Quipt Home Medical completes strategic acquisition of Hart Medical

Quipt Home Medical (QIPT) announced the closing of its previously announced joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment. Quipt has acquired a 60% ownership interest in Hart, with the remaining 40% interest collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital. Transaction Highlights: Quipt has acquired a 60% ownership interest in Hart for total consideration of $17.4 million which was funded by senior credit facilities. Hart generated approximately $60 million in annual revenue and $7 million in Adjusted EBITDA for the twelve months ended June 2025 and expects to generate $10+ million in annual Adjusted EBITDA over the next 6-9 months. Management anticipates Hart’s Adjusted EBITDA margins will align with Quipt’s historical corporate averages over the next 6-9 months. For reporting purposes, Quipt expects to consolidate the financial results of Hart. Accordingly, Quipt’s expected annualized run-rate revenue is now in excess of $300 million. Hart serves more than 67,000 patients monthly, providing a stable and recurring revenue stream.