Johnson City, Tenn.-based Ballad Health has sold a durable medical equipment business to Quipt Home Medical, a home medical equipment provider.
Quipt purchased the business that Ballad wholly owned for $1.6 million, according to a July 7 news release from the company. As part of the agreement, Quipt entered into a preferred provider agreement with Ballad, aimed at “facilitating seamless post-acute care coordination across the system’s hospitals.”
“I anticipate that this transaction will help establish a scalable playbook that we can deploy across the country, partnering with leading health systems to integrate care, reduce readmissions, and support patients in the home setting,” Quipt CEO and Chairman Greg Crawford said in the release.
Ballad Health did not return a message seeking comment on the transaction.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
