EXCLUSIVE: Quipt CEO Greg Crawford Talks Acquisitions, Growth On 'Power Hour'

Quipt Home Medical Corp QIPT announced Wednesday it recently acquired three separate entities with combined operations in California, Missouri, Arkansas and Mississippi. The deal is part of an ongoing national expansion effort focused on economically growing its operating footprint in order to serve as a leader in respiratory homecare across the United States.

Quipt is a full-service home respiratory provider providing devices to patients inside their homes, Quipt CEO Greg Crawford said Wednesday in an exclusive interview on Benzinga's YouTube show "Power Hour."

The company operates 55 locations in 15 states, Crawford noted. "We have a pristine balance sheet and a full pipe of acquisitions," the Quipt CEO said.

Recent Acquisitions:  The deal removes the insurance acceptance barrier and allows the company to accept commercial insurances in those states, he said. 

The company felt the deal offered a great way for Quipt to deploy its capital, Crawford told Benzinga. 

Quipt Growth: Despite the headwinds of the COVID-19 pandemic, Quipt was able to grow by about 8.5%, Crawford said. Year-to-date, the company has already grown by about 11%, he added.

The Quipt CEO is most excited about the growth potential via acquisitions, he said, also noting there are more than 6,000 smaller providers out there that could be acquired. The company looks for respiratory-focused companies with a solid portfolio of insurance contracts, Crawford said. 

QIPT Price Action: Quipt has traded as high as $7.72 and as low as $5.42 since it was uplisted to the Nasdaq on May 27.

At last check Wednesday, the stock was up 1.92% at $5.84.

See the full interview here: