{"id":881407,"date":"2025-09-03T08:22:58","date_gmt":"2025-09-03T12:22:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\/"},"modified":"2025-09-03T08:22:58","modified_gmt":"2025-09-03T12:22:58","slug":"quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\/","title":{"rendered":"Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue"},"content":{"rendered":"<h2>\nTransaction Strengthens Health System Partnerships, Expands Midwest Footprint, and Reinforces Long-Term Growth Strategy<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">CINCINNATI, Sept.  03, 2025  (GLOBE NEWSWIRE) &#8212; Quipt Home Medical Corp. (\u201c<strong>Quipt<\/strong>\u201d or the \u201c<strong>Company<\/strong>\u201d) (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, today announced the closing of its previously announced joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment (\u201c<strong>Hart<\/strong>\u201d). Quipt has acquired a 60% ownership interest in Hart, with the remaining 40% interest collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Transaction Highlights<\/u><br \/>\n        <\/strong><br \/>\n        <strong>:<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Quipt has acquired a 60% ownership interest in Hart for total consideration of $17.4 million which was funded by senior credit facilities.\n<\/li>\n<li style=\"text-align:justify\">Hart generated approximately $60 million in annual revenue and $7 million in Adjusted EBITDA for the twelve months ended June 2025 and expects to generate $10+ million in annual Adjusted EBITDA over the next 6-9 months.\n<\/li>\n<li style=\"text-align:justify\">Management anticipates Hart\u2019s Adjusted EBITDA margins will align with Quipt\u2019s historical corporate averages over the next 6-9 months.\n<\/li>\n<li style=\"text-align:justify\">For reporting purposes, Quipt expects to consolidate the financial results of Hart. Accordingly, Quipt\u2019s expected annualized run-rate revenue is now in excess of $300 million. Upon successful integration of Hart over the next 6-9 months, Quipt\u2019s Adjusted EBITDA is anticipated to be in excess of $65 million. As the primary beneficiary of the joint venture it is expected that the 40% non-controlling equity interest will be reported as a separate component on the Company\u2019s Consolidated Statements of Financial Position.\n<\/li>\n<li style=\"text-align:justify\">Hart maintains longstanding strategic relationships with leading integrated health systems, including Henry Ford Health, McLaren Health Care and Blanchard Valley Health, as well as freestanding community-based hospitals, embedding the business into the hospital discharge processes of more than 19 hospitals and affiliated care facilities across its network.\n<\/li>\n<li style=\"text-align:justify\">Hart serves more than 67,000 patients monthly, providing a stable and recurring revenue stream.<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <u>Management Commentary<\/u><br \/>\n        <\/strong><br \/>\n        <strong>:<\/strong>\n      <\/p>\n<p align=\"justify\">\u201cWe are excited to officially close this milestone transaction with three major health systems and welcome Hart to the Quipt family,\u201d said Greg Crawford, CEO and Chairman of Quipt. \u201cHart\u2019s strong health system relationships and regional market leadership represent a powerful strategic fit. This acquisition demonstrates the scalability of our acquisition platform, while providing us with a major entry into Michigan and expanded reach across the Midwest. Looking ahead, we see a deep pipeline of additional opportunities that can be integrated onto our platform to further accelerate growth. With a stabilized revenue base, consistent Adjusted EBITDA performance, and building momentum within the business, we are confident in our ability to close the calendar year on a high note and carry strong momentum into 2026.\u201d<\/p>\n<p align=\"justify\">\u201cThe successful closing of Hart underscores our disciplined approach to acquisitions and highlights the strength of our healthcare system-focused growth strategy,\u201d said Hardik Mehta, CFO of Quipt. \u201cWe funded this transaction with our existing credit facility, while maintaining a conservative leverage ratio. Importantly, we will look to increase the size of our senior credit facilities, which would provide us with additional flexibility to execute on our robust pipeline, while maintaining a modest long-term leverage profile consistent with our historical financial discipline. We are excited about the opportunities ahead and are well-positioned to generate consistent organic growth, while continuing to strengthen our platform through disciplined execution.\u201d<\/p>\n<p align=\"justify\">Hart Medical current executive, Allen Hunt, stated, \u201cAs a DME provider deeply embedded in the needs of health systems, we continue to see extraordinary, untapped potential in our space. The recent wave of consolidation across key markets has made one thing clear: to remain relevant and accelerate growth in today\u2019s dynamic healthcare environment, additional scale is no longer optional, even for organizations like ours generating over $60 million annually. Recognizing this, we embarked on a rigorous search for a partner who could not only deliver the operational and technological scale we needed, but also share our commitment to serving the specialized needs of health system partners. In Quipt, we found that partner. Quipt brings more than just scale. Their patient-centered leadership, innovative mindset, and cultural alignment with our own make them an ideal match. Together, we are now positioned to seize the significant growth opportunities emerging throughout our service area.\u201d<\/p>\n<p>The Braff Group served as exclusive financial advisor for Hart.<\/p>\n<p>\n        <strong>ABOUT QUIPT HOME MEDICAL<\/strong>\n      <\/p>\n<p align=\"justify\">The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company\u2019s organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient\u2019s services, and making life easier for the patient.<\/p>\n<p align=\"justify\">\n        <em>Reader Advisories<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Readers are cautioned that the financial information regarding the Hart disclosed herein is unaudited and derived as a result of the Company\u2019s due diligence, including a review of Hart\u2019s bank statements and tax returns.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Unless otherwise specified, all dollar amounts in this press release are expressed in U.S. \u200edollars.\u200e<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Forward-Looking Statements<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Certain statements contained in this press release constitute \u201cforward-looking statements\u201d within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or \u201cforward-looking information\u201d as such term is \u200e\u200e\u200e\u200e\u200e\u200edefined in applicable Canadian securities legislation (collectively, \u201cforward-looking statements\u201d). The words \u201cmay\u201d, \u201cwould\u201d, \u201ccould\u201d, \u201cshould\u201d, &#8220;potential\u201d, \u200e\u200e\u200e\u200e\u200e\u200e\u200e&#8221;will\u201d, &#8220;seek\u201d, &#8220;intend\u201d, \u201cplan\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201coutlook\u201d, or the negatives thereof or variations of such words, and similar expressions \u200e\u200e\u200e\u200e\u200eas \u200ethey relate to the Company are intended to \u200eidentify forward-looking statements, including: post integration financial results (revenue and Adjusted EBITDA) of Hart; management\u2019s expectations for Quipt\u2019s post-closing annualized run rate; management\u2019s expectations for post-closing Adjusted EBITDA for the joint venture and the timing of such results; the Company anticipating strong margin performance throughout the year and into 2026; the Company\u2019s expectations and timing of growth; the Company\u2019s expectations regarding the impact of the acquisition of the joint venture; opportunities to increase long-term shareholder value. All statements \u200eother \u200ethan \u200estatements of \u200e\u200ehistorical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-\u200elooking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the \u200eCompany&#8217;s \u200ecurrent \u200eviews and \u200e\u200eintentions with respect to future \u200eevents, and current information available to the \u200eCompany, and \u200eare \u200esubject to \u200e\u200ecertain risks, uncertainties and \u200eassumptions, including, without limitation: the \u200eCompany successfully identifying, \u200e\u200e\u200enegotiating and \u200ecompleting additional acquisitions; operating and other financial metrics maintaining their \u200e\u200ecurrent trajectories, the Company not being impacted by any further external and unique events like the Medicare \u200e\u200e75\/25 rate cut and the Change Healthcare cybersecurity incident for the remainder of 2025; and the \u200eCompany not being subject to a material change to it cost structure. Many \u200efactors could cause the actual \u200eresults, \u200e\u200eperformance or achievements that may be \u200eexpressed \u200eor implied by such \u200eforward-looking statements to \u200evary from \u200e\u200ethose described herein should one or more \u200eof these \u200erisks or \u200euncertainties materialize. Examples of such \u200erisk \u200efactors \u200einclude, without limitation: risks related \u200eto credit, market \u200e\u200e\u200e(including equity, commodity, foreign exchange \u200eand interest \u200erate), \u200eliquidity, operational \u200e\u200e(including technology \u200eand \u200einfrastructure), reputational, insurance, \u200estrategic, \u200eregulatory, legal, \u200eenvironmental, and \u200ecapital adequacy; the \u200e\u200egeneral business and economic conditions in \u200ethe regions \u200ein which the \u200eCompany operates; \u200ethe ability of the \u200e\u200eCompany to execute on key priorities, including the \u200esuccessful \u200ecompletion of \u200eacquisitions, \u200ebusiness retention, and \u200e\u200estrategic plans and to attract, develop and retain \u200ekey \u200eexecutives; difficulty \u200eintegrating \u200enewly acquired businesses; \u200e\u200ethe ability to implement business strategies and \u200e\u200epursue business opportunities; low \u200eprofit \u200emarket segments; \u200e\u200edisruptions in or attacks (including cyber-attacks) on \u200e\u200ethe Company&#8217;s information \u200etechnology, \u200einternet, network \u200e\u200eaccess or other voice or data communications systems or \u200e\u200eservices; the evolution of \u200evarious types \u200eof fraud or other \u200e\u200ecriminal behavior to which the Company is exposed; the \u200e\u200efailure of third parties to \u200ecomply with \u200etheir obligations to \u200e\u200ethe Company or its affiliates; the impact of new and \u200e\u200echanges to, or application of, \u200ecurrent \u200elaws and regulations; \u200e\u200edecline of reimbursement rates; dependence on few \u200e\u200epayors; possible new drug \u200ediscoveries; a \u200enovel business \u200emodel; \u200edependence on key suppliers; granting of permits \u200e\u200eand licenses in a highly \u200eregulated \u200ebusiness; legal proceedings and litigation, including as it relates to the civil \u200e\u200einvestigative demand (\u201cCID\u201d) \u200ereceived from the Department of Justice; \u200eincreased competition; \u200echanges in \u200eforeign currency rates; the imposition of trade restrictions such as tariffs and retaliatory counter measures; increased \u200e\u200efunding costs and market volatility due to \u200emarket illiquidity and \u200ecompetition for \u200efunding; the \u200eavailability of funds \u200e\u200eand resources to pursue operations; \u200ecritical accounting \u200eestimates and changes \u200eto accounting \u200estandards, policies, \u200e\u200eand methods used by the Company; the Company\u2019s status as an emerging growth company and a smaller reporting company; the occurrence of \u200enatural and unnatural \u200ecatastrophic \u200eevents or health epidemics or concerns; as well as those risk factors \u200ediscussed or \u200e\u200ereferred to \u200ein the Company\u2019s disclosure \u200edocuments filed with \u200eUnited States Securities and Exchange \u200eCommission \u200e and \u200eavailable at www.sec.gov, including the Company\u2019s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and with \u200ethe securities \u200eregulatory authorities in certain provinces of \u200eCanada and \u200e\u200e\u200eavailable at www.sedarplus.com. Should any \u200efactor affect \u200ethe Company in an unexpected manner, or \u200eshould \u200e\u200e\u200eassumptions underlying the forward-looking \u200estatement prove \u200eincorrect, the actual results or events may \u200ediffer \u200e\u200e\u200ematerially from the results or events predicted. \u200eAny such forward-\u200elooking statements are expressly qualified \u200ein their \u200e\u200e\u200eentirety by this cautionary statement. Moreover, \u200ethe Company \u200edoes not assume responsibility for the \u200eaccuracy or \u200e\u200e\u200ecompleteness of such forward-looking \u200estatements. The \u200eforward-looking statements included in this \u200epress release are made as of the date of this press \u200erelease and the \u200eCompany undertakes no obligation to publicly \u200eupdate or revise \u200e\u200e\u200eany forward-looking statements, \u200eother than as \u200erequired by applicable law\u200e.\u200e<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Non-GAAP Financial Measures<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>This press release refers to \u201cAdjusted EBITDA\u201d which is a non-GAAP financial measures that does not have standardized meaning prescribed by generally accepted accounting principles in the United States. The \u200eCompany\u2019s presentation of this financial measure may not be comparable to similarly titled measures used by \u200eother companies. This financial measure is intended to provide additional information to investors concerning \u200ethe Company\u2019s performance.\u200e<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Adjusted EBITDA is calculated as net loss, and adding back depreciation and amortization, right-of-use operating lease amortization and interest, interest expense, net, provision for income taxes, certain professional fees, including those related to the CID, the loss of private issuer status, and proxy contests and other actions of activist shareholders, stock-based compensation, acquisition-related costs, change in fair value of derivative liability \u2013 interest rate swaps, loss (gain) on foreign currency transactions, and share of loss in equity method investment.<\/em>\n      <\/p>\n<p>For further information please visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FBsOSd4CT9YsbyZb1gdjbllgXqbXIVraT2wIOa4iahPdKIgSH2ttppobAXV2oeax0zEFoivivYoIIoJPJaMSFk0Q7bZKvyfsraE9E_Ej7jNeVK-8Yy7MB6redOFRn97s\" rel=\"nofollow\" target=\"_blank\">www.quipthomemedical.com<\/a>, or contact:<\/p>\n<p>Cole Stevens<br \/>VP of Corporate Development<br \/>Quipt Home Medical Corp.<br \/>859-300-6455<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4yyxrKD8D93BYuTE3UBtqP90A6N55EfVPo0P0oX8oncyxK76RumN27w0d8zxhfzPHBUw_zv2wSC1_scJk6V8LHpi6kYrMoFacaIEah4rWECS5Ely2uVwIyHa8YSBWrDk\" rel=\"nofollow\" target=\"_blank\">cole.stevens@myquipt.com<\/a><\/p>\n<p>Gregory Crawford<br \/>Chief Executive Officer<br \/>Quipt Home Medical Corp.<br \/>859-300-6455<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=lSvYJaIUphrV1Sd2-8dIN4trDdQB6gfPc7QO0g_r1Pz9UPyqB7dvIvRlgbMhnIlhS5pIaNadLqnMAvBILq9CQVS0CMQjyt5qoQL1iRV6InGt21U4Ec9rWBYCXjBOGuc4\" rel=\"nofollow\" target=\"_blank\">investorinfo@myquipt.com<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUyMjQ4MyM3MTI3NDk3IzIwODgwMDI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MDliNjFjOGQtZTJiOS00NWFiLTgyMzUtZTNmYWI0ZjhkODM5LTEwOTk1NzMtMjAyNS0wOS0wMy1lbg==\/tiny\/Quipt-Home-Medical-Corp-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Transaction Strengthens Health System Partnerships, Expands Midwest Footprint, and Reinforces Long-Term Growth Strategy CINCINNATI, Sept. 03, 2025 (GLOBE NEWSWIRE) &#8212; Quipt Home Medical Corp. (\u201cQuipt\u201d or the \u201cCompany\u201d) (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, today announced the closing of its previously announced joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment (\u201cHart\u201d). Quipt has acquired a 60% ownership interest in Hart, with the remaining 40% interest collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital. Transaction Highlights : Quipt has acquired a 60% ownership interest in Hart for total consideration of $17.4 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-881407","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Transaction Strengthens Health System Partnerships, Expands Midwest Footprint, and Reinforces Long-Term Growth Strategy CINCINNATI, Sept. 03, 2025 (GLOBE NEWSWIRE) &#8212; Quipt Home Medical Corp. (\u201cQuipt\u201d or the \u201cCompany\u201d) (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, today announced the closing of its previously announced joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment (\u201cHart\u201d). Quipt has acquired a 60% ownership interest in Hart, with the remaining 40% interest collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital. Transaction Highlights : Quipt has acquired a 60% ownership interest in Hart for total consideration of $17.4 &hellip; Continue reading &quot;Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-03T12:22:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUyMjQ4MyM3MTI3NDk3IzIwODgwMDI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue\",\"datePublished\":\"2025-09-03T12:22:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\\\/\"},\"wordCount\":1894,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTUyMjQ4MyM3MTI3NDk3IzIwODgwMDI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/quipt-home-medical-completes-strategic-acquisition-of-hart-medical-adding-60-million-in-revenue\\\/\",\"name\":\"Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue - 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(\u201cQuipt\u201d or the \u201cCompany\u201d) (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, today announced the closing of its previously announced joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment (\u201cHart\u201d). Quipt has acquired a 60% ownership interest in Hart, with the remaining 40% interest collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital. 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