex respiratory care services,” said Casey Hoyt, CEO. “As a vital link between patients, providers and payers, we are demonstrating Viemed’s value in increasing patient satisfaction, improving compliance and reducing rehospitalizations. This valuable position is helping us increase the patient population that we can serve for non-invasive ventilation, sleep, staffing and other complementary services.”
Other highlights:
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Viemed increased its sleep resupply orders by 9.7% sequentially to 22,143.
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The company maintains a cash balance of $11.3 million and an overall working capital balance of $11.3 million. Long term debt as of Sept. 30, 2024, amounted to $3.7 million and the company has $55.3 million available under existing credit facilities.
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Viemed now expects to generate net revenues of approximately $59.7 million to $60.9 million during the fourth quarter of 2024.
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