Tag: Acquisition

LAFAYETTE, La. – Viemed Healthcare has doubled its patient count since the pandemic started and has inventory on the shelves “ready to go for future growth,” company execs said on a recent earnings call.  The bulk of those new patients are sleep patients, thanks to Viemed’s patient acquisition strategy, says CEO Casey Hoyt.  “Rather than going out and spending the money on buying distressed companies, we wanted to go out and really capture those patients...

LAFAYETTE, La. – Viemed Healthcare has added Michael Freeman as chief business development officer and Jeremy Trahan as chief legal officer and executive vice president of acquisitions and strategic transactions. Prior to joining Viemed, Freeman and Trahan were executives at LHC Group, where they directed and were integrally involved in more than 100 transactions valued at about $1.9 billion collectively. “We are thrilled to expand our team of extremely talented executives by welcoming...

CLEVELAND – Medical Service Company has acquired Ascension St. Vincent’s Medical Equipment, a full-service DME provider located in Evansville, Ind.  “As part of this exciting acquisition, MSC has expanded its partnership with Ascension from Central Indiana now down to Evansville,” the company stated in an announcement. “We are also thrilled to welcome the new team members joining the MSC family. We look forward to offering our industry-leading chronic care solutions...

CINCINNATI – Quipt Home Medical recently acquired a company with operations in Missouri for about $2.25 million in cash, adding three locations, 15,000 active patients, and 1,500 unique referring physicians.  The acquired company reported unaudited trailing 12-month annual revenues of about $5.5 million and an expected adjusted EBITDA of $1.1 million.  “We continue to focus on strategic acquisitions that help to build our footprint across the United States,” said...

NORTHFIELD, Ill. – Medline plans to acquire a significant portion of the Hudson RCI brand of respiratory products from Teleflex, in a bid to strengthen its offerings in light of the COVID-19 pandemic.  Hudson RCI’s oxygen and aerosol therapy, active humidification and pulmonary hygiene products will complement Medline’s respiratory portfolio; will add two manufacturing facilities in Arlington Heights, Ill., and Nuevo Laredo, Mexico; and will add 1,000 employees.  “Hudson...

PHOENIX – AZ MediQuip has received funding from private equity partner Gemini Investors to open new stores across the Southwest and make strategic acquisitions.  Mark Nicotera, who started AZ MediQuip in 2011 and has grown the company to four locations in the Phoenix area, will remain CEO.  “When I started this business, there was a deep need for not just a business to sell HME products, but to also offer complete home medical solutions,” he said. “Our...

Q. Is the timing right to sell my business?  A. This question sparked my interest because on the night of Dec. 21, 2020, the winter solstice, Jupiter and Saturn will form the “Great Conjunction.” They will be in alignment closer together – just 0.1 degree apart – than they have been in nearly 800 years. (They align every 20 years or so, but this is the closest.)  Only you and your adviser can assess your specific timing, but several “planets”...

BRENTWOOD, Tenn. - Numotion has expanded into Amarillo, Texas, with the acquisition of the complex rehab division of BritKare. “Numotion is proud to continue to grow our reach in Texas with this investment in BritKare,” said Mike Swinford, Numotion CEO. Founded in 1995, BritKare has been serving the mobility needs of customers in the areas surrounding Amarillo and Lubbock, Texas, for more than 25 years. The company's employees, including four assistive technology professionals, will...

PLYMOUTH MEETING, Pa. - AdaptHealth reported net revenue of $149.5 million for the fourth quarter ended Dec. 31, 2019, a 38% increase over the same period last year. The provider reported a net loss of $3.4 million for the quarter, including $5.3 million of equity-based compensation and $7.8 million of transaction costs, primarily related to the merger with DFB. For 2019, AdaptHealth reported net revenue of $529.5 million, a 53% increase. It reported a net loss of $15 million for the year,...

NASHVILLE, Tenn. - Permobil has a new website that features its entire product portfolio—not only power wheelchairs, but also seating and positioning products, and manual wheelchairs—in one place. The manufacturer has beefed up its product portfolio with the acquisitions of The Roho Group in 2015 and TiLite in 2014. “We will better serve our clients by showing our full line of rehabilitation products on the new website, all in one place,” said Larry Jackson, president of Business...