Quipt Home Medical Corp Stock Price, News & Analysis

Quipt Home Medical (NASDAQ: QIPT) has rejected an unsolicited, non-binding proposal from Forager Capital Management (FCM) to acquire all outstanding shares at $3.10 per share. The Board highlights that this offer is 26% lower than FCM's January 2025 proposal of $3.90 per share, which was also rejected for undervaluing the company.

Since January, Quipt has made significant acquisitions, including a $6.6 million revenue medical equipment provider and a 60% stake in Hart Medical Equipment, adding $60 million in revenue and $7 million in Adjusted EBITDA. The Board criticizes FCM's tactics, including failure to disclose the January proposal in SEC filings and bypassing proper communication channels through Truist Securities.

The Board remains open to engaging with FCM under proper confidentiality agreements but emphasizes its commitment to maximizing long-term shareholder value.

Quipt Home Medical (NASDAQ: QIPT) has announced a strategic joint venture with three major health systems to acquire a 60% ownership stake in Hart Medical Equipment for $17-18 million. Hart generates $60 million in revenue and $7 million in Adjusted EBITDA, with 29 locations across Michigan and Ohio serving over 67,000 patients monthly.

The transaction marks Quipt's entry into Michigan and expands its presence in Ohio, bringing the company's expected annualized run-rate revenue to $300 million. The remaining 40% interest will be held by healthcare partners including Henry Ford Health, McLaren Health Care, and Blanchard Valley Health System. The deal embeds Quipt into the discharge processes of more than 19 hospitals and affiliated care facilities.

The transaction is expected to close by the end of Fiscal Q4 2025, with management anticipating Adjusted EBITDA margins to align with historical corporate averages within three quarters post-closing.

Quipt Home Medical (NASDAQ: QIPT) reported its fiscal Q3 2025 results, showing signs of stabilization with a return to positive quarter-over-quarter organic growth of 1.6%. Revenue reached $58.3 million, down 4.1% year-over-year, while Adjusted EBITDA was $13.7 million (23.5% of revenue).

The company maintained strong recurring revenue at 81% of total revenue and served 151,000 unique patients. Post-quarter, Quipt acquired a DME provider from Ballad Health for $6.6 million in annual revenue, expanding its presence across four branch locations and securing a Preferred Provider Agreement with access to 20 hospitals.

Despite posting a net loss of ($3.0 million), the company maintains a healthy balance sheet with a Net Debt to Adjusted EBITDA leverage ratio of 1.5x and total credit availability of $35.3 million.

Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S.-based home medical equipment provider specializing in respiratory care, has scheduled its fiscal Third quarter 2025 financial results announcement for August 11, 2025, after market close.

The company will host a conference call for investors on August 12, 2025, at 10:00 a.m. ET. CEO Gregory Crawford and CFO Hardik Mehta will lead the call, which will be accessible via toll-free numbers for Canada/US participants and through a live webcast on the company's investor relations website.

Quipt Home Medical (NASDAQ: QIPT) has announced a strategic acquisition of a durable medical equipment (DME) provider owned by Ballad Health for $1.6 million plus accounts receivable and inventory value. The acquired company generated $6.6 million in revenue for fiscal year 2025 and serves over 12,500 patients annually through four locations in East Tennessee and Southwest Virginia.

Alongside the acquisition, Quipt secured a Preferred Provider Agreement with Ballad Health, covering 20 hospitals across four states. This partnership provides immediate post-acute referral access and serves a region with a projected 10.2% growth in senior population by 2028. The acquisition is expected to achieve Quipt's historical Adjusted EBITDA margins within two quarters through operational efficiencies and clinical workflow integration.

Forager Capital Management, a major shareholder of Quipt Home Medical Corp (NASDAQ:QIPT), is demanding Quipt retract its May 21 press release that characterized Forager's $3.10 per share acquisition offer as 'unsolicited.' Forager argues that the Chairman of Quipt's Board invited them to make an offer via email on May 15, 2025, and they acted in accordance with their Non-Disclosure and Standstill Agreement. Forager claims Quipt is misusing the Agreement to portray them negatively while preventing disclosure of material facts to shareholders. They are requesting immediate termination of the Agreement to allow shareholders to evaluate value-enhancing offers.

Quipt Home Medical (NASDAQ: QIPT) has received an unsolicited acquisition proposal from Forager Capital Management (FCM) to acquire 100% of the company's shares at $3.10 per share. The company notes that this proposal violates a previously established Non-Disclosure and Standstill Agreement dated February 1, 2025, which prohibits Forager from proposing acquisitions for six months without prior Board approval. The Board confirms that it did not provide any prior written approval for waiving the confidentiality or standstill provisions. Quipt, a U.S.-based home medical equipment provider specializing in respiratory care, states it's only acknowledging the proposal due to Forager making it public and doesn't intend to comment further unless legally required.

Quipt Home Medical (NASDAQ: QIPT) reported its fiscal Q2 2025 results, showing mixed performance. Revenue decreased 6% to $57.4 million compared to Q2 2024, while Adjusted EBITDA was $13.4 million (23.3% of revenue), down 10% year-over-year. The company reported a net loss of $3.0 million ($0.07 per share). Revenue decline was attributed to Medicare Advantage member withdrawal and a non-renewed disposable supply contract. Despite challenges, operational metrics showed resilience with 146,000 unique patients served and 203,000 set-ups/deliveries completed. The company maintains a strong financial position with $17.1 million cash on hand and total credit availability of $30.7 million. Strategic initiatives include launching two new De Novo sites in Florida and Alabama, introducing a new Medicare-approved airway clearance device, and implementing the Quipt Sales Accelerator program to enhance performance.

Quipt Home Medical, a leading U.S. based home medical equipment provider specializing in end-to-end respiratory care, has scheduled its fiscal Second quarter 2025 financial results announcement for May 12, 2025, after market close.

The company's leadership team, including CEO Gregory Crawford and CFO Hardik Mehta, will host a conference call for the investment community on May 13, 2025 at 10:00 a.m. ET. Investors can join via:

• Canada/US Toll Free: 1 (833) 752 3722
• International: 1 (647) 846 8549

A live webcast will be available through the investor section of Quipt's website at www.quipthomemedical.com.