Viemed ready to stop ‘moonlighting’ on growth strategy 

LAFAYETTE, La. – Viemed Healthcare has doubled its patient count since the pandemic started and has inventory on the shelves “ready to go for future growth,” company execs said on a recent earnings call. 

The bulk of those new patients are sleep patients, thanks to Viemed’s patient acquisition strategy, says CEO Casey Hoyt. 

“Rather than going out and spending the money on buying distressed companies, we wanted to go out and really capture those patients who were sitting on waiting lists in need,” he said on the call to discuss the company’s financial results for the second quarter of 2022. “We were able to do that. We’re not having any restraints right now.” 

Viemed is also forming a team dedicated to acquisition strategy, boosted by the recent hires of Michael Freeman as chief business development officer and Jeremy Trahan as chief legal officer and executive vice president of acquisitions and strategic transactions. 

Prior to joining Viemed, Freeman and Trahan were executives at LHC Group, where they were involved in more than 100 transactions valued at about $1.9 billion collectively.  

“Before, we were all somewhat moonlighting on that growth strategy,” said Hoyt. “They bring a lot of experience on just internal processes that we need. We've got a target list that we didn't get going on and they're using a lot of their old contracts to start finding new targets for us, as well.” 

Priority targets remain “respiratory type durable medical equipment businesses,” Hoyt said.  

“We know that we might pick up a product line or two that we don't really manage over here at Viemed, but we certainly have the legacy DME knowledge and the teammates here in-house to kind of work through all of those processes,” he said. “We're really looking at all DMEs throughout the country, at this point, just to see if we can find a good fit.”