NUTEX HEALTH ANNOUNCES 2022 Q1 FINANCIAL RESULTS FOR PRE-MERGER CLINIGENCE HOLDINGS, INC.
HOUSTON, May 13, 2022 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled healthcare services company comprised of a hospital division with 21 facilities in 8 states and a primary care-centric, risk-bearing population health management division, today announced fiscal year 2022 1st Quarter financial results for the three months ended March 31, 2022 for the pre-merger Company.
On April 1, 2022, subsequent to the fiscal quarter ended March 31, 2022, Clinigence Holdings, Inc. (now known as Nutex Health Inc.), consummated the previously announced merger (the "Merger") with Nutex Health Holdco LLC ("Nutex Holdco"), which survived the Merger as a subsidiary of the Company. Year-end 2021 audited historical financial results for pre-merger Nutex Holdco and unaudited pro forma financial information for the combined company will be disclosed, as required, within 71 days of the due date of the Company's Form 8-K originally filed on April 4, 2022.
NOTE: The 2022 1st QUARTER FINANCIAL RESULTS DESCRIBED HEREIN REFLECT THE PRE-MERGER COMPANY AND THEREFORE ONLY INCLUDE THE FINANCIAL RESULTS OF CLINIGENCE HOLDINGS, INC., PRIOR TO THE MERGER WITH NUTEX HOLDCO ON APRIL 1, 2022.
Financial Highlights for the Three Months Ended March 31, 2022 Compared to the Three Months Ended March 31, 2021:
Notes to the Financial Highlights for the Three Monhs Ended March 31, 2022:
"Our management team is focused on integrating our two companies post-merger," stated Mike Bowen, Chief Financial Officer of Nutex Health. "We believe this integration will be substantially completed by the end of our 2nd quarter in June."
"We are very pleased with the progress of our long-term growth initiatives. We are confident in our future and believe we are well-positioned for continued growth," stated Tom Vo, M.D., MBA, Chairman and Chief Executive Officer of Nutex Health.
"We believe that the combination of our micro hospitals which provide a superior patient experience, our proprietary cloud-based data analytics technology platform, and our primary-care centric, risk-bearing provider networks uniquely position us to benefit from key economic and demographic factors in the U.S.," stated Warren Hosseinion, M.D., President of Nutex Health. "Our team is energized and committed to creating long-term value for our shareholders."
For more details on the Company's March 31, 2022 quarter end results, please refer to our Quarterly Report on Form 10-Q filed with the U.S. Securities & Exchange Commission and accessible at www.sec.gov.
About Nutex Health Inc. (Combined post-merger company)
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 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 the ability to realize the anticipated benefits of the transaction, significant transaction costs and unknown liabilities and litigation and regulatory risks related to the transaction. In addition, forward-looking statements are subject to additional uncertainties and risks facing the Company, including but not limited to, 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.
SOURCE Nutex Health, Inc.
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