Verus Healthcare Inc recently completed its third year of operations after its acquisition of CPAP Care Club in 2012. Since that original acquisition, the company has grown its CPAP business within the durable medical equipment (DME) industry by 1,000%. Verus Healthcare now services approximately 50,000 sleep apnea patients for their CPAP supply needs and processes nearly 14,000 new orders per month.
“When we bought this company 3 years ago, the systems and processes weren’t in place to scale,” says Richardson M. Roberts, CEO of Verus Healthcare, in a release. “We’ve invested $1.5 million developing our proprietary software called SNAP, built a highly experienced management team that I believe is the best in the industry and used best practices from other companies that Emmet Seibels (our president and co-founder) and I have run in the past. The results have been excellent but we’ve still got a lot of runway in front of us.”
The company has purchased assets from over 100 DMEs throughout the US and deal flow continues to be strong as the DME industry consolidates. “We are a perfect partner for DME’s because we don’t upset their referral sources after buying their CPAP assets,” Roberts says. “Instead, we work with the DME as a team to provide great service for resupply and that has benefited all involved.”
After selling two very successful payment processing companies in the past, Roberts believes this one also has the potential to be a market leader in the near future. “We have such a high patient satisfaction rating and that’s what allows you to grow fast and profitably,” Roberts says. “Also, all of our employees are shareholders, which effectively makes everyone a ‘salesperson’—that creates high quality results.”