Quipt Home Medical (QIPT) announced it has signed a definitive agreement with three major health systems and hospitals to form a joint venture. Pursuant to the definitive agreement, Quipt will acquire a 60% ownership interest in Hart Medical Equipment, with the remaining 40% interest collectively held by major health systems, Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital and The Bellevue Hospital. This strategic transaction is expected to enhance Quipt’s presence in the Midwest, add deep healthcare system partnerships, and provide the Company with immediate entry into Michigan, a large and strategically important market, and new territories in Ohio. The transaction is expected to close by the end of Fiscal Q4, 2025, subject to customary closing conditions, including approval by the lender to Quipt’s existing credit facility.
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