Buyer: Quipt Home Medical
Seller: At Home Health Equipment
Sector: Medical Supply
Keywords: Quipt Home Medical, At Home Health Equipment, Medical Supply, Greg Crawford
Quipt Home Medical has acquired At Home Health Equipment, an Indiana-based provider with unaudited trailing 12-month annual revenues of about $13 million and net income of $1.6 million.
Quipt says the acquisition creates its single largest market from a revenue standpoint: Indianapolis.
“This is a significant acquisition as it creates the largest single market for us in a very attractive region, allowing us the ability to strengthen our overall interconnected health care network in the state of Indiana,” said Greg Crawford, chairman and CEO of Quipt. “This acquisition is very powerful as it services the significant metro hub of Indianapolis, and we plan on quickly integrating their business operations and leveraging Quipt’s payer contracts across our existing Midwest locations.”
The acquisition adds more than 15,000 patients to Quipt’s active patient count.
It also opens a new vertical for Quipt: hospice. Thirty percent of At Home’s business stems from exclusive contracts in that segment.
“We are also excited to enter the hospice segment and we will strategically work to build this vertical out over the course of 2022,” Crawford said.
The M&A market for healthcare companies continues to strengthen in 2022 ahead of projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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