Viemed Healthcare increases guidance

Wednesday, April 8, 2020

LAFAYETTE, La. – Viemed Healthcare now expects 2020 net revenues to be about $23.7 million to $23.9 million as a result of increased sales of ventilators.

The company is fulfilling ventilation orders in the more severely COVID-19 impacted areas of Louisiana and New York, and anticipates fulfilling a larger amount of orders during the second quarter.

“We recognize that being one of the largest home-based ventilator companies in the country puts us in a unique position to help with the current pandemic,” said CEO Casey Hoyt. “We have long said our ventilator inventory and our network of respiratory therapists around the country are our two largest assets. Our team is working tirelessly on all potential solutions to help the government and health systems during this COVID-19 crisis.”

Viemed says sales of previously used equipment will be recognized in gain on disposal of property and equipment in its financial statements and is currently estimated to be approximately $1.4 million to $1.5 million.

The company also says its patient attrition rate has not been negatively impacted by the company modifying its clinical protocols to limit unnecessary patient encounters. 

“I am very proud to see that the quick actions we have taken so far appear to be keeping our growing patient base comfortable in their homes and our employees safe, and there appears to be only positive impacts from our modifications of the treatment regimens,” Hoyt said.