Hme Adapthealth To Go Public
Home healthcare equipment company AdaptHealth agreed to acquire AeroCare and lifted its revenue outlook. On the 4th of August, Joshua Parnes exercised options to buy 417k shares at a strike price of around US$11.50, costing a total of US$4.8m. This transaction amounted to 200% of their direct individual holding at the time of the trade. Since December 2020, Joshua’s direct individual holding has decreased from 223.13k shares to 208.53k. Company insiders have collectively sold US$41m more than they bought, via options and on-market transactions in the last 12 months.
The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release. Both companies have been aggressively acquiring other companies—AdaptHealth has closed 64 since 2017 and Aerocare has closed 50 in the same period—and leadership predicted continued growth both through mergers and acquisition and organic growth. The long-term target, according to the company’s investor documents, is a mix that’s about 40% sleep, 30% diabetes and 30% everything else. Company leadership said they expect annual organic growth for the combined company to be in the 8%-10% range. AeroCare, a respiratory and home medical equipment in Orlando, Fla., is owned by investors including Peloton Equity, SkyKnight Capital, SV Health Investors, and AeroCare management and employees. So again, theoretically, if you — if either there’s just less patients to service or if there’s an impact that you don’t have product to service a patient in Q3, that’s going to impact your rental revenue in that quarter.
Make an impact on the world and the future of healthcare. No offer of securities shall be made except by means of a definitive document. Barasch was chief executive of Universal American Corp., the health insurance company, before he sold it to WellCare Health Plans Inc. in 2017.
But I’d say that in terms of tailwind, I mean, we did include the public health emergency extension dollars as part of this guide. So I’m going to reference some kind of shape and seasonality discussion we talked about last quarter. And I’m also going to reference the Q1 pro forma revenue number that I gave you of $564 million. So in terms of the acquisition portfolio, it is very in line with the rest of the business.
Through its network of 189 locations, AdaptHealth was providing services to more than one million patients annually in 49 states, as of September 30, 2019. The company has appointed Rodney Carson, a healthcare industry expert, as president for the new combined firm, named AdaptHealth Patient Care Solutions . Under the terms of the transaction, AdaptHealth will pay $1.1 billion in cash and 31 million common shares for AeroCare. Florida-based AeroCare provides respiratory and other medical equipment for use at home.
Take the leap toward a passionate and rewarding career with purpose through a program that teaches you to empower change in others. Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.