Tag: Quipt Home Medical
Quipt misses target but ‘optimistic’
December 18, 2024Theresa Flaherty, Managing Editor
CINCINNATI – Quipt Home Medical has made organic growth a top priority in fiscal year 2025, after it missed its target of 8% to 10% in fiscal year 2024, company execs say.
The company reported year-over-year organic growth of just 3% for FY 2024, amid industry-wide headwinds, including a $5 million revenue hit related to the expiration of the 75/25 Medicare blended reimbursement rates on Jan. 1, 2024, and the loss of Medicare Advantage members due to a capitated agreement between...
Quipt reports 13% increase in setups
December 17, 2024HME News Staff
CINCINNATI – Quipt Home Medical completed approximately 854,000 unique setups/deliveries in fiscal year 2024, an increase of 13%.
This includes approximately 480,000 respiratory resupply setups/deliveries for fiscal year 2024, compared to approximately 396,000 for fiscal year 2023, an increase of 21%.
“Our results for fiscal 2024 reflect the resilience of our business and the scalability of our operating model,” said Greg Crawford, chairman and CEO. “Despite...
Analysts reflect on OMI deal, market conditions
September 13, 2024Theresa Flaherty, Managing Editor
Owens & Minor’s acquisition: Owens & Minor (OMI) acquired Rotech Healthcare for $1.36 billion, aiming to secure large payer contracts for value-based care and a capitated risk model.
Market impact: The acquisition, along with favorable conditions like improving interest rates and demand, could stimulate further M&A activity in the HME industry.
Quipt Home Medical’s strategy: Following the OMI-Rotech deal, Quipt Home Medical is focusing on acquiring companies...
Quipt: ‘We’ll be diligently working on deals’
August 21, 2024Theresa Flaherty, Managing Editor
CINCINNATI – Quipt Home Medical is “diligently working the pipeline” of acquisitions, specifically tuck-in acquisitions, says CEO and Chairman Greg Crawford.
The reason for that renewed interest: The “valuation gap” between the recent acquisition of Rotech Healthcare by Owens & Minor at 6.3x EBITDA and Quipt’s fundamentals, he told investors on a recent call to discuss the company’s third quarter earnings.
“We think that we can still...
In brief: Quipt’s focus, MobilityWorks’ milestone, RoundTable’s new location
August 16, 2024HME News Staff
CINCINNATI – Quipt Home Medical, which reported revenue of $64 million for the third quarter of 2024, a 6.1% increase year over year, says it is “focused on identifying synergistic acquisition candidates” in the wake of Owens & Minor buying Rotech Healthcare.
“The recent acquisition of a larger peer in our industry underscores the significant valuation gap we have in the marketplace compared to our fundamentals,” said CEO and Chairman Greg Crawford. “Furthermore,...
Quipt eyes acquisitions
August 15, 2024HME News Staff
CINCINNATI – Quipt Home Medical, which reported revenue of $64 million for the third quarter of 2024, a 6.1% increase year over year, says it is “focused on identifying synergistic acquisition candidates” in the wake of Owens & Minor buying Rotech Healthcare.
“The recent acquisition of a larger peer in our industry underscores the significant valuation gap we have in the marketplace compared to our fundamentals,” said CEO and Chairman Greg Crawford. “Furthermore,...
Quipt makes play for diabetes
May 17, 2024Theresa Flaherty, Managing Editor
CINCINNATI – Quipt Home Medical has dipped its toe into the diabetes market, which company execs say represents a “promising avenue” for growth.
The company started testing the market in fiscal 2023, offering CGMs and supplies in certain markets, CEO Greg Crawford said on a call to discuss second fiscal quarter 2024 earnings.
“The early signs have looked pretty good for us, so now we're in the process of expanding that around the rest of the company,”...
Quipt reports Q2 increase, announces plans to add diabetes
May 16, 2024HME News Staff
CINCINNATI – Quipt Home Medical reported revenue of $64 million for its second fiscal quarter 2024, a 10% increase year over year.
Revenues for the six months ended March 31, 2024, were $129.3 million, a 31% increase year over year.
“We are very proud of the resilience of our business and our ability to maintain our strong margin profile amid certain industry-related challenges experienced during fiscal Q2,” said Greg Crawford, CEO and chairman. “We have...
Quipt Home Medical implements capital allocation option
May 6, 2024HME News Staff
CINCINNATI – Quipt Home Medical has announced the Toronto Stock Exchange has accepted its notice of intention to implement a normal course issuer bid (NCIB). Under the NCIB, the company may purchase for cancellation up to 3,626,845 common shares from time to time in accordance with applicable securities laws, representing approximately 10% of the company’s public float (as defined by the TSX). “We are pleased to announce this NCIB as an additional capital allocation option...
Quipt addresses investigation, commits to e-prescribing
February 23, 2024Theresa Flaherty, Managing Editor
CINCINNATI – Quipt Home Medical’s strong fiscal first quarter was tempered by news of a recently-announced investigation into certain claims, during a recent earnings call.
Quipt has disclosed that it has received a civil investigative demand from the U.S. Attorney’s Office for the Northern District of Georgia pursuant to the False Claims Act regarding an investigation concerning whether the company may have caused the submission of false claims to government health...