Nutex health provides update on growth strategy
HOUSTON, July 13, 2022 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 21 micro hospitals in 8 states and primary care-centric, risk-bearing physician networks, today provides an update on the Company's growth strategy.
Two new micro hospitals opened earlier this year and are already generating free cash flow.
Three more micro hospitals are anticipated to open in 2022. Two in November and one in December.
17 more facilities are either under construction or in advanced planning stages and anticipated to open in 2023 and 2024.
Nutex currently has facilities in 8 states, and with these upcoming facilities will be entering 4 new states, including Florida, Wisconsin, Ohio, and Idaho, bringing the total to 12 states.
Nutex is actively exploring building additional micro hospitals in existing and new states.
There can be no assurance that these new facilities will open in the anticipated timing or that they will open at all.
Population Health Management:
Nutex has formed two new Independent Physician Associations (IPAs) in Houston and Miami. Our IPAs are in the process of contracting with Primary Care Physicians and Specialists, as well as contracting with managed care organizations. Once this process is completed, our IPAs will then begin enrolling patients.
Nutex anticipates forming at least one more IPA in 2022 in Phoenix, Arizona, where it already operates two micro hospitals.
Nutex anticipates launching 2-3 IPAs per year around its existing micro hospitals.
There can be no assurance that these IPAs will become operational in the anticipated timing or that they will become operational at all.
Our growth depends in part on our ability to identify and develop successful new geographies, physician partners, payors and patients. If we are not able to successfully execute upon our growth strategies, there may be a material adverse effect on our business, financial condition, cash flows and results of operations.
"We believe we are still in the early stages of our growth journey," stated Tom Vo, M.D., MBA, Chairman and Chief Executive Officer of Nutex Health. "With our competitive advantages in the marketplace and focused strategy, we believe we are well positioned for strong growth in the decade ahead and also well positioned to drive superior value creation for our shareholders."
"We believe our technology-enabled integrated care model of micro hospitals with risk-bearing physician networks wrapped around them is truly unique," stated Warren Hosseinion, M.D., President of Nutex Health. "We are well positioned to deliver high-quality care in a cost- and operationally efficient manner."
About Nutex Health Inc.
Headquartered in Houston, Texas and founded in 2011, Nutex Health Inc. is a physician-led, technology-enabled healthcare services company with approximately 1500 employees nationwide and is partnered with over 800 physicians. The Company has two divisions: a Hospital division and a Population Health Management division. The Hospital division currently owns and operates 21 facilities in eight different states. The division implements and operates different innovative health care models, including micro hospitals, specialty hospitals and hospital outpatient departments (HOPDs). The Population Health Management division owns and operates provider networks such as Independent Physician Associations (IPAs). Through our Management Services Organizations (MSOs), we provide management, administrative and other support services to our affiliated hospitals and physician groups. Our cloud-based proprietary technology platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of patients and providers, allowing us to deliver greater quality care more efficiently.
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will", "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include, but are not limited to, our ability to successfully combine our legacy operations of the combined company, to execute our growth strategy, economic conditions, dependence on management, dilution to stockholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company's ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition and the ability of the Company to obtain future financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.
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SOURCE Nutex Health, Inc.