- Quipt Home Medical Corp. (QIPT) has acquired Hometown Medical,
- The acquisition of Hometown Medical adds over 1,000 referring physicians, bringing Quipt’s referring network base to over 21,600
- Since April 2022, the company has closed 4 acquisitions, which added over 30,000 active patients, over $25 million in revenue and over $4.5 million of EBITDA
- Quipt Home Medical Corp. provides in-home monitoring and disease management services
- Quipt Home Medical Corp. opened the day’s trading at C$6.25 per share
Quipt Home Medical Corp. (QIPT) has acquired Mississipi-based Hometown Medical.
The acquisition will increase Quipt’s annual revenues by approximately US$7 million and is expected to increase Quipt’s Adjusted EBITDA, post integration, by US$1.4 million.
The newly acquired organization has two locations in Mississippi, which has doubled doubled Quipt’s current location count in the state, immediately expanding its footprint providing additional patient accessibility.
The acquisition of Hometown Medical adds over 1,000 referring physicians, bringing Quipt’s referring network base to over 21,600. This also increases Quipt’s active patient count by over 11,000, bringing Quipt’s total to over 200,000 active patients.
Hometown Medical has a heavily weighted respiratory product mix at approximately 60 per cent, with an opportunity for Quipt to build out a strong ventilation therapy program and integrate a best-in-class subscription-based resupply program acting as an immediate potential revenue synergy.
The acquisition will increase Quipt’s annual revenues by approximately $7 million and is expected to increase Quipt’s Adjusted EBITDA post-integration by $1.4 million.
“We are extremely delighted to close the acquisition of Hometown Medical, providing us a meaningful expansion opportunity in the state of Mississippi,” stated Greg Crawford, Chairman and CEO of Quipt.
“We believe there is opportunity to leverage our ventilation and resupply program immediately, potentially creating actionable revenue synergies for us,” he added.
Since April 1st, 2022, the company has closed four attractive acquisitions, which added over 30,000 active patients, over $25 million in revenue and over $4.5 million of Adjusted EBITDA post integration.
Quipt Home Medical Corp. provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market.
Quipt Home Medical Corp. opened the day’s trading at C$6.25 per share.
