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.
Micro Hospitals:
- 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.”
