Quipt Home Medical announces multi-state acquisition

Quipt Home Medical announces that it has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of approximately $9 million with anticipated Adjusted EBITDA of $2 million post integration. As a reminder all financial figures stated are in USD. The acquisition adds scale with ten locations across three states, 17,500 active patients, 1,900 unique referring physicians, important insurance contracts, and decades of operating experience in the markets served. The operating footprint aligns closely with regions that have a high prevalence of Chronic Obstructive Pulmonary Disease, a key target patient group. The Company is pleased to share the following updated metrics on a consolidated basis taking into consideration the acquisition disclosed herein: 287,500 current active patients; 34,400 referring physicians; 125 locations across 26 U.S. States. “The completion of this transaction demonstrates our ongoing patience and discipline as it relates to our capital allocation approach. At favorable terms, we were able to significantly expand in three attractive existing states. Given that there are more than 1.5 million COPD patients residing in Mississippi, Texas and Louisiana, we increase our footprint in those three states,” said Greg Crawford, Chairman and CEO of Quipt. “Our team of operators will once again utilize our tried-and-true integration approach to efficiently integrate this business onto our existing platform, continuing to build scale across the organization. Moreover, we believe there is an opportunity to leverage our resupply program immediately, creating actionable revenue synergies for us. Additionally, the substantial patient base and excellent referral network we have built up in these three states allow us to take a “land and expand” approach to future growth, which will support our organic growth goals.”