Over the next six years, the global home healthcare market could be worth $839 billion, according to Zion Market Research. If that’s the case, it could be a major catalyst for companies, such as Quipt Home Medical Corp. (NASDAQ: QIPT) (TSXV: QIPT), which just announced a national insurance contract with a top five health insurer in the United States. As also noted by Zion Market Research, “With increasing health awareness among people, increase in a number of people diagnosed with chronic diseases such as diabetes cardiac disorders and respiratory diseases, the demand for home healthcare market is expected to grow in the near future.” That news could also be beneficial for health companies, including
UnitedHealth Group (NYSE: UNH), Humana Inc. (NYSE: HUM), Anthem Inc. (NYSE: ANTM), and Cigna Corp. (NYSE:CI).
Quipt Home Medical Corp. (NASDAQ: QIPT) (TSXV: QIPT) Just Announced a National Insurance Contract with a Top Five U.S. Health Insurer
Quipt Home Medical Corp., a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is very pleased to announce the execution of a national insurance contract with a top five health insurer in the United States.
“The execution of this national insurance contract with the largest commercial payer in the United States is a major milestone for Quipt and serves as a further accelerant to our ambitious long term growth plans. The national contract is expected to be meaningful as we continue to expand into new states, broadening our operating footprint over a much wider geography. When we make an acquisition, we will be able to immediately leverage the national contract, which is extremely powerful in terms of capturing as many eligible patients as possible,” said Greg Crawford, Chairman and CEO of Quipt.
“Moreover, we feel there's still a lot of opportunity for us to go after more national contracts, which would provide the opportunity to add additional payers, and we will continue to work with other large commercial payers to help them better understand our strong patient centric model and the benefits to patients and payors alike. The new national insurance contract, extremely favorable demographics, and our robust operating platform, put us in an industry leading position to provide high touch at home clinical respiratory services throughout the country.”
Other related developments from around the markets include:
Strong and well-balanced growth continued across UnitedHealth Group in the first quarter of 2022. “Disciplined execution of our long-term strategy, with a sharp focus on ensuring access to care for the people we serve, enabled us to deliver high-quality, diversified growth across Optum and UnitedHealthcare during this first quarter of 2022,” said Andrew Witty, chief executive officer of UnitedHealth Group. Based upon the first quarter performance and enterprise-wide growth outlook, the Company increased its full year net earnings outlook to $20.30 to $20.80 per share and adjusted net earnings to $21.20 to $21.70 per share.
Humana Inc. announced that its Board of Directors has declared a cash dividend to stockholders of $0.7875 per share payable on July 29, 2022 to stockholders of record as of the close of business on June 30, 2022.
Anthem Inc. reported first quarter 2022 results reflecting strong financial performance, including double-digit top and bottom line growth. "Our strong momentum across all our businesses is evidence that our transformation to become a lifetime, trusted health partner continues to drive our growth and accelerate our capabilities focused on whole person health," said Gail K. Boudreaux, President and CEO. "The shared commitment of our more than 98,000 associates to our purpose to improve the health of humanity, is both profound and powerful, and inspires a culture of performance that remains focused on customers and communities we serve." The Company now expects GAAP net income to be greater than $26.43 per share, including approximately $1.97 per share of net unfavorable items. The Company now expects full-year adjusted net income to be greater than $28.40 per share, based on stronger than expected first quarter results.
Cigna Corp. announced that Brian Evanko, executive vice president and chief financial officer, will present at the BofA Securities 2022 Healthcare Conference on May 11, 2022 in Las Vegas, NV. Cigna's presentation is expected to begin at approximately 1:40 p.m. ET.
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