HOUSTON, Sept. 14, 2017 /PRNewswire/ -- 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.
Forward-Looking Statements
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.
Contact Information:
Tuan Tran
Vice President, Investor Relations
(346) 207-6342
IR@Nobilishealth.com
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SOURCE Nobilis Health Corp.