Tag: Viemed Healthcare

LAFAYETTE, La. - Viemed Healthcare has successfully completed its previously announced acquisition of Tennessee based Home Medical Products, a large regional provider of respiratory focused home medical solutions. “I’m incredibly proud to welcome the HMP team to the Viemed family,” said Casey Hoyt, CEO of Viemed. “Both organizations share a culture that focuses on high quality patient interaction in the home driven by clinical excellence and supported by technology. Today,...

LAFAYETTE, La., - Viemed Healthcare will acquire Tennessee based Home Medical Products, a large regional provider of respiratory focused home medical solutions.  “We are incredibly excited to complement our strong history of organic growth by combining great teams through accretive transactions” said Casey Hoyt, Viemed CEO. “The purchase of HMP will launch our acquisition growth initiatives with a stellar organization that has an extraordinary reputation with patients, payors...

LAFAYETTE, La., - Viemed Healthcare, Inc. will acquire Tennessee-based Home Medical Products, Inc., a large regional provider of respiratory focused home medical solutions.  “We are incredibly excited to complement our strong history of organic growth by combining great teams through accretive transactions” said Casey Hoyt, Viemed CEO. “The purchase of HMP will launch our acquisition growth initiatives with a stellar organization that has an extraordinary reputation with...

LAFAYETTE, La. – Viemed Healthcare’s various lines of business are “clicking on all cylinders,” as the company seeks to ramp up organic growth, say execs.  To do that, Viemed is further diversifying its product offerings and reducing its reliance on ventilators. In the fourth quarter of 2022, vents comprised approximately 66% of the company’s core revenue vs. 76% in the fourth quarter of 2021.  “Staffing is rolling, CPAPs are rolling, oxygen's...

WASHINGTON – The DME MACs have released the updated LCD and policy article for continuous glucose monitors (CGMs), finalizing expanded coverage.     To be eligible for coverage of a CGM and related supplies, the beneficiary must meet all of the following initial coverage criteria (1)-(5):  The beneficiary has diabetes mellitus (Refer to the ICD-10 code list in the LCD-related Policy Article for applicable diagnoses); and,  The beneficiary’s treating...

LAFAYETTE, La. – Viemed Healthcare reported net revenue of $37.5 million for the fourth quarter, a 30% increase over the same quarter in 2021, and $138.8 million for full year 2022.  Net income for the quarter and year totaled $2.4 million and $6.2 million, respectively. Adjusted EBITDA totaled approximately $9.3 million and $30 million, respectively.  “Our favorable resolution of the OIG matter, debt free balance sheet and access to $90 million of additional liquidity...

LAFAYETTE, La. – Viemed Healthcare’s recent victory at the administrative law judge level of the Medicare appeals process is as much a win for the company as the HME industry, says CEO Casey Hoyt.  Earlier this month, an ALJ judge ruled in favor of Viemed, overturning all remaining disputed claims for non-invasive ventilation related to the findings of an Office of Inspector General report and ordering CMS to return 100% of the previously remitted funds to the company.  “DME...

AFAYETTE, La. – An Administrative Law Judge has ruled in favor of Viemed Healthcare, overturning all remaining disputed claims for equipment services, related to findings from the Office of Inspector General.   As a result, Medicare Administrative Contractors returned 100% of the previously remitted funds to Viemed.  “We are extremely pleased with the judge’s decision in this matter, which reaffirms the high integrity of our clinical protocols and sets the record...

LAFAYETTE, La. – Viemed Healthcare has made a strategic investment in ModoHealth, a value-based care and patient management platform connecting payers, patients and post-acute providers.  ModoHealth expects to use the proceeds of the investment to fund the expansion of its proprietary patient management network, which combines clinical tools, remote patient monitoring, data analysis and patient-centric engagement.  “We are incredibly excited to partner with the team at...

LAFAYETTE, La. – Viemed Healthcare has entered into new syndicated credit facilities consisting of a five-year senior secured revolving credit facility of up to $30 million and a five-year delayed draw term loan facility of up to $30 million, which may be borrowed in multiple drawdowns. The new credit facilities contain an accordion feature that allow the company to increase the size of the facilities by up to $30 million, subject to certain conditions, for a total borrowing capacity of up...