Quipt Home Medical Corp. is officially a privately held company.
After months of repeated acquisition offers that at times Quipt criticized as “undervalued,” the home medical equipment provider announced on March 16 “the successful completion of the previously announced plan of arrangement” with affiliates of Kingswood Capital Management and Forager Capital Management.
Kingswood and Forager “acquired all of the issued and outstanding common shares of the company for cash consideration of U.S. $3.65 per share,” the announcement added.
“We are pleased to announce the successful conclusion of this transformative transaction, which initiates an exciting new phase for Quipt as a privately held entity,” said Quipt CEO Greg Crawford. “On behalf of our board of directors and management team, I extend our sincere gratitude to our shareholders for their trust, support and strong endorsement throughout this process.
“We believe this transaction strategically positions the company for sustained long-term success. We wish to express our appreciation to all advisors, with particular acknowledgment to our legal advisors at DLA Piper for their exceptional guidance during this transaction.”
Quipt reported on March 5 that it had received “the final substantive court approval required prior to the closing of the arrangement” from the Supreme Court of British Columbia, and that the arrangement was therefore expected to be completed by March 16.
Prior to that, the acquisition process had involved several twists and turns.
In an Aug. 27, 2025, announcement, Wilder, Kentucky-based Quipt said it had received “another unsolicited, non-binding and indicative proposal dated Aug. 25, 2025, from Forager Capital Management LLC to acquire all of the company’s issued and outstanding common shares for $3.10 per share.”
Forager had offered that same price in May 2025. On the morning of the May 21, 2025, announcement, Quipt was trading at $1.96 per share.
Multiple media outlets described the May 2025 offer as a hostile takeover attempt based on Quipt’s response, which said in part, “It is the company’s policy not to comment on unsolicited offers and is confirming its receipt of the non-binding proposal only because Forager has made it public.”
Now, Quipt — formerly traded as QIPT on Nasdaq — moves forward as a private company.
In a joint statement, Kingswood Partner Michael Niegsch and Forager Partner Johnny Wilhelm said, “Today marks an exciting milestone for Quipt. We are grateful to Greg Crawford, Hardik Mehta and the entire Quipt team for the strong foundation they have built, and we are thrilled to officially begin our partnership together. Quipt’s culture, patient-first approach, and commitment to clinical excellence have positioned the company as a leader in home-based respiratory care. As we move forward, our focus will be on supporting the team, investing in the platform, and building upon the company’s momentum to drive long-term growth.”
