Viemed sees double-digit growth in core biz

Friday, November 6, 2020

LAFAYETTE, La. – Viemed Healthcare reported total revenues of $33.4 million for the third quarter of 2020, including $8.6 million in product sales and services related to the ongoing COVID-19 pandemic. 

Revenues attributable to the company’s core business were $24.9 million for the quarter, a 22% increase compared to the same quarter in 2019. 

“This year has challenged the health care system in an unprecedented manner with the ongoing respiratory pandemic creating a strain on the acute-care facilities around the country,” said Casey Hoyt, CEO. “We all look forward to a day where the pandemic is behind us, and until then, we will continue to serve as a resource, while delivering value to our shareholders.” 

Viemed reported adjusted EBITDA of $7.7 million and an all-time high cash balance of $32.4 million. 

Total revenues for the nine months ended Sept. 30, 2020, were $100.1 million and revenues attributable to the core business were $70.8 million.