Viemed Healthcare

What Viemed Healthcare does

Viemed Healthcare (VieMed, Inc.; NASDAQ/TSX: VMD) is a U.S. home respiratory care and disease management platform founded in 2006 and headquartered in Lafayette, Louisiana. The company provides non-invasive ventilation (NIV), airway clearance, oxygen therapy, sleep apnea (CPAP/BiPAP) services, in-home sleep testing, ALS/neuromuscular support, behavioral health coaching, and adjunct healthcare staffing to more than 150,000 patients across all 50 U.S. states (actively in 45). Its core differentiator is a high-touch clinical service model layered on top of a proprietary connected-health platform, VieMed Engage, which combines tablet-based video access to respiratory therapists, Bluetooth-enabled remote patient monitoring of vital signs, and a structured disease-management framework called PACE. The platform supports two-way clinician-patient communication, daily assessments, and remote optimization of equipment settings.

The business operates a recurring rental revenue model anchored in durable medical equipment (DME) and clinical services reimbursed primarily by Medicare, Medicaid, and commercial payors. Revenue is diversified across multiple streams: NIV ventilator rental (48% of 2025 revenue, down from 87% in 2019), sleep therapy and PAP resupply (21% of revenue, serving 35,938 patients at +57% YoY), airway clearance and secretion management, maternal health services added via the July 2025 Lehan's Medical Equipment acquisition ($9M in 2025 revenue), and healthcare staffing through the Joint Commission-certified VieMed Healthcare Staffing (VHS) subsidiary. Distribution is dual-channel: enterprise field sales targeting health systems, hospitals, ACOs, and payors through equity JVs and preferred DME partnerships, alongside a direct-to-consumer channel for patient onboarding, CPAP resupply, and home sleep testing.

Financially, Viemed is a scaled, profitable mid-cap healthcare services company. FY2025 net revenue reached $270.3M (+21% YoY), adjusted EBITDA was $61.4M (a record), net income was $14.9M (+33% YoY) marking the ninth consecutive year of positive net income, and free cash flow was $28.1M (+141% YoY). Q1 2026 revenue was $75.4M (+28% YoY) and management guided FY2026 to $310–320M in revenue and $65–69M in adjusted EBITDA. The company is net debt-free with $13.5M in cash and has authorized a 5% share repurchase program through March 2027. Recent regulatory tailwinds include a favorable ventilator National Coverage Determination and CMS Competitive Bidding Exclusion that protect the core NIV rental economics.

Name

Viemed Healthcare

Legal name

VieMed, Inc.

Website

https://viemed.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Viemed Healthcare (NASDAQ/TSX: VMD) is a U.S. home respiratory care and disease management company providing non-invasive ventilation, sleep therapy, and connected remote patient monitoring to more than 150,000 patients across all 50 states.

Ownership category

akta.pro rank

Product category

Home Respiratory Care Services

NAICS

Home Health Care Services (62161), Home Health Equipment Rental (532283)

SIC

Services-Home Health Care Services (8082), Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047), Services-Misc Health & Allied Services, Nec (8090)

akta.pro primary industry

Home Ventilation, Oxygen Therapy & Respiratory DME Clinical Management (HLAKANAM)

akta.pro secondary industries

Home Respiratory & Sleep Therapy Providers (DME-Integrated) (HLAFAEAF), Home Respiratory & Ventilator Care (Skilled) (HLADAFAI), Cardiac & Pulmonary Clinical Home Health (e.g., CHF/COPD) (HSABACAI), Home Health Remote Patient Monitoring & Virtual Nursing Providers (HLAFAEAN), Virtual Nursing, Telemonitoring & Command Center Platforms (HLACAFAH)

Keywords

• Home respiratory care
• Non-invasive ventilation
• Durable medical equipment
• Remote patient monitoring
• Sleep therapy services

Headquarters

HQ city

La Jolla

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Home Medical Equipment Rental - Ventilators: Rental revenue from non-invasive ventilation (NIV) equipment and ventilators for COPD and chronic respiratory failure patients. Ventilator rentals declined from 87% of revenue in 2019 to 48% in 2025 as company diversifies.
2. Sleep Therapy and PAP Resupply: CPAP therapy services and supply resupply for sleep apnea patients. Includes PAP patient management with sleep coaches, equipment provision, and recurring supply deliveries. Sleep business grew 57% year-over-year to 35,938 PAP patients, now representing 21% of net revenue.
3. Maternal Health Services: Services for maternal health patients following Lehan acquisition. Contributed approximately $9 million in 2025 revenue. Expansion into markets beyond Lehan's original footprint.
4. Healthcare Staffing: Healthcare staffing services through VieMed Healthcare Staffing (VHS) subsidiary, placing physicians, APPs, nurses, respiratory therapists, and behavioral health professionals with healthcare organizations nationwide.
5. Airway Clearance and Secretion Management: Rental and sale of airway clearance vests and secretion management devices for patients with bronchiectasis, COPD, cystic fibrosis, and other chronic respiratory conditions.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Viemed Healthcare provides in-home respiratory care and chronic disease management services, primarily renting non-invasive ventilators and related durable medical equipment (DME) to patients with COPD, chronic respiratory failure, neuromuscular diseases, and obstructive sleep apnea. The company complements equipment rental with 24/7 licensed respiratory therapist support, CPAP/BiPAP therapy and resupply, in-home sleep testing, behavioral health coaching, and remote patient monitoring via its proprietary VieMed Engage connected health platform.

Product overview

Viemed Healthcare operates as a comprehensive in-home healthcare platform offering multiple complementary services. The core platform (VieMed) provides respiratory care and disease management services including non-invasive ventilation (NIV), airway clearance, oxygen therapy, and ALS support. This is augmented by Sleep Therapy services through Home Sleep Delivered for in-home sleep testing and CPAP management, Behavioral Health Services providing LCSW support, and Connected Health platforms for remote patient monitoring via proprietary Engage technology. The PACE Program delivers structured respiratory disease management. Additional subsidiaries include Healthcare Staffing (VHS), Lehan's Medical Equipment (Midwest expansion), and Home Medical Products. The company serves patients across all 50 U.S. states, providing 150,000+ patients with 24/7 care from licensed respiratory therapists, clinicians, and licensed clinical social workers.

Differentiator

Problem solved

Functional benefit

Brands

• VieMed Healthcare Staffing (VHS): Healthcare staffing services supporting recruitment needs of healthcare organizations across the country; certified by the Joint Commission
• Home Sleep Delivered
• Home Medical Products
• Lehan's Medical Equipment
• PACE Program
• VieMed Engage

Products and services

• VieMed Respiratory / Home Disease Management
• PACE Program
• Sleep Therapy Services (CPAP/BiPAP)
• Home Sleep Delivered
• Behavioral Health Services
• Connected Health / Remote Patient Monitoring
• ALS & Neuromuscular Disease Services
• CPAP Supplies & Resupply
• VieMed Healthcare Staffing (VHS)
• Lehan's Medical Equipment (Maternal Health Services)

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Lehan's Medical EquipmentcoreStrategic or Co-development Partner · 1 July 2025Acquisition completed July 2025 for approximately $29.2 million, expanding Viemed's presence in the Midwest with five Illinois locations. Lehan serves as blueprint for scaling maternal health nationally. Contributed approximately $9 million in 2025 revenue.

Scale indicators18 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Lincare Holdings: Lincare is a leading U.S. supplier of home respiratory therapy including oxygen, nebulizers, ventilation, and sleep services, directly comparable to Viemed in the home respiratory DME category with overlapping payor mix and clinician-supported patient model.
• AdaptHealth: AdaptHealth is a national home medical equipment provider operating across sleep, oxygen, ventilation, and respiratory DME, directly comparable to Viemed's core home respiratory/rentals business and diversified DME model across all 50 U.S. states.
• Apria Healthcare: Apria (now part of Owens & Minor's Patient Direct segment) is one of the largest U.S. providers of home respiratory therapy, sleep, and DME services and competes directly with Viemed in non-invasive ventilation, CPAP, and home oxygen.
• Rotech Healthcare: Rotech is a U.S. national home respiratory care and DME supplier focused on oxygen, ventilation, and sleep therapy, directly competing with Viemed in home ventilation, oxygen therapy, and PAP resupply for chronic disease patients.

Broad incumbents

• ResMed: ResMed is a global incumbent in sleep apnea (CPAP/APAP) and connected health, with growing overlap into home ventilation and remote monitoring. ResMed competes with Viemed in sleep/PAP resupply and increasingly in the broader home respiratory ecosystem; a VieMed director also leads ResMed's Home Health & Hospice Division.
• Option Care Health: Option Care Health is a leading U.S. provider of home and alternate-site clinical services (primarily infusion), comparable as a public home-based clinical services platform with payor contracting, clinician-led care, and chronic-condition patient management similar to Viemed's model.
• Amedisys: Amedisys is a large U.S. home health and hospice provider with chronic disease management capabilities, comparable to Viemed's clinical home health positioning, post-acute respiratory programs with payors, and value-based care contracting approach.
• Encompass Health: Encompass Health operates inpatient rehabilitation and (post spin-off) home health/hospice businesses; the home health segment overlaps with Viemed's post-acute respiratory, hospital-at-home, and care-coordination partnership programs with health systems and payors.
• Philips Respironics: Philips Respironics is the dominant global manufacturer and service provider for sleep and respiratory care devices, including CPAP, BiPAP, and hospital-to-home ventilation, serving as a key equipment supplier (and competitor in vertically integrated sleep services) to Viemed.

Emerging players

• Aveanna Healthcare: Aveanna is a pediatric and adult home health provider with payor-mix and respiratory service exposure, comparable as a U.S. public, clinically driven home services company addressing chronic patients and payor-partnered respiratory/medical equipment needs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/viemed-healthcare

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viemed Healthcare