Transaction Strengthens Health System Partnerships, Expands Midwest Footprint, and Reinforces Long-Term Growth StrategyCINCINNATI, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (“Quipt” or the “Company”) (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, today announced the closing of its previously announced joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment (“Hart”). Quipt ...

Core Viewpoint - Quipt Home Medical Corp. has received a new unsolicited acquisition proposal from Forager Capital Management, LLC at a price of US$3.10 per share, which follows previous offers that were deemed inadequate by the Company's Board [1][3]. Group 1: Acquisition Proposals - The latest proposal from FCM is a reduction from an earlier offer of US$3.90 per share made in January 2025, which represented a 26% premium over the current offer [2]. - The Board of Directors rejected the January Proposal, citing that it undervalued the Company and did not serve the best interests of shareholders [3]. - FCM has made multiple offers without engaging through the Company's financial advisor, raising concerns about its credibility and intentions [5]. Group 2: Company Developments - Since the January Proposal, the Company has made strategic acquisitions, including a full-service durable medical equipment provider with an unaudited revenue of US$6.6 million and a joint venture for a 60% stake in Hart Medical Equipment, contributing an additional unaudited revenue of US$60 million and US$7 million in Adjusted EBITDA [4]. - The Company aims to enhance shareholder value by expanding its service offerings in in-home monitoring and chronic disease management, focusing on patients with various health conditions [7]. Group 3: Board's Position - The Board, advised by Truist Securities, remains committed to protecting long-term shareholder value and is open to engaging with FCM if it complies with confidentiality agreements [6].

Financial Data and Key Metrics Changes - Revenue for fiscal Q3 2025 was $58.3 million, a decrease of 4.1% compared to $60.8 million in Q3 2024, but a return to positive quarter-over-quarter organic growth of 1.6% from $57.4 million in Q2 2025 [14][18] - Adjusted EBITDA for Q3 2025 was $13.7 million, or 23.5% of revenue, compared to $14.2 million, or 23.4% of revenue for Q3 2024, representing a 3.6% decrease [14][18] - Net loss for Q3 2025 was $3 million, or $0.07 per diluted share, compared to a loss of $1.6 million, or $0.04 per diluted share for Q3 2024 [15] - Cash flow from operations for the nine months ended June 30, 2025, was $27.9 million, compared to $25.4 million for the same period in 2024 [15] Business Line Data and Key Metrics Changes - The customer base decreased modestly to 151,000 unique patients as of June 30, 2025, from 153,000 unique patients as of June 30, 2024 [13] - Unique setups and deliveries totaled 210,000 in Q3 2025, down from 216,000 in Q3 2024 [13] - Respiratory resupply setups totaled 119,000 in Q3 2025, a slight decrease from 120,000 in the prior year quarter [13] Market Data and Key Metrics Changes - The company reported that recurring revenue for Q3 2025 remained strong at 81% of total revenue [14] - The joint venture with Heart Medical Equipment is expected to enhance the company's presence in the Midwest, particularly in Michigan and Ohio, with access to a recurring patient base of over 67,000 patients each month [20][28] Company Strategy and Development Direction - The company is focused on expanding its healthcare system partnerships, as evidenced by the recent transaction with Ballad Health and the joint venture with Heart Medical Equipment [5][19] - The strategic emphasis on respiratory care aligns with macro trends such as an aging population and rising chronic respiratory disease rates, which are expected to drive long-term demand [23][28] - The company aims to deepen referral networks and enhance operational efficiencies to capture a larger share of patient volume at the point of discharge [26][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operating metrics and the recent healthcare system transactions, indicating a clear roadmap for growth [9][21] - The company anticipates that the integration of recent acquisitions will lead to improved margins and operational efficiencies [42][44] - Management remains focused on maximizing long-term shareholder value while navigating the evolving healthcare landscape [29] Other Important Information - The company has entered into a joint venture to acquire a 60% ownership stake in Heart Medical Equipment, which generated approximately $60 million in revenue and $7 million in adjusted EBITDA as of June 30, 2025 [19][20] - The company reported a net debt to adjusted EBITDA leverage ratio of 1.5x, well within its target range [17] Q&A Session Summary Question: Can you discuss the adjusted EBITDA margin and targets for improvement? - Management expects continued improvements in EBITDA margins, despite patient CapEx being a drag due to investments in replacing ventilators [31][32] Question: How do you plan to increase the EBITDA margin for the Heart joint venture? - Management anticipates that integration will align Heart's cost structures with Quipt's historical averages, leading to margin improvements [34] Question: What types of patients are being discharged from the health centers? - The majority of patients are treated for respiratory conditions, including ventilation and oxygen needs [35] Question: Is there a financial component to the joint venture? - The joint venture involves an equity position, allowing the company to work closely with hospital systems to enhance discharge processes [38][40] Question: What is the current status of the M&A pipeline? - The M&A pipeline remains strong, with ongoing evaluations of strategic fits for future acquisitions [43][44]

Core Viewpoint - Quipt Home Medical Corp. is set to announce its fiscal Third quarter 2025 financial results on August 11, 2025, with a conference call scheduled for August 12, 2025, to discuss the results with the investment community [1][2]. Company Overview - Quipt Home Medical Corp. is a U.S.-based provider of home medical equipment, focusing on end-to-end respiratory care and in-home monitoring and disease management services [3]. - The company aims to expand its offerings to manage various chronic diseases, particularly targeting patients with heart or pulmonary diseases, sleep disorders, and reduced mobility [3]. - The primary business objective is to create shareholder value by providing a broader range of services to patients requiring in-home monitoring and chronic disease management [3]. - The organic growth strategy involves increasing annual revenue per patient by offering multiple services to the same patient and consolidating their services [3].

Core Viewpoint - The Schall Law Firm is investigating Quipt Home Medical Corp. for potential violations of securities laws, particularly concerning misleading statements and failure to disclose important information to investors [1][2]. Group 1: Investigation Details - The investigation centers on whether Quipt issued false or misleading statements, particularly regarding a press release on May 21, 2025, related to an acquisition offer from Forager Capital Management [2]. - Forager Capital Management, a significant shareholder, has requested Quipt to retract its misleading statement about their offer to acquire 100% of Quipt's common shares at a price of $3.10 per share [2]. - Following the news of the investigation and the press release from Forager, Quipt's shares experienced a decline of over 8.5% on the same day [2]. Group 2: Legal Representation - The Schall Law Firm is representing investors globally and specializes in securities class action lawsuits and shareholder rights litigation [3]. - Shareholders who have suffered losses are encouraged to contact the Schall Law Firm for a free discussion of their rights [3].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Quipt Home Medical Corp and its officers or directors [1] Group 1: Investigation and Claims - Pomerantz LLP is conducting an investigation on behalf of investors of Quipt Home Medical Corp regarding possible securities fraud [1] - Investors are encouraged to contact Pomerantz LLP for more information about the investigation [1] Group 2: Shareholder Actions - Forager Capital Management, a major shareholder of Quipt, has requested the company to retract a misleading statement regarding its offer to acquire Quipt's shares at $3.10 each [3] - Following the press release from Forager, Quipt's stock price decreased by $0.18, or 8.53%, closing at $1.93 per share on June 5, 2025 [3] Group 3: Firm Background - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of over 85 years in fighting for victims of securities fraud [4] - The firm has successfully recovered numerous multimillion-dollar damages awards for class members [4]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Quipt Home Medical Corp and its officers or directors [1] Group 1: Investigation and Claims - Pomerantz LLP is representing investors of Quipt Home Medical Corp in an investigation regarding possible securities fraud [1] - Forager Capital Management, a major shareholder of Quipt, has requested the company to retract a misleading statement related to its acquisition offer [2] Group 2: Stock Performance - Following the news of Forager's request, Quipt's stock price decreased by $0.18, or 8.53%, closing at $1.93 per share on June 5, 2025 [2]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Quipt Home Medical Corp and its officers or directors [1] Group 1: Investigation and Claims - Pomerantz LLP is conducting an investigation on behalf of investors of Quipt Home Medical Corp regarding possible securities fraud [1] - Investors are encouraged to contact Pomerantz LLP for more information about the investigation [1] Group 2: Shareholder Actions - Forager Capital Management, a major shareholder of Quipt, has requested the company to retract a statement made on May 21, 2025, which they claim is false and misleading regarding an acquisition offer [3] - Following the press release from Forager, Quipt's stock price decreased by $0.18, or 8.53%, closing at $1.93 per share on June 5, 2025 [3]

Company Overview - Viemed Healthcare, Inc. is a national leader in respiratory care and technology-enabled home medical equipment services in the United States [2] - The company specializes in post-acute respiratory healthcare equipment and services, including non-invasive ventilators, sleep therapy, and staffing [2] - Viemed focuses on providing efficient and effective in-home treatment through clinical practitioners who deliver therapy, education, and counseling to patients [2] Event Announcement - Viemed will present at the East Coast IDEAS Investor Conference on June 11, 2025, at The Westin Times Square in New York, NY [1] - The presentation is scheduled to begin at 11:30 am ET and will be webcasted [1] - Access to the webcast is available through the conference host's website and Viemed's investor relations section [1] IDEAS Investor Conferences - The IDEAS Conferences aim to provide independent venues for quality companies to present their investment merits to investment professionals [3] - These conferences are sponsored by investors for the benefit of regional investment communities, with sponsors managing over $200 billion in assets [3] - The conferences are produced annually by Three Part Advisors, LLC [4]

Core Viewpoint - Quipt Home Medical Corp. has received an unsolicited non-binding proposal from Forager Capital Management to acquire 100% of its common shares at a price of $3.10 per share [1] Group 1: Proposal Details - The proposal is non-binding, conditional, and indicative, indicating that it is not a formal offer yet [1] - The Company has a Non-Disclosure and Standstill Agreement with Forager, which prohibits Forager from acquiring any equity securities or assets of Quipt for six months without prior approval from the Board [2] - The Board has not provided any prior written approval for the proposal, adhering to the terms of the Agreement [2] Group 2: Company Strategy and Operations - Quipt focuses on providing in-home monitoring and disease management services, particularly in respiratory care, and aims to expand its offerings for chronic disease management [4] - The primary business objective is to create shareholder value by offering a broader range of services to patients, thereby increasing annual revenue per patient [4] - The Company is committed to driving sustainable value for its shareholders and will consult with financial and legal advisors regarding the proposal [3]