Copyright Baton Rouge Advocate
Viemed Healthcare, the Lafayette-based company that provides in-home medical equipment and post-acute respiratory health care services throughout the U.S., reported an increase of $13.9 million in net revenue in the third quarter compared to a year ago. The company reported $71.9 million in net revenue as of Sept. 30, according to its earnings report released Wednesday. That amount is up 24% from the third quarter 2024. Total net revenue for the current year is projected to be $271-$273 million. Ventilator patient count rose to 12,372 as of Sept. 30, up 8.8% from a year ago and 1.8% from the second quarter. Its PAP therapy patient count rose to 31,891, more than doubling the amount from a year ago and up 32.8% increase from the second quarter. Viemed ended the quarter with a cash balance of $11.1 million and an overall working capital balance of $5.8 million. In July the company closed on its $26 million acquisition of Lehan's Medical Equipment, medical equipment business that specializes in respiratory care and women’s health. The move enhanced its market presence and diversified its offerings, CEO Casey Hoyt said. "We delivered another outstanding quarter marked by strong execution and sustained expansion of our patient base across every major service line,” CEO Casey Hoyt said. Viemed's stock was valued at $6.43 at the close of market Thursday.
