CINCINNATI, April 26, 2022 (GLOBE NEWSWIRE) — Quipt Home Medical Corp. (“Quit“or the”Company” (NASDAQ:QIPT; TSXV:QIPT), an American leader in the home medical equipment industry, focused on end-to-end respiratory care, is very pleased to announce the signing of a contract to national insurance with one of the top five insurers in the United States1.
“Executing this national insurance contract with the largest commercial payer in the United States is a major milestone for Quipt and serves as an additional accelerator to our ambitious long-term growth plans. The national contract should be significant then that we continue to expand into new states, expanding our operational footprint over a much wider geographic area.When we make an acquisition, we will be able to immediately leverage the national contract, which is extremely powerful in attracting so many patients eligible as possible,” said Greg Crawford, President and CEO of Quipt. add additional payers, and we will continue to work with other major commercial payers to help them better understand our strong appro patient-centered. model and the benefits for patients and payers. The new national insurance contract, extremely favorable demographics, and our robust operating platform position us in an industry-leading position to provide high-contact, home-based clinical respiratory services nationwide. »
IN REGARDS TO QUIPT RESIDENCE MEDICAL CORP.
The Company provides 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 multiple chronic disease conditions with a focus on patients with heart or lung disease, sleep disorders, reduced mobility and other chronic health conditions. The Company’s primary business objective is to create shareholder value by providing a broader range of services to patients requiring 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 patient services and making life easier for the patient.
Notice to readers
There can be no assurance that any of the potential acquisitions in the Company’s pipeline or under negotiation will be completed as proposed or at all and no definitive agreement has been signed. Completion of any transaction will be subject to applicable director, shareholder and regulatory approvals.
Unless otherwise indicated, all dollar amounts in this press release are expressed in US 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.
Certain statements contained in this press release constitute “forward-looking information” as that term is defined under applicable Canadian securities laws. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “outlook” and similar expressions relating to the Company, including: the national contract being significant as Quipt expands into new states and expands its operational footprint; Quipt expands into new states and expands its operational footprint over a much larger geographic area; and Quipt making additional acquisitions; are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. These statements reflect the Company’s current beliefs and intentions regarding future events, as well as 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 differ from those described herein, should one or more of these risks or uncertainties materialize. Examples of such risk factors include, but are not limited to: credit; market (including stocks, commodities, exchange rates and interest rates); liquidity; operational (including technology and infrastructure); reputation; Assurance; strategic; regulatory; legal; environmental; capital adequacy; general business and economic conditions in the regions in which the Company operates; the Company’s ability to implement its key priorities, including successful 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 seize business opportunities; low profit market segments; disruptions or attacks (including cyberattacks) on the Company’s information technology, Internet, network access, or other voice or data communication systems or services; developments in various types of fraud or other criminal behavior to which the Company is exposed; failure by third parties to meet their obligations to the Company or its affiliates; the impact of new laws and changes to applicable laws and regulations or their application; lower reimbursement rates; reliance on a few payers; possible discoveries of new drugs; a new business model; dependency on major suppliers; permitting and licensing in a highly regulated business; the challenging global litigation environment, including in the United States; increased competition; changes in exchange rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to continue operations; critical accounting estimates and changes to accounting standards, policies and methods used by the Company; the occurrence of catastrophic natural and unnatural events and claims resulting from such events; and risks related to COVID-19, including various recommendations, orders and measures by government authorities in an attempt to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolation, shelter-in-geographic and social distancing, disruptions in markets, economic activity, funding, supply chains and sales channels, and a deterioration in general economic conditions, including a possible national or global recession; as well as the risk factors discussed or referred to in the Company’s disclosure documents filed with the United States Securities and Exchange Commission and available at www.sec.gov, and with the regulatory authorities of the securities of certain provinces of Canada and available at www.sedar.com. If any factor affects the Company in an unexpected way, or if the assumptions underlying the forward-looking information prove incorrect, the actual results or events could differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Further, the Company assumes no 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, except as required by applicable law.
For more information, please visit our website at www.Quipthomemedical.com or contact:
Vice President of Corporate Development
Quipt Home Medical Corp.
Chief executive officer
Quipt Home Medical Corp.