ACQUISITION EXPANDS COMPANY'S PRESENCE IN
FLORIDA AND ADDS APPROXIMATELY 112
PRIMARY CARE PHYSICIANS AND 4400 MANAGED CARE PATIENTS TO
THE NUTEX PLATFORM
HOUSTON, Aug. 22,
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 that
it has acquired Population Health Associates, Inc. ("PHA") and
Managed Care Insurance Consultants, Inc. ("MCIC").
Founded in 1996 and based in Coral
Gables, Florida, PHA and MCIC are independent practice
associations ("IPAs") that provide high-quality, coordinated care
to approximately 4400 managed care patients through a network of
approximately 112 primary care physicians ("PCPs") in South,
Central and North Florida. As part of the acquisition,
Victor Behar, Founder and CEO of PHA
and MCIC, will lead all Florida IPA operations for Nutex
Health.
The acquisition of PHA and MCIC will add approximately 4400
managed care patients to Nutex Health's existing 25,000 managed
care patients, creates synergies with South Florida Physicians IPA
("SFPIPA"), Nutex's existing network of PCPs in South Florida and leverages Nutex's
proprietary cloud-based population health management technology
platform, called Clinigence Health. The Company expects to
optimize medical cost ratios ("MCRs") and to deliver improved
health outcomes for its patients.
"Nutex expects to open 5-6 Florida micro-hospitals in Tampa, Miami,
Orlando and Jacksonville by the end of 2025. We believe
that our integrated healthcare delivery model of micro-hospitals
surrounded by our own affiliated network of physicians, once
operational, should translate into higher patient volumes for our
hospitals while lowering the MCRs for our IPAs, making both the
micro-hospitals and IPAs more profitable," stated Tom Vo, M.D., MBA, Chairman and Chief Executive
Officer of Nutex Health.
"We welcome Mr. Behar and his team to the Nutex family and are
excited to partner with the PHA and MCIC physicians in providing
high-quality value-based care to our patients. This
acquisition accelerates our expansion in Florida and represents the continued execution
of our growth strategy of building or buying IPAs around our
facilities", stated Warren
Hosseinion, M.D., President of Nutex Health.
"We are thrilled to become part of Nutex Health and believe that
our network of providers will benefit from the support and
cloud-based population health management platform provided by
Clinigence," stated Victor Behar,
Chief Executive Officer of PHA and MCIC.
About Nutex Health Inc.
Headquartered in Houston, Texas
and founded in 2011, Nutex Health Inc. (NASDAQ: NUTX) is a
healthcare management and operations company with two divisions: a
Hospital Division and a Population Health Management Division.
The Hospital Division owns, develops and operates innovative
health care models, including micro-hospitals, specialty hospitals,
and hospital outpatient departments (HOPDs). This division owns and
operates 22 facilities in 8 states.
The Population Health Management division owns and operates
provider networks such as Independent Physician Associations
(IPAs). Through our Management Services Organization (MSO), 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.
Forward-Looking Statements
Certain statements and information included in this press
release constitute "forward-looking statements" within the meaning
of the 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 execute our growth strategy, changes in
laws or regulations, including the interim final and final rules
implemented under the No Surprises Act , economic conditions,
dependence on management, dilution to stockholders, lack of
capital, 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. An extensive list of factors that can affect future
results are discussed in the Current Report on Form 10-Q for the
period ended June 30, 2023 under the
heading "Risk Factors" in Part I, Item IA thereof, and other
documents filed from time to time with the Securities and Exchange
Commission. 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.