08:19 AM EDT, 09/03/2025 (MT Newswires) -- Quipt Home Medical ( QIPT ) said Wednesday that it has completed its previously announced joint venture deal with three major health systems and two hospitals to acquire Hart Medical Equipment.

Quipt has acquired a 60% stake in Hart for $17.4 million, which was funded by senior credit facilities, the company said. The remaining 40% interest is collectively controlled by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, as well as Wood County Hospital and The Bellevue Hospital, Quipt said.

Hart generated $60 million in annual revenue and $7 million in adjusted Ebitda for the fiscal year ended June, Quipt said.