Protech checks in with shareholders

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Tuesday, July 21, 2020

CINCINNATI – Protech Home Medical expects to report revenues of $25.6 million to $25.9 million for the third quarter ended June 30. The company expects to report an adjusted EBTIDA of $5.3 million to $5.5 million, and gross margins similar to the three months ended March 31. “Given the ongoing COVID-19 pandemic, we felt it extremely important to continue to keep our shareholders apprised with our financial performance in real time,” said Greg Crawford, CEO and chairman. “We look forward to sharing our full financial results and commentary in August.”Protech says it has now reached $100 million in run-rate revenue. The company says its revenues and adjusted EBITDA continue to accelerate at a higher rate than other providers. “We are confident in our ability to continue with this trajectory and our focus remains driven by process improvement and cost rationalization,” said Hardik Mehta, CFO. Protech provides home delivery and online set up of equipment for primarily chronic conditions, operating 42 locations in 10 states. It has a network of 17,000 referring physicians and 85,000 active patients.