Viemed Acquires Home Equipment Provider in Illinois for $26M

LAFAYETTE, Louisiana—Viemed Healthcare, Inc., a post-acute respiratory provider, announced that it has agreed to buy Illinois-based Lehan’s Medical Equipment, a health care company offering home medical equipment (HME) with specialties in respiratory care and women’s health.

“Operating for nearly 80 years, Lehan has established a well-deserved reputation for its expertise in-home medical equipment with a particular emphasis on women’s health and a deep commitment to community engagement,” said Viemed CEO Casey Hoyt. “Lehan gives us a strong platform to execute our growth strategy in a large and fast-growing market with very familiar products. The acquisition also diversifies our product mix into maternal health that we expect to extend to our existing payer relationships across the country. This is a highly motivated and experienced team that has created tremendous brand equity, and we are pleased to join forces with them.”

Founded in 1946 and headquartered in DeKalb, Illinois, Lehan’s Medical Equipment is a family-owned health care provider offering HME and products for women’s health, including breast pumps. Lehan also provides rental, sales and resupply of CPAPs and other respiratory devices, and sells other medical equipment. Lehan has three full-service locations in the Northern Illinois area and three sleep/CPAP set-up locations in the Chicago area. Owners Jim and Jon Lehan and the more than 90 employees of the organization will join Viemed upon the completion of the transaction.

In 2024, Lehan generated net revenues of approximately $25.7 million and adjusted EBITDA of approximately $7.4 million. The transaction is expected to close in the third quarter of 2025 for a base purchase price of $26 million, subject to customary net working capital adjustments and an estimated $2.2 million of contingent payments. Viemed expects to fund the acquisition through a combination of cash on hand and borrowings from its existing credit facilities.