Protech ‘ready to seize on industry forces’

Friday, May 22, 2020

CINCINNATI – Protech Home Medical reported revenues of $24.1 million in the second quarter of 2020, a 16% increase compared to the same period in 2019. Adjusted EBITA for the quarter was $4.9 million. Net income for the quarter was $1.6 million, compared to a loss of $0.5 million for the same period in 2019. The company received more than $7.5 million in payments related to the CARES Act. “These second quarter fiscal 2020 results showcase the resiliency of our business model, and I could not be prouder of our whole team,” said CEO and Chairman Greg Crawford. Protech’s supply chain for critical equipment has remained strong during the COVID-19 pandemic, officials say, helping the company to transition patients out of the hospital system to free up beds. “In the midst of the COVID-19 pandemic, the emphasis on the need for in-home health care has been magnified, and robust industry tailwinds have developed as a result,” Crawford said. “We believe this pandemic has underscored the importance of Protech’s mission going into the future, and as a dynamic home health care provider, we are ready to seize on these industry forces.”