Allina Oxygen & Home Medical Equipment Is Now Adapthealth!
GAAP or as an alternative to cash flows from operating activities as a measure of the Company’s liquidity. AdaptHealth completed six additional acquisitions following the quarter, expanding HME operations in Kentucky, Ohio, West Virginia, New Jersey, New York, South Carolina, and Florida. In the second quarter, AdaptHealth delivered its highest quarterly net revenue and adjusted EBITDA as a public company.
This outlook excludes anticipated first year operating losses and severance and restructuring costs associated with the McKesson Patient Care Solutions acquisition totaling approximately $15 million. This outlook also excludes the impact of additional acquisitions that AdaptHealth may consummate during the year. The M&A market for healthcare companies continues to strengthen as we approach 2021. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management. AdaptHealth services about 1.8 million patients annually through its network of 269 locations in 41 states.
There may be additional risks that neither DFB nor Adapt presently know or that DFB and Adapt currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect DFB’s and Adapt’s expectations, plans or forecasts of future events and views as of the date of this press release. DFB and Adapt anticipate that subsequent events and developments will cause DFB’s and Adapt’s assessments to change. However, while DFB and Adapt may elect to update these forward-looking statements at some point in the future, DFB and Adapt specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing DFB’s and Adapt’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Thank you, and thanks to everybody for participating in your questions and your interest. And again, thanks to all of our incredible employees throughout our organization that are helping us with our continued mission to better serve our patients and improve outcomes. And then on the resupply as those patients after that time period.
The 3,700-employee company generated revenue of $529.6 million last year. AdaptHealth became publicly traded company in July 2019 after merging with DFB Healthcare Acquisitions Corp., a special purpose acquisition company that was already publicly traded and sponsored by Deerfield Management Inc. of New York. Adapt, founded seven years ago as QMES Holdings LLC, employs more than 500, according to industry databases.
I guess, for Jason, a lot of people have been asking us about your organic growth mask. We expect much of the shortfall in setups would be delayed until 2022 and likely recaptured, and we’ll have a better perspective on this by the time we report next quarter. We’re very pleased with our continued adoption of our e-prescribe technology. For example, in our diabetes product line, approximately 40% of new orders are currently flowing through this technology and more importantly, our cycle times are down significantly.