Viemed Announces Acquisition of Majority Interest in HomeMed, Forging Partnership With East Alabama Health
02 Abril 2024 - 7:00AM
Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD), a
national leader in respiratory care and technology-enabled home
medical equipment services, announced the finalization of its
strategic partnership with East Alabama Health (“EAH”), providing
Viemed with the controlling interest of East Alabama HomeMed, LLC
("HomeMed"). HomeMed provides home medical equipment services to
patients within the EAH network as well as those in the surrounding
areas of Eastern Alabama.
"We are thrilled to join forces with the
exceptional team at East Alabama Health to deliver best-in-class
home medical services to their patients and expand HomeMed’s
business through the strategic partnership," said Viemed Chief
Executive Officer Casey Hoyt. "This marks a significant milestone
in our ongoing growth strategy, which includes hospital joint
ventures and institutional partnerships. We view this transaction
as a blueprint that can be replicated nationwide, enhancing care
quality while simultaneously creating value for healthcare
systems."
Laura Grill, President and CEO of EAH,
emphasized that the collaboration with Viemed aligns seamlessly
with East Alabama Health’s organizational mission to provide the
best possible care for every patient, every time, and to do so with
empathy, kindness and caring. The EAH network encompasses East
Alabama Medical Center in Opelika, AL, and EAMC-Lanier Hospital in
Valley, AL, with a combined medical staff of 380 physicians.
The transaction closed on April 1, 2024, with
Viemed acquiring a majority ownership interest and assuming
managerial responsibilities of HomeMed. EAH will retain a minority,
non-controlling interest in the entity. Viemed expects incremental
annualized revenue from the acquired operations of approximately $4
million.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is a provider of in-home medical
equipment and post-acute respiratory healthcare services in the
United States. Viemed’s service offerings are focused on effective
in-home treatment with clinical practitioners providing therapy and
counseling to patients in their homes using cutting-edge
technology. Visit our website at www.viemed.com.
For further information, please contact:
Glen AkselrodBristol
Capital905-326-1888glen@bristolir.com
Todd ZehnderChief Operating OfficerViemed
Healthcare, Inc.337-504-3802investorinfo@viemed.com
Forward-Looking Statements
Certain statements contained in this press
release may constitute “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 or “forward-looking information” as such term is defined in
applicable Canadian securities legislation (collectively,
“forward-looking statements”). Often, but not always,
forward-looking statements can be identified by the use of words
such as “plans”, “expects”, “is expected”, “budget”, “potential”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes”, “projects”, or the negatives thereof or variations of
such words and phrases or statements that certain actions, events
or results “will”, “should”, “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved” or the negative of these
terms or comparable terminology. All statements other than
statements of historical fact, including those that express, or
involve discussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or performance, including
the Company's ability to expand HomeMed’s business, to replicate
the transaction nationwide, and expected annualized revenue
associated with the acquisition, are not historical facts and may
be forward-looking statements and may involve estimates,
assumptions and uncertainties that could cause actual results or
outcomes to differ materially from those expressed in the
forward-looking statements. Such statements reflect the Company's
current views and intentions with respect to future events, and
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 statements to vary
from those described herein should one or more of these risks or
uncertainties materialize. These factors include, without
limitation: the general business, market and economic conditions in
the regions in which the Company operates; significant capital
requirements and operating risks that the Company may be subject
to; the ability of the Company to implement business strategies and
pursue business opportunities; volatility in the market price of
the Company's common shares; the state of the capital markets; the
availability of funds and resources to pursue operations;
inflation; reductions in reimbursement rates and audits of
reimbursement claims by various governmental and private payor
entities; dependence on few payors; possible new drug discoveries;
dependence on key suppliers; granting of permits and licenses in a
highly regulated business; competition; disruptions in or attacks
(including cyber-attacks) on the Company's information technology,
internet, network access or other voice or data communications
systems or services; the evolution of various types of fraud or
other criminal behavior to which the Company is exposed; difficulty
integrating newly acquired businesses; the impact of new and
changes to, or application of, current laws and regulations; the
overall difficult litigation and regulatory environment; increased
competition; increased funding costs and market volatility due to
market illiquidity and competition for funding; critical accounting
estimates and changes to accounting standards, policies, and
methods used by the Company; the Company’s status as an emerging
growth company and a smaller reporting company; and the occurrence
of natural and unnatural catastrophic events or health epidemics or
concerns, and claims resulting from such events or concerns; as
well as those risk factors discussed or referred to in the
Company’s disclosure documents filed with the U.S. Securities and
Exchange Commission (the “SEC”) available on the SEC’s website at
www.sec.gov, including the Company’s most recent Annual Report on
Form 10-K, and with the securities regulatory authorities in
certain provinces of Canada available at www.sedar.com. Should any
factor affect the Company in an unexpected manner, or should
assumptions underlying the forward-looking statements prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
statements are expressly qualified in their entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking statements. The forward-looking statements included
in this press release are made as of the date of this press release
and the Company undertakes no obligation to publicly update or
revise any forward-looking statements, other than as required by
applicable law.
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