LAFAYETTE, La., May 06, 2025 (GLOBE NEWSWIRE) — Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ: VMD), an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, announced that it has entered into a definitive agreement to acquire Illinois-based Lehan’s Medical Equipment (“Lehan”), a healthcare company offering home medical equipment with specialties in respiratory care and women’s health.
“Operating for nearly 80 years, Lehan has established a well-deserved reputation for its expertise in home medical equipment with a particular emphasis on women’s health and a deep commitment to community engagement,” said Viemed Chief Executive Officer Casey Hoyt. “Lehan gives us a strong platform to execute our growth strategy in a large and fast-growing market with very familiar products. The acquisition also diversifies our product mix into maternal health that we expect to extend to our existing payer relationships across the country. This is a highly motivated and experienced team that has created tremendous brand equity, and we are pleased to join forces with them.”
Founded in 1946 and headquartered in DeKalb, Illinois, Lehan’s Medical Equipment is a family-owned healthcare provider offering home medical equipment and products for women’s health, including breast pumps. The organization specializes in promoting wellness through a variety of healthcare services. Lehan also provides rental, sales, and resupply of CPAPs and other respiratory devices, as well as sales of other medical equipment. Lehan currently has three full-service locations in the Northern Illinois area and three sleep/CPAP set up locations in the West Chicagoland area, including one in Wisconsin. Owners Jim and Jon Lehan and the more than 90 employees of the organization will join Viemed upon the completion of the transaction.
In 2024, Lehan generated net revenues of approximately $25.7 million and Adjusted EBITDA of approximately $7.4 million. See “Non-GAAP Financial Measures” for a discussion of Adjusted EBITDA. The transaction is expected to close in the third quarter of 2025 for a base purchase price of $26 million, subject to customary net working capital adjustments and an estimated $2.2 million of contingent payments. Viemed expects to fund the acquisition through a combination of cash on hand and borrowings from its existing credit facilities.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, including non-invasive ventilators (NIV), sleep therapy, staffing, and other complementary products and services. Viemed focuses on efficient and effective in-home treatment with clinical practitioners providing therapy, education and counseling to patients in their homes using high-touch and high-tech services. Visit our website at www.viemed.com.
The M&A market for healthcare companies continues to build on STRATEGIC opportunities and a fragmented market. Consolidations along with unprecedented demand are driving scale across the continuum of care. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
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