Viemed Healthcare, Inc. announced on April 18 that it has entered into a definitive agreement to acquire Tennessee-based Home Medical Products, Inc. (HMP).
The transaction is expected to close in June 2023 with a purchase price of approximately $31.75 million, adjusted for net working capital and other customary closing adjustments. Viemed expects to fund the acquisition through a combination of cash on hand and borrowings from its existing undrawn credit facilities.
Founded in 2004, HMP is a regional provider of respiratory focused home medical solutions. In 2022, HMP generated net revenues of approximately $28 million and adjusted EBITDA of approximately $6.8 million.
Viemed Healthcare, Inc. is a provider of in-home medical equipment and post-acute respiratory healthcare services in the United States. Viemed’s service offerings are focused on treatments with clinical practitioners providing therapy and counseling to patients using cutting-edge technology.
According to data captured in the LevinPro HC database, this acquisition represents the 10th acquisition of a durable medical equipment/respiratory home care provider during 2023. There were five such transactions announced between January 1, 2022, and April 18, 2022.
