Providers
Henry Schein expands supplies platform with Acentus
November 20, 2024HME News Staff
MELVILLE, N.Y. - Henry Schein has signed an agreement to buy Tampa, Fla.-based Acentus, a national supplier specializing in delivering continuous glucose monitors (CGMs) with $35 million in annual revenue.
Along with its previous acquisitions of Prism Medical Products in 2021 and Shield Healthcare and Mini Pharmacy in 2023, Henry Schein now expects its home medical supply platform to have annual revenue of about $35 million.
“As the delivery of health care in the U.S. is increasingly...
Williams Brothers announces succession plan
November 11, 2024HME News Staff
WASHINGTON, Ind. - Williams Brothers Healthcare Pharmacy has announced Charles C. “Clay” Williams III, a fifth-generation pharmacist, as its next CEO.
With roots back to his great, great, grandfather in 1899, Clay Williams takes the position previously held by his father Charles C. (C.C.) Williams II and his uncle Mark Williams.
“It is a great honor to be named the CEO of Williams Bros. Healthcare Pharmacy,” Clay Williams said. “I intend to use the...
AdaptHealth targets diabetes business for improvement
November 8, 2024Theresa Flaherty, Managing Editor
PLYMOUTH MEETING, Pa. – AdaptHealth CEO Suzanne Foster is doubling down on efforts to turn around the company’s struggling diabetes business, saying it was “worse” than she initially thought it was.
The product category, which makes up 17% of the AdaptHealth’s revenues, declined 11.8% during the third quarter, following a worse than expected performance during the second quarter.
“Following last quarter's results, I turned my attention to...
Owens & Minor leans on services as it grows supplies biz
November 6, 2024Theresa Flaherty, Managing Editor
RICHMOND, Va. – Diabetes continued to lead the way in growth for Owens & Minor in the third quarter of 2024, but sleep and other supply categories are also showing signs of strength due to the company’s “relentless” focus, said CEO Edward Pesicka.
This year, the company “tore apart” its process for onboarding and managing sleep patients, for example, to make it easier and faster, he said.
“We have to have an impeccable service,”...
AdaptHealth’s revenues are static in Q3
November 5, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported third quarter net revenue of $805.9 million compared to $804 million, an increase of 0.2% year over year.
Net income attributable to AdaptHealth was $22.9 million vs. a net loss of $454.1 million. Adjusted EBITDA was $164.3 million vs. $161.2 million, an increase of 1.9%
“I continue to be optimistic about the road ahead,” said Suzanne Foster, CEO. “We have identified growth opportunities, we are assembling a high...
Owens & Minor sees ‘solid top-line results’
November 4, 2024HME News Staff
RICHMOND, Va.– Owens & Minor reported consolidated revenue of $2.7 billion in the third quarter of 2024, an increase of 5% year over year.
Of that, the company’s Patient Direct business had revenue of $687 million, up 6%, driven by strength in several categories, led by diabetes and sleep supplies. Adjusted EBITDA was $142 million, up 5%; and total debt reduction was $198 million.
“Our third quarter results demonstrated our ability to deliver on our commitments...
Leaders urge industry to pull together and ‘push back’
October 25, 2024Theresa Flaherty, Managing Editor
PORTLAND, Maine – The 20th annual HME News Business Summit brought together business leaders for a frank discussion on the strides the industry has made and the work that still lies ahead.
“The industry has made some strides with data and having the ability to capture those numbers took a big leap forward in the last three years,” said Casey Hoyt, CEO of Viemed Healthcare. “Creating events like this, sharing ideas is (good for the industry). We want to see more access...
Owens & Minor, Rotech receive second request from FTC
October 15, 2024HME News Staff
RICHMOND, Va. – Owens & Minor and Rotech Healthcare on Oct. 11 each received a request for additional information and documentary materials from the Federal Trade Commission in connection with its review of the merger of the two companies.
The effect of a second request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after each of the companies has substantially complied with the second request issued to...
At PHM – and in HME – Mastrovich sees opportunity
October 11, 2024Theresa Flaherty, Managing Editor
KENT, Wash. – With more than three decades under his belt, Larry Mastrovich, the new CEO of Performance Home Medical, has seen the HME industry weather many challenges – and he remains optimistic about its future.
“The industry has endured a lot of headwinds, and now I think we’ve started to see a little tailwind,” said Mastrovich, who previously held executive roles at Breathe Technologies, a medical device manufacturer, and Apria Healthcare. “I think...
World Oxygen Day highlights reimbursement, policy setbacks
October 11, 2024Theresa Flaherty, Managing Editor
MIAMI – All humans need oxygen, but for those who need equipment to breathe, it can be harder to access than it needs to be, says Mike Hess, MPH, RRT, RPFT, senior director of advocacy and regulatory affairs for the COPD Foundation, which hosted its second World Oxygen Day on Oct. 2.
“We’ve seen massive contraction in the DME space, and we’ve seen a lot of other barriers and that has translated into suboptimal use of oxygen therapy,” he said. “On a global...