Quipt Home Medical (QIPT) Company Report

Quipt Home Medical Corp. received a final order from the Supreme Court of British Columbia approving a plan of arrangement for its acquisition.
Affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC will acquire all common shares of the Company for US$3.65 per Share in cash.
The acquisition is expected to be completed by March 16, 2026.
Following the completion, Quipt's shares will be delisted from the Toronto Stock Exchange and the Nasdaq Capital Markets.

6 days ago

8-K

Quipt Home Medical Receives Final Court Approval for Acquisition

QIPT

M&A

Delisting/Listing Issues

Takeover Bid

Quipt Home Medical Corp. has received the final substantive court approval from the Supreme Court of British Columbia for its previously announced plan of arrangement.
Under the arrangement, affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC will acquire all outstanding common shares for cash consideration of US$3.65 per Share.
The arrangement is expected to be completed by March 16, 2026, after which the shares will be delisted from the Toronto Stock Exchange and Nasdaq Capital Markets.

6 days ago

Press Release

Quipt Home Medical Corp. Shareholders Approve Acquisition

QIPT

M&A

Proxy Vote Outcomes

Takeover Bid

Quipt Home Medical Corp. shareholders approved the special resolution for the acquisition of all outstanding shares by affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC.
The acquisition is for US$3.65 per Share in cash.
The Arrangement Resolution was approved by 98.9% of the votes cast by shareholders and 98.7% of the votes cast after excluding "interested party" votes.
The company is scheduled to seek a final order of the Supreme Court of British Columbia approving the Arrangement on March 5, 2026.

Mar 3, 2026, 10:06 PM

8-K

Quipt Home Medical Shareholders Approve Acquisition

QIPT

M&A

Proxy Vote Outcomes

Takeover Bid

Quipt Home Medical Corp. shareholders approved the Arrangement Resolution for the acquisition of all outstanding shares by affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC at a special meeting held on March 3, 2026.
The acquisition will be for cash consideration of US$3.65 per Share.
The Arrangement Resolution was approved by 98.9% of the shares voted, and 98.7% after excluding votes from interested parties.
The Company is scheduled to seek a final order of the Supreme Court of British Columbia approving the Arrangement on March 5, 2026, with completion expected in the near term, assuming all other terms and conditions are satisfied.

Mar 3, 2026, 10:00 PM

Press Release

Quipt Home Medical Corp. Schedules Special Meeting for Acquisition Vote

QIPT

M&A

Takeover Bid

Proxy Vote Outcomes

Quipt Home Medical Corp. (QIPT) has scheduled a special meeting for March 3, 2026, for shareholders to vote on a plan of arrangement.
Affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC will acquire all outstanding shares for US$3.65 per Share in cash. This represents a 54% premium to Quipt's 30-day VWAP as of December 12, 2025.
The Board of Directors unanimously recommends that shareholders vote FOR the Arrangement Resolution.
The resolution requires approval from at least 66⅔% of votes cast by shareholders and a simple majority excluding interested parties.

Feb 4, 2026, 10:00 PM

Press Release

Quipt Home Medical Corp. Reports Fourth Quarter and Fiscal Year 2025 Financial Results

QIPT

Earnings

Revenue Acceleration/Inflection

Quipt Home Medical Corp. reported a strong fourth quarter for 2025, with revenue increasing by 11% to $68.3 million and Adjusted EBITDA also rising by 11% to $14.9 million compared to Q4 2024.
For the full fiscal year 2025, revenue was $245.4 million, a slight decrease from $245.9 million in fiscal year 2024, while Adjusted EBITDA decreased by 3% to $55.9 million.
The company's net loss for Q4 2025 was ($3.6) million, or ($0.08) per diluted share, and for fiscal year 2025, it was ($10.7) million, or ($0.24) per diluted share.
Operational growth included a 10% increase in the unique patient base to 346,000 and a 7% increase in unique set-ups/deliveries to 917,000 for fiscal year 2025.
Quipt Home Medical Corp. maintained a conservative balance sheet with a Net Debt to Adjusted EBITDA Leverage Ratio of 1.8x as of September 30, 2025, and reported $12.9 million in cash on hand.

Dec 15, 2025, 12:51 PM

8-K

Quipt Home Medical Enters Definitive Agreement for Acquisition

QIPT

M&A

Takeover Bid

Quipt Home Medical Corp. has entered into a definitive agreement to be acquired by a special purpose acquisition vehicle funded by affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC.
Quipt shareholders are set to receive US$3.65 per share in cash for all issued and outstanding common shares.
The transaction values Quipt at approximately US$260 million, including existing outstanding debt.
The per share purchase price represents a 162% premium to Quipt’s unaffected stock price on May 19, 2025, and a 54% premium to Quipt’s 30-day volume-weighted average price (VWAP) as of December 12, 2025.
Following the completion of the transaction, Quipt will become a privately held company and cease to report in the U.S. and Canada.

Dec 15, 2025, 12:35 PM

8-K

Quipt Home Medical Reports Q4 and Fiscal Year 2025 Financial Results

QIPT

Earnings

Revenue Acceleration/Inflection

Quipt Home Medical Corp. reported Q4 2025 revenue of $68.3 million, an 11% increase compared to Q4 2024, with strong sequential organic revenue growth of 5% from Q3 2025. Adjusted EBITDA for Q4 2025 also increased by 11% to $14.9 million.
For the full fiscal year 2025, revenue was $245.4 million, a slight decrease from $245.9 million in fiscal year 2024, and Adjusted EBITDA was $55.9 million, a 3% decrease from $57.7 million in fiscal year 2024.
The company recorded a net loss of ($3.6) million, or ($0.08) per diluted share, for Q4 2025, and a net loss of ($10.7) million, or ($0.24) per diluted share, for fiscal year 2025.
Operationally, the customer base increased 10% year over year to 346,000 unique patients served in fiscal year 2025, and unique set-ups/deliveries increased 7% to 917,000.

Dec 15, 2025, 12:30 PM

Press Release

Quipt Home Medical to be Acquired by Kingswood Capital Management and Forager Capital Management Affiliates

QIPT

M&A

Takeover Bid

Delisting/Listing Issues

Quipt Home Medical Corp. has entered into a definitive agreement to be acquired by a special purpose acquisition vehicle funded by affiliates of Kingswood Capital Management, L.P. and Forager Capital Management, LLC.
Shareholders will receive US$3.65 per share in cash, representing a 162% premium to the unaffected stock price on May 19, 2025, and a 54% premium to the 30-day VWAP as of December 12, 2025.
The all-cash transaction values Quipt at approximately US$260 million, including existing outstanding debt.
The acquisition is anticipated to close in the first half of 2026, after which Quipt will become a privately held company and cease public reporting.
The Board unanimously recommends the transaction, with key shareholders representing approximately 20.9% of outstanding shares having committed to vote in favor.

Dec 15, 2025, 12:30 PM

Press Release

Forager Capital Management Comments on Quipt Home Medical Acquisition Efforts

QIPT

M&A

Takeover Bid

Legal Proceedings

Forager Capital Management, a shareholder with 9.7% beneficial ownership in Quipt Home Medical Corp., states that Quipt's Board is motivated by self-serving tactics rather than shareholders' best interests.
Forager reiterates its $3.10 per share offer, which it claims represents a 120% premium to the unaffected trading price and a 19x multiple of FCF.
The offer was reduced from an initial $3.90 per share due to a material decline in Quipt's trailing twelve-month free cash flow from $13.1 million to $10.8 million, and the Board's "massively dilutive, self-serving equity grants".
Forager asserts that the Board has avoided constructive engagement, failing to respond to multiple acquisition proposals and phone calls, and instead sued Forager over an expired confidentiality agreement.
Forager believes Quipt's limited float, inability to grow organically, and high public company costs prevent it from succeeding as a standalone public company.