Tag: Quipt Home Medical
In brief: Quipt Home Medical cooperates, Bellevue Healthcare grows, Tennr hires expert
March 5, 2025HME News Staff
CINCINNATI – Quipt Home Medical says David Kanen, Philotimo Fund and Kanen Wealth Management have agreed to withdraw their notice to solicit proxies in support of four director candidates in opposition to those recommended by the company.
As part of a new cooperation agreement, the company's board of directors has granted Kanen certain board access rights for as long as Kanen maintains aggregate beneficial ownership of at least 3.5% in the company’s outstanding shares. This...
Quipt, Kanen announce cooperation agreement
March 4, 2025HME News Staff
CINCINNATI – David Kanen, Philotimo Fund and Kanen Wealth Management have agreed to withdraw their notice to solicit proxies in support of four director candidates in opposition to the candidates recommended by Quipt Home Medical.
As part of a new cooperation agreement, the company's board of directors has granted Kanen certain board access rights for as long as Kanen maintains aggregate beneficial ownership of at least 3.5% in the company’s outstanding shares. This...
Quipt: ‘We’ve got a lot of levers that we’re pulling’
February 12, 2025Theresa Flaherty, Managing Editor
CINCINNATI – Quipt Home Medical is focusing on “steady progress” in the face of several headwinds, including an expected $3 million annual impact from the expiration of 75/25 blended Medicare reimbursement rates.
The company, which seeks to return to 8% to 10% organic growth rate in 2025, has also been impacted by the withdrawal of Medicare Advantage members due to a capitated agreement with other providers and a discontinued disposable supply contract.
“It’s...
Quipt: Results reflect ‘tangible progress’
February 11, 2025HME News Staff
CINCINNATI – Quipt Home Medical has reported revenue of $61.4 million for the first quarter of fiscal year 2025, a 2% increase compared to the same period last year. The company says its revenue was reduced by about $1.5 million for the three months ended Dec. 31, 2024, vs. the same period in 2023 due to:
Discontinued 75/25 blended Medicare reimbursement rates for certain areas
Withdrawal of Medicare Advantage members due to a capitated agreement with other providers
Discontinued...
In brief: Quipt ‘evaluates’ opposition, Henry Schein gets funding, Estrella steps up
January 31, 2025HME News Staff
CINCINNATI — Quipt Home Medical has acknowledged receiving notice from Philotimo Fund, an entity affiliated with Kanen Wealth Management and David L. Kanen, of its intent to solicit proxies in support of four director candidates in opposition to the company’s candidates.
The company says its board and the Nominating and Corporate Governance Committee of the board will thoroughly review and evaluate KWM’s notice and any additional requests for compliance with its established...
Quipt ‘evaluating’ opposition to board candidates
January 31, 2025HME News Staff
CINCINNATI — Quipt Home Medical has acknowledged receiving notice from Philotimo Fund, an entity affiliated with Kanen Wealth Management and David L. Kanen, of its intent to solicit proxies in support of four director candidates in opposition to the company’s four candidates.
The company says its board and the Nominating and Corporate Governance Committee of the board will thoroughly review and evaluate KWM’s notice and any additional requests for compliance with its established...
Investor to oppose Quipt board nominees
January 29, 2025HME News Staff
NEW YORK – Philotimo Fund, LP, an entity affiliated with Kanen Wealth Management, LLC and David L. Kanen filed notice with the U.S. Securities and Exchange Commission on Jan. 25 that it intends to oppose Quipt Home Medical’s four director candidates to the board and solicit proxies in support of four other director candidates. Philotimo stated its intention to solicit proxies for the election of Selim Bassoul, Jack Feidor, Garrett Larson and Edward Smith as nominees to be elected to the...
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...