Rotech Healthcare Holdings (ROTK) Files $100M IPO

Rotech Healthcare Holdings filed a $100 million IPO. The company plans to list on the NASDAQ under the ticker 'ROTK'.

The offering is being led by BofA Securities, Jefferies, UBS, Truist Securities, Baird, and RBC Capital.

Rotech Healthcare Holdings is a leading provider of home medical equipment and related products and services (collectively referred to as “HME products and services”) in the United States. The companys offer a comprehensive range of HME products and services for home healthcare and delivery across five core business lines: (1) oxygen, (2) ventilators, (3) sleep therapy, (4) wound care and (5) DME. They enable the treatment of patients in their homes, including chronic patients, acute patients or patients with both chronic and acute needs. Payor clients include commercial insurers, Medicare, Medicaid, the VA and private individuals. As of March 31, 2021, they served more than 600,000 active patients across over 300 service locations in 45 states, supported by more than 3,500 full-time equivalent (“FTE”) employees and key Payor contracts (including over 1,750 Commercial Payor contracts). Over the past several years, the company has made substantial, long-term strategic improvements in their business and operations, resulting in a growth rate of over 23% for the year ended December 31, 2020, primarily driven by organic growth and Adjusted EBITDA Margin of 30.3% for the year ended December 31, 2020. The growth plans also include continuing to evaluate attractive acquisition opportunities in their industry.

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