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Viemed Healthcare Inc VMD

Healthcare Medical Care
Viemed Healthcare, Inc. through its subsidiaries, is a provider of home medical equipment (HME) and post-acute respiratory healthcare services in the United States. The Company’s service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counselling to patients in their homes using cutting edge technologies. The Company’s products and services include Home Medical Equipment, In-home sleep testing, and Healthcare staffing. Home Medical Equipment provides respiratory and other home medical equipment, including home ventilation, bi-level positive airway pressure (BiPAP) and continuous positive airway pressure (CPAP) devices, percussion vests, and other medical equipment. In-home sleep testing provides in home sleep apnea testing services. Healthcare staffing provides healthcare staffing and recruitment services. The Company provides home medical equipment services through its interest in East Alabama HomeMed, LLC (HomeMed).


NDAQ:VMD - Post by User

Viemed Healthcare Inc
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Comment by Ponch73on Mar 03, 2020 3:47pm
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Post# 30762531

RE:RE:RE:VMD in the penalty box

RE:RE:RE:VMD in the penalty box

While the quarter was far from perfect, I think there may be a basis for cautious optimism going forward.  

  • Viemed now defers a portion of its revenues on the balance sheet (billed monthly, but now accrued daily).  If you add back the change in this amount to the top-line, revenues net of bad debt expense would have grown 30% YOY instead of 24%.  And I think full-year revenues before bad debt expense (the way Viemed used to report its top line) would have grown over 30% YOY.
  • SG&A was roughly flat sequentially, which is a nice change of pace.
  • Management indicated that the company now has a non-exclusive national contract with the VA (after a 3-year sales effort).  
  • Management indicated that 20% of the company's revenues are Medicare contracts that would be subject to competitive bidding.
  • By my calculations, Viemed now trades at the lowest multiple of trailing operating cash flows since becoming a publicly-traded company, and operating cash flow margins in a disappointing year were still 24%.
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