AdaptHealth is selling its Complex Rehab Technology (CRT) assets to National Seating & Mobility (NSM).
In an Aug. 6 earnings call covering the second quarter of 2024, AdaptHealth’s CFO Jason Clemens said, “For the HME [home medical equipment] and supplies to the home revenue categories, we continue to revaluate products that do not fit our strategic roadmap and do not drive ancillary volumes in our core areas of sleep, respiratory and diabetes.
“To that end, we recently signed a definitive agreement to sell certain [Complex] Rehab Technology assets to National Seating & Mobility [NSM], a well-respected, national mobility solutions provider with over 30 years of experience in the CRT category.”
AdaptHealth’s CRT division, AdaptRehab, has provided CRT power wheelchairs and power seating, ultralightweight wheelchairs, manual tilt-in-space wheelchairs, seating and positioning, pediatric wheelchairs and CRT strollers, adaptive bathing equipment, and standard power chairs and scooters.
“For AdaptHealth, these products represented a small amount of revenue from individual acquisitions over the years, but in aggregate represent about a point of enterprise revenue,” Clemens said. “We are looking forward to working closely with NSM to ensure a smooth transition.”
During the Q&A session, Clemens added, “We think that National Seating & Mobility is going to be a terrific owner for that business. We think they’re going to take very [good] care of [those] patients. We think that they will find, under their management and their focus, improvement in growth, improvement in operating margin. That business will be in good hands, we believe.”
AdaptHealth, an HME provider headquartered in Plymouth Meeting, Pennsylvania, focuses on the diabetes, respiratory, and sleep apnea equipment segments.
