Tag: Respiratory
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...
RoundTable Health Care now serves Outer Banks
August 15, 2024HME News Staff
BARCO, N.C. – RoundTable Health Care, a provider of home respiratory and mobility products and services, has opened a new location in Barco, N.C., to serve patients throughout the Outer Banks and surrounding areas, according to the Island Free Press. COO Joeli Olson told the newspaper the company opened a new location in Barco, because people in the area have had to travel an hour or more to larger cities like Norfolk, Va., to get services. “We are excited to be taking a locally owned...
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,...
Philips CEO: ‘We still are relevant’
July 30, 2024Liz Beaulieu, Editor
AMSTERDAM – The “pruning” that Philips has been doing in its Connected Care business, which includes Sleep & Respiratory Care, is “working,” says CEO Roy Jakobs.
In January, Philips released a list of 19 sleep and respiratory products that the company said it would stop selling in the United States, as early as that month. Among them: the EverFlo home oxygen system and the Trilogy EVO and EV300 home ventilators.
“We see the growth...
Philips Respironics to focus on masks, other consumables in US
January 25, 2024HME News Staff
AMSTERDAM – Philips Respironics has released a list of 19 sleep and respiratory products that it will stop selling in the United States as soon as this month, including the EverFlo home oxygen system and the Trilogy EVO and EV300 home ventilators.
“We have streamlined our portfolio to enable us to focus on programs that are best suited to changing market dynamics and will most effectively serve patients and customers in the future,” the company states on its website. “In...
Quipt reaches tipping point with new acquisition
September 11, 2023HME News Staff
CINCINNATI – Quipt Home Medical has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of about $ 9 million and adjusted EDITDA of $2 million post-integration.
The company says the acquisition adds scale with 10 locations, 17,500 active patients, 1,900 unique referring physicians and important insurance contracts.
“The completion of this transaction demonstrates our ongoing patience and discipline as it relates...
Quipt strengthens operational performance
August 15, 2023HME News Staff
CINCINNATI – Quipt Home Medical reported revenues were $60.3 million for the third quarter of fiscal year 2023, a 64% increase year over year and a 4% increase sequentially.
Adjusted EBITDA was $13.9 million (23% of revenues) vs. $7.7 million (21% of revenues), representing an 80% increase year over year.
“Throughout the year, our business has continued to strengthen, and we are experiencing the organic growth and margin expansion that we had been aiming for,”...
OM sees ‘power’ in Byram, Apria brands
August 9, 2023Theresa Flaherty, Managing Editor
RICHMOND, Va. – Owens & Minor execs say they remain “bullish” on the company’s Patient Direct segment, which has posted double-digit growth for four consecutive quarters, but the home respiratory category, specifically, isn’t where they’d like to see it.
Patient Direct’s revenue for the second quarter of 2023 was $633 million, up 10.5% over the same period in 2022.
“It is clear that the powerful brands of Byram and Apria are working...
VGM adds O2 Concepts to vendor network
August 1, 2023HME News Staff
WATERLOO, Iowa – VGM & Associates has signed a new vendor agreement with O2 Concepts. "Embracing progress, we proudly expand the VGM Respiratory portfolio with the addition of O2 Concepts,” said Boone Lockard, director of VGM Respiratory. “With O2 Concepts’ innovative POC portfolio and revolutionary DNA platform, we enhance our ability to meet the evolving needs of VGM members and patients. This partnership is a step forward in our commitment to delivering exceptional respiratory...
Advent Home Medical buys Med Emporium
May 23, 2023HME News Staff
CHICAGO – New Harbor Capital has announced that its portfolio company Grand Rapids, Mich.-based Advent Home Medical has acquired Charlotte, N.C.-based Med Emporium, strengthening the company’s respiratory focus and paving the way for it to expand into new geographies.
It’s Advent Home Medical’s third acquisition in partnership with New Harbor Capital, which completed a majority investment in the company in March 2021.
“We are very excited to partner...