Viemed Healthcare, Inc. (NASDAQ: VMD) has completed its acquisition of Illinois-based Lehan's Medical Equipment for a base purchase price of $26 million, subject to customary adjustments, plus estimated contingent payments of $2.2 million. The transaction expands Viemed's post-acute respiratory healthcare services across the Northern Illinois and West Chicagoland markets.
Strategic Expansion in Home Medical Equipment
"We are pleased to close the acquisition of Lehan and bring this talented and highly motivated team into the Viemed family," said Viemed Chief Executive Officer Casey Hoyt. "Lehan's 80-year track record and brand recognition in a large and fast-growing market along with its preferred contracts and fulfillment expertise make for a powerful combination with our national scale, unique care delivery model and existing payer relationships to serve a broader patient population."
The acquisition brings together Lehan's established regional presence with Viemed's national infrastructure for in-home clinical care delivery. Lehan operates three full-service locations in the Northern Illinois area and three sleep/CPAP setup locations in the West Chicagoland area, including one facility in Wisconsin.
Financial Performance and Funding
In 2024, Lehan generated net revenues of approximately $25.7 million and Adjusted EBITDA of approximately $7.4 million. Viemed funded the acquisition through a combination of cash on hand and borrowings from its existing credit facilities.
The company anticipates increasing its previously issued full-year 2025 guidance range to account for the expected contribution from this acquisition when it reports earnings results for the quarter ended June 30, 2025.
Service Portfolio Enhancement
Lehan's Medical Equipment specializes in home medical equipment and products for women's health, including breast pumps. The organization provides rental, sales, and resupply of CPAPs and other respiratory devices, as well as sales of other medical equipment. This service portfolio complements Viemed's existing focus on non-invasive ventilators (NIV), sleep therapy, staffing, and other complementary products and services.
Viemed positions itself as an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, emphasizing efficient and effective in-home treatment with clinical practitioners providing therapy, education and counseling to patients in their homes using high-touch and high-tech services.
