Board of Quipt Home Medical enters cooperation agreement with Kanen Wealth Management

Goodmans LLP represented the Board of Quipt Home Medical Corp. (or the “Board”) in connection with a notice from Philotimo Fund LP, an entity affiliated with Kanen Wealth Management LLC, announcing the intent to solicit proxies for four director candidates to Quipt’s board in opposition to the Board’s own candidates.

Philotimo Fund LP and President of KWM, David Kanen, filed the solicitation notice with the U.S. Securities and Exchange Commission on January 25, 2025.

On March 4, 2025, Quipt Home Medical Corp. (or the “Company”) announced that it has entered into a cooperation agreement with Kanen, under which Kanen agreed to withdraw its notice of its intent to solicit proxies in support of four director candidates at the Company’s Annual Meeting on March 17. 

Pursuant to the agreement, the Board has granted Kanen certain Board access rights, if Kanen maintains aggregate beneficial ownership of at least 3.5 per cent of the Company's outstanding shares.

Quipt also agreed to establish a new committee of the Board to review and provide non-binding recommendations on Kanen’s previous suggestions related to corporate governance and other operational matters.

Kanen Wealth Management, LLC owns a 5.9 per cent stake in Quipt, placing it as the fourth-largest shareholder.

Quipt Home Medical provides in-home monitoring and disease management services, including end-to-end respiratory solutions, for patients in the United States healthcare market.