RE:news
ORIGINAL: Quipt Announces Execution of LOI to Acquire Leader in Comprehensive Respiratory Care Within the Long-Term Care Setting With Approximately $14 Million in Annualized Revenue and $1 Million in Net Income
2021-11-22 10:55 ET - News Release
Target Would Serve as Quipt’s Entrance Into Comprehensive Respiratory Care Within the Long-Term Care Setting, and Provide Cross Selling Opportunity
Target Services Seven States, Including Four New States Within Quipt’s Operating Footprint, With 165 Respiratory Therapists
CINCINNATI, Nov. 22, 2021 (GLOBE NEWSWIRE) -- 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 that it has executed a non-binding letter of intent (the “LOI”) dated November 22, 2021 to acquire an arm’s length private respiratory care company servicing seven states throughout the U.S. reporting unaudited trailing 12-month annual revenues of approximately $14 million, $1 million in net income, and positive Adjusted EBITDA (defined below).