Tag: InfuSystem Holdings
InfuSystem sees ‘acceleration’
November 7, 2024HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported revenue of $35.3 million for the third quarter of 2024, an increase of 11% year over year. Of that, Patient Services net revenue was $20.8 million and Device Solutions net revenue was $14.5 million. Adjusted EBITDA was $7.9 million, an increase of 15% year over year. “Our third quarter financial results reflect the forecasted acceleration in our business in the second half of the year,” said Rich Dilorio, CEO. “We saw significant...
In brief: Abbott, Medtronic partner & InfuSystem, Smith+Nephew partner
August 9, 2024HME News Staff
ABBOTT PARK, Ill. – Abbott will enter a global partnership with Medtronic to collaborate on an integrated continuous glucose monitoring (CGM) system based on Abbott's FreeStyle Libre technology and Medtronic's automated insulin delivery (AID) and smart insulin pen systems.
The integration of Abbott's CGM sensor with Medtronic's AID algorithms will enable automatic adjustments of insulin to keep glucose in range, the companies say.
"This partnership pairs...
InfuSystem to repurchase up to $20 million in stock
May 22, 2024HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has announced a stock repurchase program authorizing the company to repurchase up to $20 million of its outstanding common stock through June 30, 2026. The program supersedes the previous authorization, which was set to expire June 30, 2024. Under the previous authorization, InfuSystem repurchased approximately 550,000 shares of stock for approximately $6.2 million. “This authorization will continue the company’s long-standing buyback...
InfuSystem receives delinquency notice
April 3, 2024HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has received notice from the New York Stock Exchange Regulation that the company is not in compliance with its continued listing standards under the timely filing criteria. InfuSystem failed to timely file its Annual Report on Form 10-K for the year ended Dec. 31, 2023, which was due with the Securities and Exchange Commission no later than April 1, 2024. The company has been unable to file the Delinquent Report because, as previously disclosed in...
InfuSystem sees sixth straight quarter of record revenues
August 9, 2023HME News Staff
ROCHESTER HILLS, Michigan – InfuSystem Holdings reported net revenues of $31.7 million for the second quarter, an increase of 17% compared to the prior year.
Net revenue for Patient Services (formerly Integrated Therapy Services) was $19.3 million, an increase of 12% compared to the prior year, while net revenue for Device Solutions (formerly Durable Medical Equipment Services) was $12.4 million, an increase of 27%.
“I am extremely pleased with the results of the second...
InfuSystem to offer Genadyne’s wound care line
April 27, 2023HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has entered into a national distribution agreement with Genadyne Biotechnologies to offer its negative pressure wound therapy systems and supplies. InfuSystem will offer Genadyne’s complete line of wound care products, including its most advanced XLR8 Plus NPWT Pump, which delivers advanced variable pressure capabilities with a gradual wave, in conjunction with Genadyne’s proprietary XLR8 Dressing Kit with Silver, an antimicrobial contact...
InfuSystem reports top-line growth of 9% in Q4
March 15, 2023HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $28.8 million and $109.9 million, respectively, for the fourth quarter and full year 2022.
For the quarter, gross profit was $16.1 million, and gross margin was 55.8%; for the full year, gross profit was $62.6 million, and gross margin was 56.9%. Adjusted EBITDA for the full year was $20.7 million, a decrease of 14% vs. the prior year.
“We had a highly productive year in 2022 with solid performance...
InfuSystem’s ITS business drives Q3 growth
November 9, 2022HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $27.3 million for the third quarter, an increase of 3% over the same period the prior year. Integrated Therapy Services (ITS) net revenue was $17.4 million, an increase of 5% vs. the prior year. Durable Medical Equipment Services net revenue was $9.9 million, a decrease of 1% vs. the prior year. “The financial performance for the third quarter was solid with record revenue of $27.3 million and strong gross margin of...
InfuSystem partners with Sanara MedTech on new wound care partnership
November 3, 2022HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has partnered with Sanara MedTech to create SI Wound Care, LLC, a partnership to enable InfuSystem to offer products, including Cork Medical’s negative pressure wound therapy devices and supplies and Sanara’s advanced wound care product line to new customers through the jointly controlled entity. “Over the past few years, we have built our NPWT business as a turnkey solution with a focus on offering high quality options to patients...
InfuSystem appoints Malhotra to board
September 28, 2022HME News Staff
ROCHESTER HILLS, Mich. – InfuSystem Holdings has appointed R. Rimmy Malhotra as a new independent director to its board of directors effective Sept. 20, 2022. Malhotra, founder of The Nicoya Fund LP, a private investment partnership, currently serves as a director and vice chairman of HireQuest Inc., a light staffing franchisor. “I have long admired InfuSystem, and believe the company has the opportunity to significantly expand its business to the benefit of all stakeholders,” said...