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LAFAYETTE, La. - Viemed Healthcare, Inc. (NASDAQ: VMD), a provider of in-home post-acute respiratory healthcare equipment and services with a market capitalization of $290 million, has announced a definitive agreement to purchase Lehan’s Medical Equipment, an Illinois-based company known for its respiratory care and women’s health products. According to InvestingPro data, Viemed maintains a "GREAT" financial health score, positioning it well for strategic acquisitions. The acquisition, which is anticipated to close in the third quarter of 2025, is set for a base purchase price of $26 million with additional contingent payments estimated at $2.2 million.
Lehan’s Medical Equipment, with a history dating back to 1946, has three full-service locations in Northern Illinois and three sleep/CPAP setup locations in the West Chicagoland area, including one in Wisconsin. The company reported net revenues of about $25.7 million and Adjusted EBITDA of roughly $7.4 million in 2024.
Viemed’s CEO, Casey Hoyt, expressed enthusiasm for the acquisition, highlighting Lehan’s established brand and expertise in the home medical equipment sector, particularly in the realm of women’s health. Hoyt anticipates that the acquisition will bolster Viemed’s growth strategy in a significant market and diversify its product offerings. The company has demonstrated strong momentum with revenue growth of 22.5% over the last twelve months.
Upon completion of the transaction, more than 90 employees from Lehan, including owners Jim and Jon Lehan, will become part of Viemed. The transaction is expected to be funded through a combination of cash on hand and borrowings from Viemed’s existing credit facilities.
Viemed focuses on delivering efficient and effective in-home treatment, with clinical practitioners providing therapy, education, and counseling to patients. The company’s services include non-invasive ventilators, sleep therapy, and other complementary products.
This expansion move by Viemed is based on a press release statement and comes amid a broader industry trend of consolidation in the healthcare equipment and services sector. It represents a strategic effort by Viemed to increase its market presence and service offerings in the United States.
In other recent news, Viemed Healthcare Inc. reported its Q4 2024 earnings, exceeding analyst expectations with an earnings per share (EPS) of $0.10, compared to the forecasted $0.09. The company also surpassed revenue projections, bringing in $60.7 million against the anticipated $58.5 million. Viemed Healthcare demonstrated a strong performance throughout 2024, with full-year revenue reaching $220 million, marking a 23% increase from the previous year. The company has projected net revenue for 2025 between $254 million and $265 million, indicating a 16% growth. Additionally, the company anticipates adjusted EBITDA to rise by 10%, reflecting its focus on organic growth and potential mergers and acquisitions. Analyst firm Lake Street Capital Markets noted the strong finish to the year, while Viemed expressed confidence in its strategic direction. Viemed’s COO, Todd Zender, highlighted the company’s financial stability and lack of net debt, emphasizing its self-funding organic revenue engine. The company continues to explore opportunities in behavioral health and joint ventures, aiming to expand its market position.
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