HOUSTON , Sept. 14, 2017 /CNW/ -- Nobilis Health Corp. (NYSE American: HLTH) ("Nobilis" or the "Company") today announced the acquisition of DeRosa Medical, P.C. ("DeRosa Medical").
DeRosa Medical is a primary care practice that specializes in health and wellness, medically supervised weight loss, and chronic health condition management. DeRosa Medical has 10,000 active patients, and serves these patients with its nine primary care providers, comprised of physicians and nurse practitioners. The practice has three locations in the Phoenix, Arizona metropolitan area: Scottsdale , Chandler , and Glendale. These locations complement Nobilis' existing surgical facilities in North Phoenix , Chandler and Scottsdale . The acquisition of DeRosa Medical allows the Company to enhance its ability to serve patients across the continuum of care, from primary care needs to surgical procedures, utilizing its concierge care delivery model. The DeRosa Medical purchase price is $915,000 cash, which represents 3x adjusted EBITDA.
The DeRosa Medical acquisition represents the most recent addition to the Company's Concertis portfolio. "The DeRosa Acquisition brings the Arizona market into Concertis' clinically integrated network ("CIN"). Our CIN has already begun to contribute significantly to Nobilis' surgery patient flow in our Texas markets, and we look forward to achieving similar growth in Arizona ," said Harry Fleming , Nobilis CEO. Concertis advances health care delivery through its CIN that is committed to improving patient care and reducing overall healthcare costs. Clinical integration coordinates care across a continuum of services including physicians, hospitals, and ancillary services. Concertis currently includes bundled payment surgical procedures provided in three states, primary care practice acquisitions, and the Company's 360Concierge care management IT solution. This portfolio of products coupled with the Company's facilities and ancillary services comprise the CIN. Controlling the entire patient experience from aligned primary care providers, to facilities, surgeries, and ancillary services improves patient outcomes while encouraging more efficient cost control for Nobilis, patients, and physicians.
About Nobilis Health Corp
Nobilis (www.NobilisHealth.com) is a full-service healthcare development and management company, with 24 locations across Texas and Arizona , including 4 hospitals, 10 ASCs and 10 clinics. In addition, Nobilis partners with an additional 35 facilities across the country. Marketing nine independent brands, Nobilis deploys a unique patient acquisition strategy driven by proprietary direct-to-consumer marketing technology, focusing on a specified set of procedures that are performed at our centers by local physicians.
This press release contains certain forward-looking statements within the meaning of Canadian and United States securities laws, including the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and may be identified by the use of words such as "may," "believe," "will," "expect," "project," "estimate," "anticipate," "plan" or "continue." These forward-looking statements are based on current plans and expectations and are subject to a number of risks, uncertainties and other factors which could significantly affect current plans and expectations and our future financial condition and results. These factors, which could cause actual results, performance and achievements to differ materially from those anticipated, include, but are not limited to our ability to successfully maintain effective internal controls over financial reporting; our ability to implement our business strategy, manage the growth in our business, and integrate acquired businesses; the risk of litigation and investigations, and liability claims for damages and other expenses not covered by insurance; the risk that payments from third-party payers, including government healthcare programs, may decrease or not increase as costs increase; adverse developments affecting the medical practices of our physician limited partners; our ability to maintain favorable relations with our physician limited partners; our ability to grow revenues by increasing case and procedure volume while maintaining profitability at the Nobilis facilities; failure to timely or accurately bill for services; our ability to compete for physician partners, patients and strategic relationships; the risk of changes in patient volume and patient mix; the risk that laws and regulations that regulate payments for medical services made by government healthcare programs could cause our revenues to decrease; the risk that contracts are cancelled or not renewed or that we are not able to enter into additional contracts under terms that are acceptable to us; and the risk of potential decreases in our reimbursement rates. The foregoing are significant factors we think could cause our actual results to differ materially from expected results. However, there could be additional factors besides those listed herein that also could affect us in an adverse manner.
We have not undertaken any obligation to publicly update or revise any forward-looking statements. All of our forward-looking statements speak only as of the date of the document in which they are made or, if a date is specified, as of such date. Subject to a mandatory requirements of applicable law, we disclaim any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in our expectations or any changes in events, conditions, circumstances or information on which the forward-looking statement is based. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing factors and in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 , filed on March 14, 2017 , as updated by other filings with the Securities and Exchange Commission.
Vice President, Investor Relations
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SOURCE Nobilis Health Corp.
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