Quipt Home Medical (QIPT) said Tuesday it has signed a cooperation deal with David Kanen, Philotimo Fund, and Kanen Wealth Management under which Kanen agreed to withdraw its notice about its intent to seek proxies in support of four director candidates at Quipt's upcoming annual general meeting.

As part of the deal, Kanen gets certain board access rights as long as it keeps a total beneficial stake of at least 3.5% in Quipt, the company said.

Quipt said it also agreed to create a new board committee to offer non-binding recommendations regarding Kanen's suggestions related to corporate governance and other areas of the company's operations.