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Quipt Home Medical Corp. (symbol: QIPT) is a rapidly growing leader in the provision of clinical respiratory equipment and services to patients. The company offers a variety of in-home monitoring equipment, supplies, and services, designed to help patients manage their health conditions effectively from the comfort of their homes.
Core Services:
- Daily and Ambulatory Aides: Providing essential daily living aids and ambulatory equipment to enhance patient mobility and independence.
- Power Mobility: Offering power mobility solutions, including electric wheelchairs and scooters, improving patients' quality of life and independence.
- INR Self-Testing: Enabling patients to conduct INR self-testing at home, ensuring regular monitoring and management of anticoagulation therapy.
- Respiratory Equipment Rental: Supplying rental respiratory equipment to patients in need of temporary or long-term respiratory support.
- Home Ventilation: Providing advanced home ventilation solutions for patients requiring continuous respiratory support at home.
- Oxygen Therapy: Offering oxygen therapy services to patients with chronic respiratory conditions, ensuring they receive the necessary oxygen levels for optimal health.
- Sleep Apnea and PAP Treatment: Delivering personalized sleep apnea solutions, including Positive Airway Pressure (PAP) devices, to help patients achieve better sleep and overall health.
Quipt Home Medical Corp. has demonstrated strong financial performance, as evidenced by its recent report of an Adjusted EBITDA margin of 23.5% for Fiscal Q4 and 22.8% for the Fiscal Year 2023. This underscores the company's efficient operations and growing profitability.
Additionally, the company continues to expand its reach and impact through strategic partnerships and innovative projects. With a focus on improving patient outcomes and enhancing the quality of in-home healthcare services, Quipt Home Medical Corp. remains committed to its mission of providing accessible, high-quality healthcare solutions.
For the latest updates, financial performance, and detailed information, visit Quipt Home Medical Corp.
Quipt Home Medical Corp. has acquired Hometown Medical, LLC in Mississippi, expanding its operations significantly. The acquisition, which adds two locations and over 11,000 active patients, is projected to boost annual revenues by approximately $7 million and increase Adjusted EBITDA by $1.4 million post-integration. Quipt now serves over 200,000 active patients and boasts a network of over 21,600 referring physicians. This strategic move targets patients suffering from Chronic Obstructive Pulmonary Disease (COPD), capitalizing on high demand in the region.
Quipt Home Medical Corp. has acquired Access Respiratory Homecare, enhancing its position in the home medical equipment industry. This strategic acquisition adds approximately $6.5 million in annual revenues and an estimated $1.3 million in Adjusted EBITDA post integration. With this acquisition, Quipt expands its referring physician network to over 20,600 and increases its active patient base to over 190,000. Quipt is also reiterating its annual run-rate revenue outlook for 2022 at $180-$190 million.
Quipt Home Medical Corp. (NASDAQ:QIPT) has acquired NorCal Respiratory, enhancing its presence in California with three new locations. This acquisition is expected to add approximately $3.2 million in annualized revenues and $650,000 to Adjusted EBITDA post-integration. Quipt's active patient count will increase to around 184,000, supported by a network of over 19,600 physicians. The deal, valued at approximately $3.1 million in cash, aligns with Quipt’s growth strategy focused on respiratory care, particularly in regions with a high prevalence of COPD.
Quipt Home Medical Corp. (NASDAQ:QIPT) announced its preliminary inclusion in the Russell Microcap Index, effective June 27, 2022. This milestone is expected to enhance the Company’s visibility within the investment community as it aims to grow in the home respiratory care market. CEO Greg Crawford highlighted that this membership reflects Quipt's substantial growth and strategic positioning. The Russell Microcap Index is recognized by investment managers, with $12 trillion in assets benchmarked against it, potentially driving investment towards Quipt.
Quipt Home Medical Corp. (NASDAQ:QIPT) reported a 38% revenue growth year-over-year, reaching $33.6 million for Q2 2022, and a 31% increase in adjusted EBITDA of $7.0 million. The company's net income turned positive at $5 million compared to a loss of $12.5 million a year earlier. With a 77% recurring revenue rate and a solid patient base growth of 37%, management projects an annual run-rate revenue of $180-$190 million by the end of 2022.
Additionally, several acquisitions have bolstered its market presence.
Quipt Home Medical Corp. (NASDAQ: QIPT) will host its Fiscal Q2 2022 earnings conference call on May 17, 2022, at 10:00 a.m. (EST). This event highlights the company's commitment to transparency and investor engagement. The call will be accessible via audio webcast on their investor website. Quipt focuses on providing in-home monitoring and disease management services for chronic conditions, aiming to expand their service offerings while increasing annual revenue per patient. For more details, visit their website.
Quipt Home Medical Corp. has announced a significant national insurance contract with one of the top five health insurers in the U.S., marking a pivotal moment in its growth strategy. This contract facilitates entry into new states, enhancing their operational reach and patient access. CEO Greg Crawford emphasized the contract's potential for accelerating their expansion and capturing patient volume, while also indicating plans to pursue additional national contracts to further strengthen their business model and service offerings.
Quipt Home Medical Corp. (NASDAQ:QIPT) has acquired Good Night Medical, enhancing its operational footprint in seven U.S. states. The $7 million cash transaction is projected to add $7.5 million in annualized revenues and $1.5 million in adjusted EBITDA (20% margin) post-integration. This acquisition brings over 10,000 active patients, contributing to Quipt's total of approximately 180,000. The move allows Quipt to expand its market presence in states with high COPD prevalence and leverage synergistic opportunities across existing operations.
Quipt Home Medical Corp. (NASDAQ: QIPT) announced its participation in the Sidoti Virtual Investor Conference on March 23-24, 2022. The management team will host a webcasted presentation at 9:15 AM EST on March 23. The live event will be available on the company's investor website and can be replayed afterward. CEO Greg Crawford highlighted the company's growth strategy, focusing on operational execution and integration of acquired assets, with plans for continued expansion through acquisitions. The company aims to enhance shareholder value by improving in-home monitoring services for chronic conditions.
Quipt Home Medical (NASDAQ:QIPT) reported a 30% increase in revenue for Q1 2022, reaching $29.5 million, compared to $22.8 million in Q1 2021. Adjusted EBITDA grew 16% year-over-year, totaling $6 million with a margin of 20.3%. Recurring revenue comprised 77% of total revenue. The company has a backlog of 8,000 patients awaiting sleep device setups, anticipating a revenue lift later in 2022. Cash flow from operations surged 90% year-over-year, reaching $5.3 million. The outlook for 2022 remains strong, with projected annual revenues of $180-$190 million.
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