Quipt Announces Multi-State Acquisition Adding Approximately $9 Million in Annualized Revenues, and Anticipated $2 Million in Adjusted EBITDA Post Integration Acquisition Expands Operations in Mississippi, Texas and Loui

Quipt Announces Multi-State Acquisition Adding

Approximately $9 Million in Annualized Revenues, and Anticipated $2 Million in Adjusted EBITDA Post Integration

Acquisition Expands Operations in Mississippi,

Cincinnati, Ohio - September 11, 2023 -

Quipt Home Medical Corp. ("Quipt" or the "Company") (NASDAQ:QIPT; TSX:QIPT), a U.S. based home medical

equipment provider, focused on end-to-end respiratory care, is very pleased to announce that it has acquired a business with operations

in Mississippi, Texas and Louisiana reporting unaudited annual revenues (12 months ending June 30, 2023) of approximately $9 million with

anticipated Adjusted EBITDA (defined below) of $2 million post integration. As a reminder all financial figures stated are in USD.

The acquisition adds scale with ten locations

across three states, 17,500 active patients, 1,900 unique referring physicians, important insurance contracts, and decades of operating

experience in the markets served. This acquisition allows the Company to further penetrate key sales touch points in major target markets

across Mississippi, Texas and Louisiana and is expected to assist with organic growth initiatives in those markets post-integration. Moreover,

the business has a diverse payor mix and a heavily weighted respiratory product mix.

The operating footprint

aligns closely with regions that have a high prevalence of Chronic Obstructive Pulmonary Disease ("COPD"), a key target

patient group. According to National Institutes of Health (NIH) about 1.5 million people across the three states have COPD1.

As a growing leader in clinical respiratory care, the favorable demographics, additional insurance contracts and infrastructure, afford

Quipt the ideal conditions to accelerate its national expansion efforts.

The Company is pleased to share the following updated metrics on a

consolidated basis taking into consideration the acquisition disclosed herein:

Additionally, the acquisition adds significant

opportunity to increase resupply revenue once sleep patients are onboarded to Quipt's robust resupply program and the acquisition

footprint is expected to create additional opportunities to expand Quipt's access for accretive tuck-in acquisitions.

The acquisition increases Quipt's current

annual revenues by approximately $9 million and is expected to increase Quipt's Adjusted EBITDA, post integration, by $2 million.

The acquisition purchase price is at historical multiples paid by the Company.

Management Commentary

"The completion of this transaction demonstrates

our ongoing patience and discipline as it relates to our capital allocation approach. At favorable terms, we were able to significantly

expand in three attractive existing states. Given that there are more than 1.5 million COPD patients residing in Mississippi, Texas and

Louisiana, we increase our footprint in those three states," said Greg Crawford, Chairman and CEO of Quipt. "Our team of

operators will once again utilize our tried-and-true integration approach to efficiently integrate this business onto our existing platform,

continuing to build scale across the organization. Moreover, we believe there is an opportunity to leverage our resupply program immediately,

creating actionable revenue synergies for us. Additionally, the substantial patient base and excellent referral network we have built

up in these three states allow us to take a "land and expand" approach to future growth, which will support our organic growth

Chief Financial Officer, Hardik Mehta added, "This

accretive transaction checks all the boxes for us, as we were able to acquire respiratory focused business in attractive markets at favorable

terms. The acquisition adds $9 million in annual revenue and $2 million of Adjusted EBITDA post integration, which represents a very strong

We are very excited about the growth opportunities

that will open as a result of this acquisition. Post-closing, we continue to possess a very strong balance sheet with significant flexibility

to go after accretive acquisition targets that fit our stringent criteria. We anticipate a smooth integration process, which has served

as the cornerstone of our consistently strong financial and operational results. As we look ahead, we will continue to expand our ability

to serve critical geographic areas with our full range of respiratory care products and services."

ABOUT QUIPT HOME MEDICAL CORP.

The Company provides in-home monitoring and disease

management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue

to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease,

sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder

value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company's

organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the

patient's services, and making life easier for the patient.

There can be no assurance that any of the

potential acquisitions in the Company's pipeline or in negotiations will be completed as proposed or at all

and no definitive agreements have been executed. Completion of any transaction will be subject to applicable director,

shareholder, and regulatory approvals.

Forward-Looking Statements

Certain statements contained in this press

release constitute "forward-looking information" as such term is defined in applicable Canadian

securities legislation. The words "may", "would", "could", "should", "potential", "will",

"seek", "intend", "plan", "anticipate", "believe", "estimate", "expect",

"outlook", and similar expressions as they relate to the Company, including: the acquisition

increasing the Company's annual revenues by approximately $9 million with anticipated Adjusted EBITDA of $2 million post

integration; the acquisition footprint creating additional opportunities to expand Quipt's access for accretive tuck-in acquisitions;

the Company efficiently integrating the acquired business onto the Company's existing platform, continuing to build scale across

the organization; the Company believing there is an opportunity to leverage its resupply program immediately, creating actionable revenue

synergies; the Company's expectations for organic growth; and the Company completing additional acquisitions; are

intended to identify forward-looking information. All statements other than statements of historical

fact may be forward- looking information. Such statements reflect the Company's current views and intentions

with respect to future events, and current information available to the Company, and are subject to certain

risks, uncertainties and assumptions, including: the Company successfully identified, negotiating and completing

additional acquisitions; and operating and other financial metrics (including by the acquisition target) maintaining their current

trajectories. Many factors could cause the actual results, performance or achievements that may be expressed

or implied by such forward-looking information to vary from those described herein should one or more of

these risks or uncertainties materialize. Examples of such risk factors include, without limitation: risks

related to credit, market (including equity, commodity, foreign exchange and interest rate), liquidity,

operational (including technology and infrastructure), reputational, insurance, strategic, regulatory,

legal, environmental, and capital adequacy; the general business and economic conditions in the regions in

which the Company operates; the ability of the Company to execute on key priorities, including the successful

completion of acquisitions, business retention, and strategic plans and to attract, develop and retain

key executives; difficulty integrating newly acquired businesses; the ability to implement business

strategies and pursue business opportunities; low profit market segments; disruptions in or attacks

(including cyber-attacks) on the Company's information technology, internet, network access or other

voice or data communications systems or services; the evolution of various types of fraud or other criminal

behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the

Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; decline

of reimbursement rates; dependence on few payors; possible new drug discoveries; a novel business model;

dependence on key suppliers; granting of permits and licenses in a highly regulated business; the overall

difficult litigation environment, including in the U.S.; increased competition; changes in foreign

currency rates; increased funding costs and market volatility due to market illiquidity and competition for

funding; the availability of funds and resources to pursue operations; critical accounting estimates

and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural

and unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19 including

various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including

travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters-in-place

and social distancing, disruptions to markets, economic activity, financing, supply chains and sales

channels, and a deterioration of general economic conditions including a possible national or global recession;

as well as those risk factors discussed or referred to in the Company's disclosure documents filed

with United States Securities and Exchange Commission and available at www.sec.gov, and with the securities

regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor

affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information