- Quipt Home Medical Corp. (QIPT) has acquired Access Respiratory Homecare LLC.
- This increases Quipt’s annual revenues by US$6.5 million and its adjusted EBITDA by US$1.3 million
- Quipt’s 2022 annual revenue will now reach US$190 million
- The acquisition covers two locations in Louisiana, being the 19th state serviced by Quipt
- Quipt Home Medical Corp. (QIPT) is up 2.68 per cent trading at $6.14 per share as of 3:24 p.m. ET
Quipt Home Medical Corp. (QIPT), a U.S. based home medical respiratory equipment provider, has acquired Access Respiratory Homecare LLC.
The acquisition will increase Quipt’s annual revenues by approximately US$6.5 million and is expected to increase its adjusted EBITDA by US$1.3 million. Based on the current operations, Quipt believes its annual run-rate revenue will reach US$190 million with US$43 million in run-rate adjusted EBITDA by the end of this year.
The acquisition covers two locations in Louisiana, the 19th state of service for Quipt and the state of service for Quipt, and it will immediately gain access to the large market of New Orleans. The company also gains access to the city of Lafayette and the surrounding areas, providing a second hub for Quipt to grow its infrastructure in the state.
The acquisition adds over 1,000 referring physicians and increases Quipt’s total active patient count to over 190,000 people. The integration process will allow Quipt’s subscription-based resupply program to be firmly cemented, with over 2,400 patients set to join the resupply program, an immediate revenue synergy.
According to Quipt, Access Respiratory Homecare has several difficult to obtain insurance contracts and work aligns closely with regions that have a high prevalence of Chronic Obstructive Pulmonary Disease, a key target patient group.
Quipt Home Medical Corp. (QIPT) is up 2.68 per cent trading at $6.14 per share as of 3:24 p.m. ET.
