- Quipt Home Medical (TSX:QIPT) has acknowledged a hostile takeover proposal from Forager Capital Management at C$3.10 per share
- Quipt specializes in in-home monitoring and disease management services in the United States healthcare market
- Quipt Home Medical stock has given back 30.72 per cent year-over-year and 28.57 per cent since 2020
Quipt Home Medical (TSX:QIPT), a US home medical equipment provider focused on respiratory care, has acknowledged a hostile takeover proposal from Forager Capital Management at C$3.10 per share.
The acknowledgement, prompted by Forager’s public bid, follows a non-disclosure and standstill agreement from February 1, 2025, under which Forager agreed to abstain from acquiring Quipt equity or assets for six months without approval from the company’s board.
According to Wednesday’s news release, Quipt’s board did not authorize Forager to break confidentiality or issue the non-binding proposal.
“The board remains focused on the best long-term interests of the company to drive sustainable value for its shareholders,” the news release goes on to state, with financial and legal advisory ongoing, though no further comments on the proposal will be issued unless required by law.
Quipt more than tripled revenue from US$72.64 million in 2020 to US$245.94 million in 2024, generating positive operating income in 4 of 5 years over the period. Net income, however, has been elusive, with the company posting a positive number under the metric in only one year since 2020.
About Quipt Home Medical
Quipt specializes in in-home monitoring and disease management services in the United States healthcare market.
Quipt Home Medical stock (TSX:QIPT) last traded at C$3. The stock has given back 30.72 per cent year-over-year and 28.57 per cent since 2020.
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