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Quipt Home Medical Corp., through its subsidiary QHM Holdings, entered an agreement to acquire a 60% membership interest in IRB Medical Equipment, LLC dba Hart Medical Equipment, a Michigan-based durable medical equipment provider. The purchase price is approximately $17-18 million based on a $35 million enterprise value.
Quipt Home Medical Corp. closed the acquisition of a 60% ownership interest in Hart Medical Equipment for $17.4 million. Hart generated approximately $60 million in annual revenue and serves over 67,000 patients monthly.