- Quipt Home Medical (QIPT) has acquired Great Elm Healthcare, a division of Great Elm Group
- Great Elm operates a complete line of respiratory-related durable medical equipment service locations across eight U.S. states
- This acquisition establishes Quipt as a leading respiratory-focused home medical equipment suppliers in the U.S. with significant scale
- Quipt Home Medical is a U.S.-based home medical equipment provider
- Quipt Home Medical (QIPT) was up 9.831 per cent, trading at $7.15 per share
Quipt (QIPT) has acquired Great Elm Healthcare, a division of Great Elm Group.
Great Elm operates a complete line of respiratory-related durable medical equipment service locations across eight U.S. states.
Based on an independent quality of earnings report, Great Elm Healthcare had unaudited revenues for the 12 months ended August 31, 2022 of $60 million with an adjusted EBITDA of $13 million.
This acquisition establishes Quipt as a leading respiratory-focused home medical equipment supplier in the United States with significant scale, serving 270,000 patients with 32,500 referring physicians across 115 locations in 26 states.
Quipt and Great Elm have a combined annualized revenue and annualized adjusted EBITDA of $220 million and $47 million, respectively, based on Quipt’s reported audited results for the fourth quarter ended September 30, 2022, and Great Elm’s unaudited results for the 12 months ended August 31, 2022.
“We are extremely thrilled to start 2023 with the milestone acquisition of Great Elm Healthcare, which gives us significant coast-to-coast presence across the United States and firmly establishes Quipt as one of the top clinical at-home respiratory providers in the nation,” stated Greg Crawford, Chairman and CEO of Quipt.
“Great Elm represents a true platform investment for Quipt and provides us with the opportunity to serve pulmonary and neurological disease states by utilizing the patient-centric ecosystem we have built focused on ventilation therapy, oxygen therapy and sleep therapy,” he added.
Quipt Home Medical is a U.S.-based home medical equipment provider focused on end-to-end respiratory care.
Quipt Home Medical (QIPT) was up by 9.831 per cent, trading at $7.15 per share at 1:25 pm ET.