QUIPT ENTERS FOUR NEW STATES WITH CLOSINGS OF STRATEGIC ACQUISITIONS NATIONAL EXPANSION CONTINUES WITH ENTRANCE INTO CALIFORNIA, MISSOURI, ARKANSAS AND MISSISSIPPI $5.5 MILLION IN ANNUALIZED REVENUES, 10% ADJUSTED EBITDA

QUIPT ENTERS FOUR NEW STATES WITH CLOSINGS OF

STRATEGIC ACQUISITIONS

NATIONAL EXPANSION CONTINUES WITH ENTRANCE

INTO CALIFORNIA, MISSOURI, ARKANSAS AND MISSISSIPPI

$5.5 MILLION IN ANNUALIZED REVENUES, 10% ADJUSTED

EBITDA MARGIN PRIOR TO INTEGRATION, AND INCREASES ACTIVE PATIENT COUNT BY MORE THAN 10,000

Cincinnati, Ohio - July 14, 2021 -

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

in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that it has recently acquired three

separate entities with combined operations in California, Missouri, Arkansas and Mississippi, reporting combined unaudited trailing 12-month

annual revenues of approximately $5.5 million, and Adjusted EBITDA (defined below) of $550,000 prior to integration. As a reminder all

figures stated are in USD.

Quipt is undertaking an ongoing national expansion

effort with the goal of economically growing its operating footprint to serve as a leader in respiratory homecare across the United States.

Quipt has built out a significant infrastructure platform which is highly scalable and allows the opportunity for the Company to efficiently

integrate acquired businesses resulting in meaningful cost synergies and revenue growth opportunities.

Quipt's acquisition approach generally targets

companies that are either: (i) heavily respiratory weighted companies with gross revenue in the range of $5 to $20 million, and consistent

annual EBITDA margins between 10% and 20% or more; (ii) sub $5 million revenue targets with the strategic goal of expanding our payer

mix and expanding our geographical footprint across new states to be become a national DME provider; or (iii) targeting substantially

larger opportunities that would be more meaningful in terms of revenue, EBITDA, active patient base and geographical operating footprint.

Quipt will operate each of the newly acquired

entities under the Quipt brand name post-integration. This marks the start of a longer-term plan to transition certain local market brands

to Quipt, as it strengthens its brand equity and recognition. Quipt believes this will be a driver of future organic growth.

Combining these newly acquired entities provides

Quipt a pathway to grow into four new states (California, Missouri, Arkansas, and Mississippi). The combined entities will add six locations,

over 10,000 active patients, important insurance contracts and decades of operating experience. Each business has a proven track record

in the markets they serve and has diversified product mixes, which combined is comprised of 66% respiratory and 33% traditional DME. Quipt

has immediate access to attractive new markets in which it intends to leverage its existing infrastructure to create significant cross

selling and patient growth opportunities. In addition, the combined entities give Quipt the opportunity to add patients to Quipt's

existing subscription-based resupply program, and Quipt expects to derive strong revenue synergies from this initiative. The combined

entities have a diverse payor mix with no more than 10% in sales coming from any one particular payor source.

The Company is pleased to share the following

updated metrics taking into consideration the three newly acquired entities:

Under the terms of the definitive purchase agreements,

Quipt acquired the three combined entities for total consideration of approximately $4.2 million in cash. It is expected that the combined

entities will increase Quipt's annual gross revenues by approximately $5.5 million and Adjusted EBITDA (as defined below) will normalize

to be in-line with the Company's overall margin profile. Leveraging existing infrastructure and payor contracts, Quipt expects to

achieve additional revenue generated from organic growth, cross selling, and corporate synergies.

Management Commentary

"The closing of three acquisitions with

operations spanning over four states represent the beginning of what we anticipate will be a busy second half of the year at Quipt, as

we strategically aim to expand our operating footprint into attractive new and existing markets. We are focused on economically scaling

the business, with our acquisition strategy, and robust organic growth platform," said Greg Crawford, Chairman and CEO of Quipt.

"We are excited to build our brand into local markets, dedicated to exceptional patient care, and expect a smooth integration process

that will allow us to move quickly to capture the many synergies available to us. We are able to add six new locations, over 10,000 active

patients, and $5.5 million in gross revenue through these acquired entities providing us meaningful infrastructure in these new areas

Chief Financial Officer, Hardik Mehta added, "Our

acquisition focus continues to be on companies with a heavily weighted respiratory product mix, diversification of payor mix, and a stable

foundation for Quipt to build out its operations, utilizing existing infrastructure. Our goal is to double the Adjusted EBITDA margin

post integration of the combined entities, aligning more closely with our overall margin profile. We are excited to have the opportunity

to penetrate these new states both organically and through strategic bolt-on opportunities that present themselves. With approximately

$37 million in cash and untapped credit facility of $20 million, we believe this is just the beginning of what will be a strong acquisition

pace for us over the remainder of 2021."

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 advanced 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 directors, shareholder and regulatory approvals.

Neither the TSX Venture Exchange nor its Regulation

Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this release.

Forward-Looking Statements

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" and similar expressions as they relate to the Company, including: the Company's

acquisition approach; the Company's plan to transition certain local market brands to Quipt; the Company strengthening its

brand equity and recognition and the Company believing this will be a driver of future organic growth, combined with the ongoing

efforts to date; the Company creating significant cross selling and patient growth opportunities in the new markets; the new entities

giving the Company the opportunity to add patients to Quipt's existing subscription-based resupply program and the Company

expecting to derive strong revenue synergies from this initiative; the amount the Company expects its annual revenues and Adjusted

EBITDA will increase as a result of the acquisitions of the combined entities; the company expecting to achieve additional

revenue from organic growth, cross selling and corporate synergies; the Company anticipating a busy second half of the year at

Quipt, as it strategically aims to expand its operating footprint into new and existing markets; the Company expecting a smooth

integration process and that anticipated results; the Company believe this is just the beginning of what will be a strong acquisition

pace for it over the remainder of 2021; 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 acquisition targets achieving results

at least as good as historical performances; and the Company successfully identified, negotiating and completing additional acquisitions,

including accretive acquisitions. 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: credit;

market (including equity, commodity, foreign exchange and interest rate); liquidity; operational (including technology

and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; 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