Quipt Home Medical Corp. (“
Quipt” or the
“
Company”) (NASDAQ:QIPT; TSXV:QIPT), a U.S. based
leader in the home medical equipment industry, focused on
end-to-end respiratory care, is very pleased to announce the
execution of a contract with Cardinal Health at-Home, a
business unit of Cardinal Health, Inc. (NYSE:CAH), wherein
Quipt has agreed to offer to sell, and Cardinal has agreed to
supply and distribute, disposable medical supplies nationwide.
Headquartered in Dublin, Ohio, Cardinal Health, Inc. is a
distributor of pharmaceuticals, a global manufacturer and
distributor of medical and laboratory products, and a provider of
performance and data solutions for healthcare
facilities.
Management
Commentary
“The execution of this contract with Cardinal
Health for the supply of disposable medical supplies is an
important milestone for Quipt, and we are thrilled to form this
alliance during a period of significant growth. Cardinal will
service our entire operating footprint, consisting of 94 locations
across the country aimed at increasing distribution channels while
decreasing costs,” said Greg Crawford, Chairman and CEO of Quipt.
“Furthermore, this contract will provide us the ability to expand
our continuum of care, produce meaningful cross selling
opportunities and allow us to further leverage the national
insurance contract recently announced. This contract with Cardinal
will also assist us in expanding our presence in the states we
serve giving us additional verticals to go after. Additionally, any
new acquisitions, will benefit from being able to immediately
leverage the contract at new locations across the country,
providing further synergies with the expectation this contract will
give us stronger buying power for disposable medical supplies. The
contract with Cardinal, recent new national insurance contract, and
deep acquisition pipeline have us extremely excited about the
remainder of 2022 and beyond.”
ABOUT QUIPT
HOME MEDICAL
CORP.
The Company provides in-home monitoring and
disease management services including end-to-end respiratory
solutions for patients in the United States healthcare market. It
seeks to continue to expand its offerings to include the management
of several chronic disease states focusing on patients with heart
or pulmonary disease, sleep disorders, reduced mobility, and other
chronic health conditions. The primary business objective of the
Company is to create shareholder value by offering a broader range
of services to patients in need of in-home monitoring and chronic
disease management. The Company’s organic growth strategy is to
increase annual revenue per patient by offering multiple services
to the same patient, consolidating the patient’s services, and
making life easier for the patient.
ABOUT CARDINAL HEALTH
Cardinal Health is a distributor of
pharmaceuticals, a global manufacturer and distributor of medical
and laboratory products, and a provider of performance and data
solutions for health care facilities. With 50 years in business,
operations in more than 30 countries and approximately 44,000
employees globally, Cardinal Health is essential to care. Cardinal
Health at-Home provides Home Medical Equipment and Home Health and
Hospice teams with comprehensive solutions to better support their
patients in the home.
Reader Advisories
There can be no assurance that any of the
potential acquisitions in the Company’s pipeline or in negotiations
will be completed as proposed or at all and no definitive
agreements have been executed. Completion of any transaction will
be subject to applicable director, shareholder, and regulatory
approvals.
Unless otherwise specified, all dollar amounts
in this press release are expressed in U.S. dollars.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this press
release constitute "forward-looking information" as such term is
defined in applicable Canadian securities legislation. The words
"may", "would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect",
"outlook", and similar expressions as they relate to the Company,
including: the national contract being meaningful as Quipt expands
into new states, and broadens its operating footprint; Quipt
expanding into new states and broadening its operating footprint
over a much wider geography; and Quipt completing additional
acquisitions; are intended to identify forward-looking
information. All statements other than statements of historical
fact may be forward-looking information. Such statements reflect
the Company's current views and intentions with respect to future
events, and current information available to the Company, and are
subject to certain risks, uncertainties and assumptions. Many
factors could cause the actual results, performance or
achievements that may be expressed or implied by such
forward-looking information to vary from those described herein
should one or more of these risks or uncertainties materialize.
Examples of such risk factors include, without limitation: credit;
market (including equity, commodity, foreign exchange and
interest rate); liquidity; operational (including technology and
infrastructure); reputational; insurance; strategic; regulatory;
legal; environmental; capital adequacy; the general business and
economic conditions in the regions in which the Company operates;
the ability of the Company to execute on key priorities, including
the successful completion of acquisitions, business retention, and
strategic plans and to attract, develop and retain key executives;
difficulty integrating newly acquired businesses; the ability to
implement business strategies and pursue business opportunities;
low profit market segments; disruptions in or attacks (including
cyber-attacks) on the Company's information technology, internet,
network access or other voice or data communications systems or
services; the evolution of various types of fraud or other
criminal behavior to which the Company is exposed; the failure of
third parties to comply with their obligations to the Company or
its affiliates; the impact of new and changes to, or application
of, current laws and regulations; decline of reimbursement rates;
dependence on few payors; possible new drug discoveries; a novel
business model; dependence on key suppliers; granting of permits
and licenses in a highly regulated business; the overall difficult
litigation environment, including in the U.S.; increased
competition; changes in foreign currency rates; increased funding
costs and market volatility due to market illiquidity and
competition for funding; the availability of funds and resources
to pursue operations; critical accounting estimates and changes to
accounting standards, policies, and methods used by the Company;
the occurrence of natural and unnatural catastrophic events and
claims resulting from such events; and risks related to COVID-19
including various recommendations, orders and measures of
governmental authorities to try to limit the pandemic, including
travel restrictions, border closures, non-essential business
closures, quarantines, self-isolations, shelters-in-place and
social distancing, disruptions to markets, economic activity,
financing, supply chains and sales channels, and a deterioration of
general economic conditions including a possible national or
global recession; as well as those risk factors discussed or
referred to in the Company’s disclosure documents filed with
United States Securities and Exchange Commission and available at
www.sec.gov, and with the securities regulatory authorities in
certain provinces of Canada and available at www.sedar.com.
Should any factor affect the Company in an unexpected manner, or
should assumptions underlying the forward-looking information
prove incorrect, the actual results or events may differ
materially from the results or events predicted. Any such
forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, the Company does
not assume responsibility for the accuracy or completeness of
such forward-looking information. The forward-looking information
included in this press release is made as of the date of this
press release and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
For further information please visit our website at
www.Quipthomemedical.com, or contact:
Cole StevensVP of Corporate Development Quipt Home Medical
Corp.859-300-6455cole.stevens@myquipt.com
Gregory CrawfordChief Executive OfficerQuipt Home Medical
Corp.859-300-6455investorinfo@myquipt.com
Quipt Home Medical (NASDAQ:QIPT)
Historical Stock Chart
From Nov 2024 to Dec 2024
Quipt Home Medical (NASDAQ:QIPT)
Historical Stock Chart
From Dec 2023 to Dec 2024
