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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. (NASDAQ: QIPT) announced the appointment of Brian J. Wessel as an Independent Director and Chair of the Audit Committee. With over 34 years of experience in global client service and financial expertise, Wessel's prior role as a senior partner at Ernst & Young enhances Quipt's strategic growth plans. The board now comprises four members, three of whom are independent. Additionally, Quipt received confirmation of compliance with Nasdaq's Listing Rules, following its recent filing, solidifying its position in the market.
Quipt Home Medical Corp. (NASDAQ:QIPT) announced the revocation of a management cease trade order by the British Columbia Securities Commission (BCSC), effective January 28, 2022. This follows the filing of its annual financial statements for the fiscal years ended September 30, 2021, and 2020. Quipt specializes in home medical equipment, focusing on respiratory care and chronic disease management. The company's strategy includes expanding service offerings to generate shareholder value and improve patient care.
Quipt Home Medical Corp. (NASDAQ:QIPT) reported a 41% revenue increase to $102.4 million for fiscal year 2021. Adjusted EBITDA rose 38% to $21.4 million, with recurring revenue exceeding 77%.
Q4 revenue surged 48% year-over-year to $29.1 million, driven by strong organic growth of 14%. The company expects annual run-rate revenue of $180-$190 million by the end of 2022.
Quipt Home Medical Corp. (NASDAQ: QIPT) will host its Q4 and Full Year Fiscal 2021 earnings conference call on February 1, 2022, at 10:00 a.m. (EST). The Company specializes in in-home monitoring and disease management, focusing on respiratory care for patients with chronic health conditions. Quipt aims to expand its service offerings and enhance shareholder value by increasing annual revenue per patient through comprehensive service consolidation.
Quipt Home Medical Corp. (NASDAQ: QIPT) provided a status update regarding its Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission due to the delay in filing audited financial statements for the fiscal years ended September 30, 2021, and 2020. On January 12, 2022, Nasdaq notified Quipt that it no longer complies with its listing rules. The company has 60 days to submit a compliance plan but expects to file the necessary documents by January 28, 2022, to regain compliance and lift the MCTO.
Quipt Home Medical Corp. (NASDAQ:QIPT) announces with regret the passing of Eugene Ewing, Independent Board Member and Audit Committee Chair. Mr. Ewing contributed significantly to the company's mission of becoming a leader in respiratory care since September 2018. He brought over 30 years of experience in various executive roles. The Board is actively seeking a qualified candidate to fill the Independent Director and Audit Committee Chair positions. Quipt remains focused on its goal to enhance shareholder value through expanded service offerings in home health care.
Quipt Home Medical Corp. has announced the acquisition of At Home Health Equipment for approximately $13.1 million. This strategic purchase will enhance Quipt's revenue base, adding an estimated $13 million annually, with an anticipated Adjusted EBITDA of $2.9 million. The integration is expected to significantly expand Quipt's market presence in Indiana, particularly in the respiratory care segment, benefiting from At Home's established insurance contracts and a new customer base of over 15,000 active patients. Quipt's annual run-rate revenue is projected to exceed $180-$190 million by the end of 2022.
Quipt Home Medical Corp. (NASDAQ:QIPT) announced the approval of a management cease trade order (MCTO) by the British Columbia Securities Commission. This follows a prior announcement indicating the company would likely miss its deadline to file annual financial statements for the fiscal years ended September 30, 2021, and 2020. The MCTO prevents management from trading the Company's securities until the necessary documents are filed, which Quipt plans to do by January 28, 2022. The company is not currently facing insolvency proceedings and maintains compliance with alternative information guidelines.
Quipt Home Medical Corp. (NASDAQ:QIPT) reported record preliminary financial results for Q4 2021, with revenue between $27.6 million and $28.1 million. Adjusted EBITDA is projected at $5.3 million to $5.6 million. The company announced several acquisitions to bolster its operations, including two businesses in Mississippi and Illinois, with a combined revenue of $5.2 million and a strong outlook for 2022, anticipating annual run-rate revenue of $180-$190 million.
They face potential delays in financial audits due to Nasdaq listing requirements.
Quipt Home Medical Corp (NASDAQ:QIPT) announced it will miss the deadline of December 29, 2021, for filing its audited annual financial statements for fiscal years ending September 30, 2021, and 2020. The delay is attributed to the accelerated audit requirements following its Nasdaq listing. The Company has applied to the British Columbia Securities Commission for a Management Cease Trade Order (MCTO) prohibiting its management from trading securities until the filing is complete. There is no assurance that an MCTO will be issued, but the Company aims to file the documents by January 28, 2022.
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