Tag: AdaptHealth
AdaptHealth: Diabetes course correct shows ‘promising signs’
February 26, 2025Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – After consecutive declining quarters in Diabetes Health, AdaptHealth has remodeled its diabetes outreach program and integrated diabetes resupply into sleep resupply and adopted that segment's best practices, says CEO Suzanne Foster.
A diagnostic review highlighted several reasons for Diabetes Health’s underperformance, she told analysts on a recent call to discuss the company’s fourth quarter and full year 2024 financial results.
“Notwithstanding...
AdaptHealth says it continues to make progress
February 25, 2025HME News Staff
PLYMOUTH MEETING, Pa. - AdaptHealth has reported net revenue of $856.6 million for the fourth quarter of 2024, a 0.2% decrease compared to the same period in 2023, and $3.26 billion for the full year 2024, a 1.9% increase compared to 2023.
Net income was $50.3 million vs. a net loss of $254.5 million for the quarter and $90.4 million vs. a net loss of $678.9 million for the year.
“Over the course of the second half of 2024, we continued to make progress on our five areas of...
NYC Care partners with AdaptHealth to increase access to DME
February 24, 2025HME News Staff
NEW YORK – NYC Health + Hospitals’ NYC Care program has launched a DME benefit available at all NYC Health + Hospitals facilities supported by exclusive partner AdaptHealth. Patients without traditional medical insurance previously had to purchase any prescribed DME out-of-pocket. “The launch of the durable medical equipment benefit for eligible NYC Care members is an important milestone for the program as we continue to eliminate barriers to health care for New Yorkers,”...
Synapse taps former AdaptHealth exec for COO role
February 19, 2025HME News Staff
SKOKIE, Ill. - Synapse Health has appointed Shaw Rietkerk as COO to lead the company’s core operations and revenue cycle management. Previously, he served as COO of AdaptHealth, where he was instrumental in the company’s rapid growth by optimizing operations and RCM through technology implementation and process improvement. At Adapt, he was also a supplier partner in Synapse’s initial risk-based model launch, gaining firsthand insight into how Synapse can strengthen suppliers in...
In brief: Owens & Minor seeks financing, F&P ‘works through’ tariffs, docs oppose cut
February 5, 2025HME News Staff
RICHMOND, Va. – Owens & Minor is raising additional debt “while capital markets are attractive” to finance its acquisition of Rotech Healthcare, the company announced Feb. 3.
The company still expects to close on the acquisition in the first half of 2025.
“Our healthy free cash flow provides the vehicle for this proposed financing, as well as helping us achieve our deleveraging goals over the next few years,” said Edward Pesicka, president and CEO of...
AdaptHealth announces Bunting’s return
February 3, 2025HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has announced that Dan Bunting has officially rejoined the company as senior vice president, business development, to focus on opportunities with large payers and health systems, strategic mergers and acquisitions, and key partnerships. He previously served as COO and adviser to CEO Suzanne Foster. "It's no secret that Dan is one of the most knowledgeable and experienced leaders in HME," Foster said. "He also has an unrivaled network of...
In brief: MSC makes buy, specialty meds require more care, AdaptHealth names new exec
December 3, 2024HME News Staff
CLEVELAND – Medical Service Company has acquired Carle Medical Supply, a DME provider supporting Carle Health patients in central Illinois.
“Like so many other health care systems, Carle identified that value and impact that DME has on a patient’s hospital discharge experience,” said Josh Marx, CEO of MSC. “Although a small part of the care continuum, when done well, discharge speed accelerates and patient satisfaction increases. Through MSC’s investments...
AdaptHealth names chief commercial officer
December 3, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has appointed Russell Schuster chief commercial officer to oversee commercial strategy and revenue generation for the company. Most recently, Schuster served as president of Cardinal Health Canada and, prior to that, served in progressive roles within investment banking and M&A at Lehman Brothers, Barclays Capital and Republic Services. “We are thrilled to welcome Russ to the AdaptHealth team,” said Suzanne Foster, CEO. “Russ’s experience...
AdaptHealth targets diabetes business for improvement
November 8, 2024Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth CEO Suzanne Foster is doubling down on efforts to turn around the company’s struggling diabetes business, saying it was “worse” than she initially thought it was.
The product category, which makes up 17% of the AdaptHealth’s revenues, declined 11.8% during the third quarter, following a worse than expected performance during the second quarter.
“Following last quarter's results, I turned my attention to...
In brief: AdaptHealth’s static revenue, bid program’s impact, AOM’s Western expansion
November 6, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported third quarter net revenue of $805.9 million compared to $804 million, an increase of 0.2% year over year.
Net income attributable to AdaptHealth was $22.9 million vs. a net loss of $454.1 million. Adjusted EBITDA was $164.3 million vs. $161.2 million, an increase of 1.9%
“I continue to be optimistic about the road ahead,” said Suzanne Foster, CEO. “We have identified growth opportunities, we are assembling a high...