World News: 11:38 GMT Wednesday 14th August 2019. [InfuSystem Holdings Inc. via Globe Newswire via SPi World News]
MADISON HEIGHTS, Michigan, Aug. 14, 2019 (GLOBE NEWSWIRE) -- InfuSystem Holdings, Inc. (NYSE American LLC: INFU) (“InfuSystem” or the “Company”), a leading national provider of infusion pumps and related services for the healthcare industry in the United States and Canada, today reported financial results for the second quarter ended June 30, 2019.
Commenting on the second quarter, Richard DiIorio, chief executive officer of InfuSystem, said, “We are operating according to plan, and as discussed in prior periods, we are starting to see the impact of the market share gains in our oncology business that began last year with elastomerics and is continuing this year with electronic pumps. We are also benefiting from growth in our pain management and infusion products markets. In addition to the market share gains, we are continuing to execute on a multiyear upgrade in revenue cycle management practices. Every additional dollar collected for services that have already been delivered is additive to revenue, earnings, EBITDA and cash flow.”
Mr. DiIorio continued, “I am, of course, pleased with our results in the first half of the year. The first phase involves primarily the market share gains made last year from elastomerics. In the second phase, we are completing the larger market share gains in electronic pumps resulting from our largest direct competitor changing its business model. The financial impact from the second phase market share gains will be seen in our financial results for the second half of 2019 and the first half of 2020.”
Mr. DiIorio concluded, “We continue to build the infrastructure to absorb this growth by adding strong talent to our already outstanding team, investing in our physical facilities and adding to and replenishing our already best-in-class fleet of electronic pumps. The benefits of these investments will not only enable our current growth, but we expect to contribute to long-term profitability and ongoing value creation for our shareholders.”
Non-GAAP Adjusted EBITDA Margin is defined as Non-GAAP Adjusted EBITDA as a percentage of GAAP Net Revenues.
Globe Newswire: 11:38 GMT Wednesday 14th August 2019
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