Quipt Home Medical Corp SEC Filings

Forager Fund, L.P. and affiliates disclosed an amended Schedule 13D regarding Quipt Home Medical Corp. (QIPT). The filing reports beneficial ownership of 4,199,562 shares, representing 9.7% of outstanding common stock based on 43,443,972 shares. The amendment adds a non-binding Acquisition Proposal dated August 25, 2025: an all-cash offer of $3.10 per share to acquire all outstanding shares, which the filer states is a substantial premium (citing a 120% premium to an unaffected $1.41 closing price on May 19, 2025). The proposal would be funded with cash on hand, is described as not subject to due diligence, contemplates a 30-day go-shop, matching rights, and break-up fees of 3.5% (go-shop) and 5.5% (no-shop) of total purchase price. The filer says it could potentially close within 16 weeks.

Quipt Home Medical Corp. announced that on August 11, 2025 its subsidiary QHM Holdings entered an Equity Purchase Agreement to acquire a 60% membership interest in IRB Medical Equipment, LLC dba Hart Medical Equipment, a Michigan-based provider of durable medical equipment, point-of-service products, and related services. The seller will retain 40% and the company will operate as a joint venture under an amended operating agreement and an Administrative Support Services Agreement.

The purchase price equals 60% of a $35.0 million enterprise value with customary adjustments for cash (not less than $1.0 million), indebtedness, accrued payroll, certain Medicaid settlement amounts and working capital, producing an expected cash price of approximately $17.0–$18.0 million. Quipt expects to fund closing with existing cash and additional cash under its credit facility, subject to lender approval. If financing is not obtained and closing does not occur by September 30, 2025, Quipt may owe a $250,000 fee. The transaction is subject to customary closing conditions.

Quipt Home Medical Corp. announced a press release furnished on August 11, 2025 reporting its financial results for the quarter ended June 30, 2025. The filing states the press release is furnished as Exhibit 99.1 and that the information is furnished, not filed, under the Exchange Act.

The company discloses the press release includes Non-GAAP financial measures along with GAAP comparatives and reconciliations and explains management believes these measures provide useful supplemental information. The 8-K is signed by CFO Hardik Mehta and identifies Quipt as an emerging growth company incorporated in British Columbia, Canada.

Quipt Home Medical Corp. reported results for the quarter and nine months ended June 30, 2025. Revenue for the quarter was $58.3 million, down 4.1% from $60.8 million a year earlier, and nine-month revenue was $177.0 million versus $184.6 million. The company recorded a quarterly net loss of $3.0 million (basic loss per share $0.07) and a nine-month net loss of $7.2 million (basic loss per share $0.17), both larger than the prior-year periods. Adjusted EBITDA remained positive at $13.7 million for the quarter and $41.0 million for nine months.

Quipt ended the period with $11.25 million of cash and total assets of $236.1 million against total liabilities of $133.6 million. The Company was in compliance with its senior credit facility covenants and had $66.0 million principal outstanding under that facility. Management disclosed a DOJ civil investigative demand related to CPAP claims and noted the SEC concluded its inquiry in November 2024. After period end, Quipt acquired Mediserve for approximately $2.6 million. The Company performed an interim goodwill impairment test following market declines and identified no impairment.