Quipt Announces New National Insurance Contract with Top 5 Health Insurer

CINCINNATI—Quipt Home Medical Corp. (“Quipt” or the “Company”) a U.S.-based home medical equipment provider, focused on end-to-end respiratory care, announced the execution of a national insurance contract with a top five health insurer based on membership in the United States. This represents the second national insurance contract Quipt has signed since April 2022.

“Our strong start to the year has continued with the execution of our second national insurance contract with another top-five health insurer in the United States,” said Greg Crawford, Chairman and CEO of Quipt. “At present, we are providing cost-effective patient care to over 270,000 active patients across the nation and I am very excited that another major health insurer has recognized the value creation we are providing within the industry. Looking across the entire company, I am very pleased with the continued momentum that we are experiencing in the wake of our biggest acquisition to date, which has assisted us in achieving annualized revenue of $220 million and anticipated annualized adjusted EBITDA‎ (defined below) of $49 million. We remain focused on delivering on our robust growth strategy and the signing of this contract is yet another milestone that will assist us in reaching our long-term goals. The execution of this new national insurance contract continues to expand our patient accessibility profile and is expected to assist us in the acceleration of our organic growth strategy. I am also excited to be able to immediately leverage both our national contracts, which is extremely meaningful in terms of capturing as many eligible patients as possible. I look forward to continuing to update our shareholders with respect to our ongoing operational and financial success.”