Quipt Home Medical Corp. (Nasdaq: QIPT) will be focusing on multiple ways to grow its business while also strengthening relationships with referral sources, the home medical equipment (HME) provider said at its annual general meeting on March 17.
The provider will emphasize organic and de novo growth strategies, as well as looking for opportunities to take part in mergers and acquisitions (M&A), Quipt said in a March 24 news announcement.
“As it relates to its strategic priorities for 2025, the company remains committed to returning to historical levels of organic growth, optimizing capital allocation, and building a scalable health-care ecosystem through innovative M&A, including potential joint venture initiatives,” the announcement said.
Opening new locations, expanding existing ones
Quipt indicated it would plan “additional site launches in high-value, strategic markets” to strengthen its national footprint. The provider referenced the successful opening of locations in Alabama and Florida.
To grow all locations, Quipt is “reinforcing relationships with physicians, hospitals and health-care providers in an effort to drive patient acquisition and enhance long-term referral pipelines,” the announcement said. “Quipt is adding new sales representatives in targeted regions, while launching the Quipt Sales Accelerator program, an initiative focused on advanced sales education and performance-driven training.”
Quipt, a respiratory HME specialist, is also expanding its product offerings, “including a recently Medicare-approved device, which enhances airway clearance and secretion mobilization, which fits seamlessly into the company’s strategy of serving higher-acuity respiratory patients.”
An expanding M&A strategy
While the Cincinnati, Ohio-based provider has traditionally looked to acquire other HME providers, Quipt is now “expanding” its focus “beyond acquiring only traditional DME [durable medical equipment] providers. The company is currently in active discussions to align with health-care systems through potential joint venture or strategic acquisition.
“These opportunities could come with a preferred provider agreement, which presents the company with significant, untapped growth opportunities to integrate home-based care within larger health-care ecosystems.”
And Quipt is seeking opportunities to work with like-minded organizations: “The company has begun identifying key health-care system partners in priority markets, targeting those with established patient bases and aligned objectives, such as reducing hospital readmissions and improving post-acute care,” the announcement said. “By combining Quipt’s expertise in operational efficiency and clinical excellence with health systems localized patient flow and market knowledge, the company aims to deepen its geographic reach and provide innovative home health-care solutions.”
This “joint-venture” strategy will be “a scalable model for potential future partnerships, in an effort to enable Quipt to expand nationally while strengthening its role as a trusted, value-adding partner in the broader health-care landscape.”
This year “marks a pivotal year for Quipt as we double down on our commitment to augment organic growth and prioritize a disciplined capital allocation strategy while maintaining strong margins,” said Gregory Crawford, Quipt’s CEO and chairman. “We are also dedicated to strategically deploying capital through targeted share repurchases aimed at maximizing shareholder value, while adopting a refined approach to our historical M&A strategy. By aligning with health-care systems through potential joint ventures and strategic acquisitions, we see a significant and scalable opportunity to accelerate growth and position Quipt as a leader in integrated home-based care. With a focus on improving operational efficiencies, expanding de novo locations into favorable markets, and strengthening our referral pipeline, we are well positioned to deliver long-term value.”
At the general meeting, company shareholders added four members — Gregory Crawford, Mark Greenberg, Kevin Carter, and Brian Wessel — to Quipt’s board of directors.
