Quipt Home Medical Corp., a U.S.-based home medical equipment provider focused on end-to-end respiratory care, announced on September 3, 2025, the closing of a joint venture transaction with three major health systems and two hospitals to acquire Hart Medical Equipment.

Quipt acquired a 60 percent ownership interest in Hart, with the remaining 40 percent collectively held by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital. Total consideration for the 60 percent stake was $17.4 million, funded by senior credit facilities.

Hart, headquartered in Michigan, is a leading nationally accredited durable medical equipment supplier with over 20 years of experience. It generated approximately $60 million in revenue and $7 million in Adjusted EBITDA for the twelve months ended June 2025, operating 29 branch locations across Michigan and Ohio. Hart expects to generate $10+ million in annual Adjusted EBITDA over the next six to nine months.

The transaction expands Quipt's Midwest footprint, giving it immediate entry into Michigan and new territories in Ohio while embedding the company deeper into health system discharge pathways. Upon completion, Quipt's expected annualized run-rate revenue reaches approximately $300 million. The Braff Group served as exclusive financial advisor to Hart Medical Equipment.