- Quipt Home Medical (QIPT) has acquired At Home Health Equipment for $13.1 million
- Quipt’s coverage now includes all of Indianapolis, representing its largest market from a revenue standpoint
- The acquisition also adds another 15,000 patients to Quipt’s active patient count
- With the acquisition, the company’s 2022 run-rate revenue is expected to surpass $130 million
- Quipt Home Medical provides in-home monitoring and disease management services for patients in the United States
- Shares in Quipt Home Medical Corp. (QIPT) are up 2.97 per cent, trading at $7.29 per share
Quipt Home Medical (QIPT) has acquired At Home Health Equipment for $13.1 million.
A home care services company based in Indiana, At Home Health Equipment has a strong management team in place, and like Quipt, offers high-quality service, equipment, and supplies.
With the addition of At Home Health Equipment, Quipt’s coverage now includes all of Indianapolis, representing its largest market from a revenue standpoint.
At Home Health Equipment has been a leader in the respiratory home care services space for over 25 years and its insurance contracts in Indianapolis will bolster Quipt’s presence in the area.
The acquisition adds to Quipt’s active patient count by over 15,000, bringing the company’s total to approximately 170,000 active patients.
Quipt expects the addition of At Home Health Equipment to increase its annual revenues by approximately $13 million and its net income by $1.6 million. With the acquisition, the company’s 2022 run-rate revenue is expected to surpass $130 million.
“This is a significant acquisition as it creates the largest single market for us in a very attractive region,” said Quipt CEO Greg Crawford. “Our operating engine and proven ability to integrate acquired assets allows us to continue the strong pace of closing larger strategic acquisitions during this exciting growth period.”
“We are also excited to enter the hospice segment,” added Mr. Crawford, “with over 30 per cent of At Home Health Equipment’s revenue coming from this high growth area and we will strategically work to build this vertical out over the course of 2022.”
Quipt Home Medical provides in-home monitoring and disease management services for patients in the United States.
Shares in Quipt Home Medical Corp. (QIPT) are up 2.97 per cent, trading at $7.29 per share as of 11:11 am EST.
