Tag: Allina Health
In brief: Allina Health partnership, TRICARE appeal, DME scams
October 21, 2022HME News Staff
MINNEAPOLIS – Allina Health has partnered with venture capital firm Flare Capital Partners to launch Inbound Health, a new company that enables health systems and health plans to offer hospital-at-home and skilled nursing-at-home programs.
Allina Health and Flare Capital are leading a $20 million fundraising round for Inbound Health to scale successful acute care-at-home programs nationally through their unique partnership model, they say.
“The home hospital programs...
Allina Health partners with VC to scale hospital-at-home model
October 18, 2022HME News Staff
MINNEAPOLIS – Allina Health has partnered with venture capital firm Flare Capital Partners to launch Inbound Health, a new company that enables health systems and health plans to offer hospital-at-home and skilled nursing-at-home programs.
Allina Health and Flare Capital are leading a $20 million fundraising round for Inbound Health to scale successful acute care-at-home programs nationally through their unique partnership model, they say.
“The home hospital programs...
AdaptHealth continues brisk pace of acquisitions
May 7, 2021Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth has made another large acquisition: Spiro Health, giving it 22 locations in eight states where it doesn’t have much of a presence.
The Massachusetts-based Spiro Health was formed in 2020 with the merger of America's HealthCare at Home, Cape Medical Supply and Health Complex Medical, and is headed up by CEO Gary Sheehan.
“We welcome Gary and the entire Spiro team,”...
AdaptHealth reports triple-digit growth
May 6, 2021HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $482.1 million for the first quarter of 2021, an increase of 152% over the same quarter last year.
Adjusted EBITDA was $104.2 million, a 242% increase, and adjusted EBITDA less patient equipment capex was $61.9 million, a 254% increase.
The company reported a net loss of $4 million for the first quarter of this year versus a net loss of $34.6 million for the same period last year.
“I’m...
AdaptHealth sits ‘above high water’ in 2021
March 5, 2021Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth posted a record-breaking year in 2020 and its acquisition of AeroCare in February sets up the company for accelerated growth in 2021, execs said on a recent earnings call.
AdaptHealth reported net revenue of $348.4 million for the fourth quarter of 2020, a 133% increase compared to the same period in 2019, and $1.06 billion for the full year, a 99% increase compared to 2019.
“Our patient’s home health needs have only grown throughout...
AdaptHealth reports record-breaking quarter
March 4, 2021HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $348.4 million for the fourth quarter of 2020, an increase of 133% compared to the same quarter in 2019. For the full year, net revenue was $1.06 billion, a 99% increase compared to 2019.
Adjusted EBITDA less patient equipment capex was $58.5 million vs. $21.8 million for the quarter and $142.5 million vs. $75.6 million for the year.
“We are very pleased with...
In brief: Congressional caucus on sleep, Sullivan Health’s first acquisition, telehealth expansion finalized
December 3, 2020HME News Staff
DARIEN, Ill. – The American Academy of Sleep Medicine has created a Congressional Sleep Health Caucus to promote healthy sleep and the importance of high-quality, patient-centered care for patients.
The caucus is co-chaired by Reps. Zoe Lofgren, D-Calif., and Rodney Davis, R-Ill.
“As we deal with the unique challenges and added stress brought on by the COVID pandemic, the necessity of good, quality sleep is all too clear,” said Lofgren. “Insufficient sleep...
Allina Health sells to AdaptHealth
December 3, 2020HME News Staff
ST. PAUL, Minn. - Allina Health is selling its HME division to AdaptHealth, according to ABC Newspapers. The purchase includes Allina's Home Oxygen & Medical Equipment Division, also known as HOME. “We are extremely proud of the work and commitment of our Home Oxygen & Medical Equipment staff,” said Lisa Shannon, president and COO of Allina Health. “We are excited about AdaptHealth's deep industry expertise and resources to grow and invest in the division.” HOME has...
AdaptHealth, AeroCare deal to 'accelerate' growth
December 3, 2020Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. - After operating on parallel acquisition tracks for the past few years, AdaptHealth will acquire AeroCare Holdings for $1.1 billion in cash and 31 million shares, for a total purchase price of about $2 billion, in the biggest deal in HME in years.
Both companies have made acquisitions a cornerstone of their growth plans: Since 2017, AdaptHealth has closed 64 transactions; AeroCare has closed 50. Since its inception, AeroCare has closed a total of 155 transactions, building...
In brief: Centene, WellCare merger finalized; Aeroflow partners with network
January 24, 2020HME News Staff
ST. LOUIS - Centene Corp. has completed its acquisition of WellCare Health Plans, creating what it calls the leading healthcare enterprise focused on government-sponsored healthcare programs.
Centene now provides health care to more than 24 million members across 50 states, or one in 15 people across the nation.
"We are pleased to have completed this transformational acquisition to create a leading healthcare enterprise committed to helping people live healthier lives through access to high-quality...