Quipt Announces Revocation of Management Cease Trade Order

Rhea-AI Summary

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.

Positive

• Revocation of the management cease trade order enhances regulatory compliance.
• Continued focus on expanding service offerings for chronic disease management.
• Strategy aimed at increasing annual revenue per patient through service consolidation.

Negative

• None.

CINCINNATI, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (“Quipt” or the “Company”) (NASDAQ:QIPT; TSXV:QIPT), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that, as a result of the filing of its annual financial statements and management discussion & analysis for the financial years ended September 30, 2021 and 2020, and the CEO and CFO certificates, on January 27, 2022, the management cease trade order issued by the British Columbia Securities Commission (“BCSC”) on December 30, 2021 has been revoked by the BCSC effective January 28, 2022.

ABOUT QUIPT HOME MEDICAL CORP.

The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company’s organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient’s services, and making life easier for the patient.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please visit our website at www.Quipthomemedical.com, or contact:

Cole Stevens
VP of Corporate Development
Quipt Home Medical Corp.
859-300-6455
cole.stevens@myquipt.com

Gregory Crawford
Chief Executive Officer
Quipt Home Medical Corp.
859-300-6455
investorinfo@myquipt.com

FAQ

What is the significance of Quipt's cease trade order being revoked?

The revocation signifies that Quipt Home Medical Corp. is back in compliance with regulatory requirements, allowing it to operate without restrictions.

When was the cease trade order revoked for Quipt Home Medical Corp.?

The cease trade order was revoked effective January 28, 2022.

How does Quipt Home Medical Corp. plan to increase shareholder value?

Quipt aims to increase shareholder value by expanding its services to manage various chronic diseases and consolidating patient care.

What are Quipt's primary business focuses?

Quipt focuses on providing in-home monitoring and disease management, particularly for respiratory care and chronic health conditions.

Which financial years did Quipt file annual financial statements for?

Quipt filed annual financial statements for the fiscal years ended September 30, 2021, and 2020.