Press release
NUTEX HEALTH REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS
NET REVENUE OF $58.9 MILLIONCOMPANY EXPECTS TO OPEN 1-2 MORE HOSPITALS IN 2023 AND ANOTHER 14 BY END OF 2025HOUSTON, Aug. 9, 2023 /PRNewswire/ -- Nutex Health
About this update from Nutex Health Inc.
[{"type":"text","content":"NET REVENUE OF $58.9 MILLIONCOMPANY EXPECTS TO OPEN 1-2 MORE HOSPITALS IN 2023 AND ANOTHER 14 BY END OF 2025HOUSTON, Aug. 9, 2023 /PRNewswire/ -- Nutex Health Inc. (\"Nutex Health\" or the \"Company\") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 22 state-of-the-art micro-hospitals in 8 states and primary care-centric, risk-bearing physician networks, today announced second quarter 2023 financial results for the three months and six months ended June 30, 2023.\nFinancial Highlights for the Three Months and Six Months Ended June 30, 2023:\nNet revenue of $58.9 million and $115.3 million, respectively.Net loss attributable to Nutex Health of $3.5 million and $8.6 million, respectively.Adjusted EBITDA of $4.0 million and $6.4 million, respectively.Net cash from operating activities of $1.1 million as of June 30, 2023.As of June 30, 2023, the Company had total assets of $436.2 million, including cash and cash equivalents of $32.8 million.Note: Adjusted EBITDA is a non-GAAP financial metric. A reconciliation of non-GAAP to GAAP measures is included below in this earnings release.\nYear-to-Date 2023 Highlights:\nOn February 6, 2023, Nutex Health opened its second micro-hospital in Arkansas. The facility is already performing above expectations.On May 3, 2023, Nutex Health opened its first urgent care center in Southern California to take better and more efficient care of its 25,000 patients enrolled in its independent practice association (\"IPA\") in Southern California.On June 20, 2023, Nutex Health opened its second new micro-hospital in 2023 in New Mexico. The facility is performing above expectations.On July 5, 2023, Nutex Health opened its third new micro-hospital in 2023 in Louisiana. The facility is performing above expectations.On August 7, 2023, Nutex Health opened its fourth new micro-hospital in 2023 in Texas.Nutex Health expects to open 1-2 more micro-hospitals in 2023 and another 14 by end of 2025.Nutex Health launched three new independent practice associations (\"IPAs\") in 2023. IPAs are physician networks comprised of primary care physicians (\"PCPs\") and specialists. The three new IPAs are strategically located around existing (Houston and Phoenix) and upcoming (South Florida) Nutex Health micro-hospitals and expect to start enrolling managed care patients l...