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AdaptHealth - Expanding Nationwide Footprint

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Shares of AdaptHealth Corp. (AHCO) have lost nearly 29% of their value so far this year and trade around $17.

AdaptHealth is a provider of patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services. More than 10,000 items from 150 vendors are offered by the company.

Over the years, the company has expanded its national footprint, and currently provides needed medical equipment and supplies to over 3.8 million patients in more than 750 locations across 47 states.

AdaptHealth completed the acquisition of AeroCare, a national technology-enabled respiratory and home medical equipment (HME) distribution platform in the United States, last February, thereby significantly enhancing its scale and geographic reach.

In 2021, the company added 20 HME providers and 2 providers of diabetes management supplies to its portfolio, excluding AeroCare.

Despite the pandemic challenges, 2021 was a remarkable year for AdaptHealth, with the company turning a profit on revenue growth of over 130%.

For the twelve months ended Dec.31, 2021, the net income was $158.15 million or $0.67 per share on net revenue of $2.45 billion. This compared with a net loss of $194 million or $3.08 per share and revenue of $1.06 billion in 2020.

Based on the current business and market trends, AdaptHealth expects net revenue for 2022 to be in the range of $2.825 billion to $3.025 billion, reflecting a growth of 16% to 23% over 2021.

Cash position:

The company ended the year 2021 with cash & cash equivalents of nearly $150 million and total debt of $2.27 billion.

AdaptHealth made its debut on the NASDAQ in July 2019 through a merger with DFB Healthcare Acquisitions Corp, a special purpose acquisition company.

AHCO has traded in a range of $13.95 to $38.94 in the last 1 year. The stock closed Monday's trading at $17.43, up 7.59%.

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