Quipt Home Medical Corp - QIPT STOCK NEWS

Quipt Home Medical Corp. (NASDAQ:QIPT) has announced a contract with Cardinal Health for supplying disposable medical supplies nationwide. This partnership aims to enhance Quipt's distribution channels across its 94 locations, decrease costs, and facilitate the expansion of its healthcare services. The contract is expected to leverage existing national insurance agreements and provide synergies for future acquisitions, boosting Quipt's market presence. The CEO expressed optimism about the contract's potential to drive growth in 2022 and beyond.

Quipt Home Medical Corp. (NASDAQ: QIPT) has announced a webcasted presentation scheduled for August 11, 2022, as part of the 42nd Annual Canaccord Growth Conference. The conference will take place in-person at the InterContinental Boston from August 8th to 11th. During the presentation, management will discuss the company’s focus on end-to-end respiratory care and strategies for expanding its offerings in chronic disease management. The live webcast can be accessed through Quipt's investor website, with a replay available afterward.

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.