- NET REVENUE OF $62.7
MILLION
- NET CASH FROM OPERATING ACTIVITIES OF $2.0 MILLION
- COMPANY EXPECTS TO OPEN FIVE NEW MICRO-HOPITALS IN
2024
HOUSTON, Nov. 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
third quarter 2023 financial results for the three months and nine
months ended September 30, 2023.
Financial Highlights for the Three Months and Nine Months
Ended September 30, 2023:
- Net revenue of $62.7 million in
Q3 2023 vs $28.4 million in Q3
2022.
- Net revenue of $178.0 million for
the first nine months of 2023 vs $165.6
million for the first nine months of 2022.
- Gross profit of $7.0 million in
Q3 2023 vs net loss of $(23.7)
million in Q3 2022.
- Gross profit of $21.6 million for
the first nine months of 2023 vs $18.7
million for the first nine months of 2022.
- Adjusted EBITDA of $1.3 million
in Q3 2023.
- Adjusted EBITDA of $7.7 million
for the first nine months of 2023.
- Nutex Health does not add back non-recurring costs related to
the opening of its new micro-hospitals in its Adjusted EBITDA
numbers. Please see our reconciliation of non-GAAP to GAAP measures
below.
- Net cash from operating activities of $2.0 million in Q3 2023 and $3.0 million for the first nine months of
2023.
- Net loss attributable to Nutex Health of $(5.5) million in Q3 2023 and $(14.2) million for the first nine months of
2023.
- As of September 30, 2023, the
Company had total assets of $479.6
million, including cash and cash equivalents of $26.8 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.
Q3 2023 Highlights:
- 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 Royce City,
Texas. The facility is performing
above expectations.
- Nutex Health expects to open five new micro-hospitals in
2024.
- On August 21, 2023, Nutex Health
announced the acquisition of two independent practice associations
("IPAs") in South Florida:
Population Health Associates, Inc. ("PHA") and Managed Care
Insurance Consultants ("MCIC"). The two IPAs provide high-quality,
coordinated care to over 4,400 managed care patients through a
network of over 112 primary care physicians in South, Central and
North Florida.
- Additionally, Nutex Health launched three new independent
practice associations ("IPAs") in 2023. Our IPAs in South Florida and Houston are actively enrolling patients during
the 2023 Medicare Annual Enrollment Period ("AEP").
- On September 5, 2023, Nutex
Health announced the appointment of Josh
DeTillio as the Company's Chief Operating Officer. Mr.
DeTillio is an experienced healthcare leader with over 20 years of
hospital experience and 12 years as a CEO in publicly traded
companies.
- In September 2023, the Company
commenced a private offering (the "September
2023 Private Offering") of up to $15.0 million pursuant to which the Company will
issue investment units (the "Units") at $50,000 per Unit to accredited investors (the
"Unit Holder") as defined in Rule 501 under the 1933 Act. Unit
consists of (a) an interest-bearing unsecured convertible
promissory note (the "Unsecured Convertible Term Notes") in the
principal amount of $50,000
convertible into shares of common stock at a conversion price of
$0.40 per share and (b) a six-year
warrant (the "Warrants") to purchase up to 62,500 shares of common
stock at an exercise price of $0.40
per share. The Notes mature on October 31,
2025 and the Warrants expire on December 31, 2029. As of September 30, 2023, the Company received net cash
proceeds of $0.9 million. As of
November 6, 2023, the Company has
received net cash proceeds of $4.4
million.
- The Company has a committed investment agreement for up to
$100 million with Lincoln Park
Capital, none of which has been used.
NSA Update:
- On August 24, 2023 the U.S.
District Court in the Eastern District of Texas in TMA III ruled to vacate several
aspects of the regulations mandating the methodology for the QPA
calculation. In particular, the court prohibited the inclusion of
"ghost rates" as part of the QPA calculation and QPA calculations
that are not based on the same or similar specialty. This is the
4th time the federal court has ruled in favor of the Texas Medical
Association effective nationwide. In its FAQs dated October 6, 2023, the Department of Labor states
that the Department of Justice intends to appeal the court's
ruling.
- On October 6, 2023, CMS announced
new guidance in response to the August
2023 ruling in TMA III vacating several provisions of the
existing NSA regulations. In the announcement, the Departments
state that while they disagree with the court's ruling, the QPA
calculations must now be made in good faith in accordance with the
NSA and applicable rules currently in effect, with no additional
guidance provided by the Departments and a suspension of any
enforcement until at least May 1,
2024, to give the insurers adequate time to comply with the
TMA III court ruling. Our management team is actively working with
legislatures, the Administration, and the Center for Consumer
Information and Insurance Oversight (CCIIO) to request CMS to
promptly issue specific guidance on health plan obligations to
calculate QPAs in line with the federal district court ruling and
issue additional instructions to certified IDR entities on how to
evaluate QPAs that are based on an invalidated methodology.
- On October 27, 2023, the
Departments of HHS, Labor, and the Treasury, along with the Office
of Personnel Management, released a proposed rule on the NSA's
Federal IDR process. The proposed rules would allow: better
communication between health plans and providers, open negotiations
through a centralized Federal IDR portal, improved IDR eligibility
determinations and batching ability of claims. We do not know
when and in what form these proposed rules will be implemented,
however, we feel that this is a favorable step in the right
direction to repair the faulty implementation of the NSA.
"Our balance sheet continues to remain strong with $26.8 million of cash on hand and significant
capital available to handle the development of the five additional
micro-hospitals we plan to open in 2024, in addition to forming new
IPAs and growing our existing IPAs," stated Jon Bates, Chief Financial Officer of Nutex
Health.
"We are executing on our goal of opening new hospitals and
growing volumes and service lines at our existing hospitals. In
addition, we are actively enrolling patients in our South Florida and Houston IPAs during the 2023
Medicare Annual Enrollment Period and executing on our integrated
healthcare delivery model comprised of micro-hospitals surrounded
by risk-bearing physician networks. We believe that this is a novel
and innovative model that we can replicate across the country. On
the NSA side, we are actively working with legislators and members
of CCIIO, as well as the Biden-Harris Administration to correct the
flawed implementation of the NSA," stated Tom Vo, M.D., MBA, Chairman and Chief Executive
Officer of Nutex Health.
"In the first nine months of 2023, we have delivered three
successive quarters with positive net cash from operating
activities and positive adjusted EBITDA while opening four new
micro-hospitals, one new urgent care center and launching three new
IPAs. We intend to continue to execute on our growth strategy and
are confident in our outlook for 2024. On the capital markets
side, with cash on hand and proceeds from our private offering, we
intend to pay off the remaining $5.6
million outstanding of our pre-paid advance from Yorkville
Advisors prior to the end of the year, with the goal of mitigating
the selling pressure on our stock. We expect our board to base its
decision regarding the reverse stock split on our trading price and
an extension of our existing grace period," stated Warren Hosseinion, M.D., President of Nutex
Health.
For more details on the Company's Third Quarter 2023 financial
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.
NUTEX HEALTH
INC.
CONDENSED
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
|
|
|
|
|
|
|
|
|
|
September 30, 2023
|
|
December 31, 2022
|
Assets
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
26,826,733
|
|
$
|
34,255,264
|
Accounts
receivable
|
|
|
53,209,834
|
|
|
57,777,386
|
Accounts receivable -
related parties
|
|
|
1,487,591
|
|
|
538,183
|
Inventories
|
|
|
2,682,716
|
|
|
3,533,285
|
Prepaid expenses and
other current assets
|
|
|
5,645,296
|
|
|
1,869,806
|
Total current
assets
|
|
|
89,852,170
|
|
|
97,973,924
|
Property and equipment,
net
|
|
|
85,496,612
|
|
|
82,094,352
|
Operating right-of-use
assets
|
|
|
16,712,230
|
|
|
20,466,632
|
Finance right-of-use
assets
|
|
|
247,593,480
|
|
|
192,591,624
|
Intangible assets,
net
|
|
|
21,624,132
|
|
|
21,191,390
|
Goodwill,
net
|
|
|
17,935,036
|
|
|
17,010,637
|
Other assets
|
|
|
419,882
|
|
|
423,426
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
479,633,542
|
|
$
|
431,751,985
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
17,599,047
|
|
$
|
23,614,387
|
Accounts payable -
related parties
|
|
|
6,144,188
|
|
|
3,915,661
|
Lines of
credit
|
|
|
3,371,676
|
|
|
2,623,479
|
Current portion of
long-term debt
|
|
|
19,644,656
|
|
|
12,546,097
|
Operating lease
liabilities, current portion
|
|
|
1,562,385
|
|
|
1,703,014
|
Finance lease
liabilities, current portion
|
|
|
4,171,489
|
|
|
4,219,518
|
Accrued expenses and
other current liabilities
|
|
|
14,773,273
|
|
|
6,240,813
|
Total current
liabilities
|
|
|
67,266,714
|
|
|
54,862,969
|
Long-term debt,
net
|
|
|
19,303,829
|
|
|
23,051,152
|
Operating lease
liabilities, net
|
|
|
15,874,261
|
|
|
19,438,497
|
Finance lease
liabilities, net
|
|
|
263,791,711
|
|
|
203,619,756
|
Deferred tax
liabilities
|
|
|
8,492,294
|
|
|
10,452,211
|
Total
liabilities
|
|
|
374,728,809
|
|
|
311,424,585
|
|
|
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
|
Common stock, $0.001
par value; 950,000,000 shares authorized; 670,711,741 and
650,223,840
shares issued and
outstanding as of September 30, 2023 and December 31, 2022,
respectively
|
|
|
670,712
|
|
|
650,224
|
Additional paid-in
capital
|
|
|
466,711,720
|
|
|
458,498,402
|
Accumulated
deficit
|
|
|
(377,454,642)
|
|
|
(363,285,925)
|
Nutex Health Inc.
equity
|
|
|
89,927,790
|
|
|
95,862,701
|
Noncontrolling
interests
|
|
|
14,976,943
|
|
|
24,464,699
|
Total equity
|
|
|
104,904,733
|
|
|
120,327,400
|
|
|
|
|
|
|
|
Total liabilities and
equity
|
|
$
|
479,633,542
|
|
$
|
431,751,985
|
NUTEX HEALTH
INC.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospital
division
|
|
$
|
54,585,263
|
|
$
|
21,244,305
|
|
$
|
155,485,230
|
|
$
|
151,976,226
|
Population health
management division
|
|
|
8,137,709
|
|
|
7,150,753
|
|
|
22,491,613
|
|
|
13,594,007
|
Total
revenue
|
|
|
62,722,972
|
|
|
28,395,058
|
|
|
177,976,843
|
|
|
165,570,233
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating costs and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Payroll and
benefits
|
|
|
28,873,144
|
|
|
29,048,207
|
|
|
79,570,519
|
|
|
79,014,608
|
Contract
services
|
|
|
9,035,650
|
|
|
8,557,373
|
|
|
27,972,854
|
|
|
26,536,452
|
Medical
supplies
|
|
|
3,460,130
|
|
|
2,486,083
|
|
|
10,748,214
|
|
|
9,327,114
|
Depreciation and
amortization
|
|
|
4,745,941
|
|
|
4,330,167
|
|
|
12,908,848
|
|
|
9,859,513
|
Other
|
|
|
9,541,894
|
|
|
7,686,132
|
|
|
25,215,549
|
|
|
22,092,033
|
Total operating costs
and expenses
|
|
|
55,656,759
|
|
|
52,107,962
|
|
|
156,415,984
|
|
|
146,829,720
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
(loss)
|
|
|
7,066,213
|
|
|
(23,712,904)
|
|
|
21,560,859
|
|
|
18,740,513
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and other
costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
Facilities closing
costs
|
|
|
-
|
|
|
-
|
|
|
217,266
|
|
|
-
|
Acquisition
costs
|
|
|
43,464
|
|
|
-
|
|
|
43,464
|
|
|
3,885,666
|
Stock-based
compensation expense
|
|
|
49,167
|
|
|
81,249
|
|
|
2,198,812
|
|
|
135,415
|
Impairment of
goodwill
|
|
|
-
|
|
|
398,135,038
|
|
|
-
|
|
|
398,135,038
|
General and
administrative expenses
|
|
|
7,794,808
|
|
|
6,751,548
|
|
|
24,730,168
|
|
|
17,404,637
|
Total corporate and
other costs
|
|
|
7,887,439
|
|
|
404,967,835
|
|
|
27,189,710
|
|
|
419,560,756
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
|
(821,226)
|
|
|
(428,680,739)
|
|
|
(5,628,851)
|
|
|
(400,820,243)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
4,098,179
|
|
|
3,402,606
|
|
|
12,081,316
|
|
|
9,628,189
|
Other expense
(income)
|
|
|
(53,206)
|
|
|
(630,450)
|
|
|
70,721
|
|
|
346,873
|
Loss before
taxes
|
|
|
(4,866,199)
|
|
|
(431,452,895)
|
|
|
(17,780,888)
|
|
|
(410,795,305)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
(benefit)
|
|
|
(342,259)
|
|
|
(8,543,880)
|
|
|
(2,068,530)
|
|
|
11,285,729
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
|
(4,523,940)
|
|
|
(422,909,015)
|
|
|
(15,712,358)
|
|
|
(422,081,034)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: net income
(loss) attributable to noncontrolling interests
|
|
|
1,018,451
|
|
|
(10,722,749)
|
|
|
(1,543,641)
|
|
|
(12,052,765)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to Nutex Health Inc.
|
|
$
|
(5,542,391)
|
|
$
|
(412,186,266)
|
|
$
|
(14,168,717)
|
|
$
|
(410,028,269)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss per common
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.01)
|
|
$
|
(0.62)
|
|
$
|
(0.02)
|
|
$
|
(0.65)
|
Diluted
|
|
$
|
(0.01)
|
|
$
|
(0.62)
|
|
$
|
(0.02)
|
|
$
|
(0.65)
|
NUTEX HEALTH
INC.
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
|
2023
|
|
2022
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
Net loss
|
|
$
|
(15,712,358)
|
|
$
|
(422,081,034)
|
Adjustments to
reconcile net loss to net cash from operating
activities:
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
12,908,848
|
|
|
9,859,513
|
Impairment of
goodwill
|
|
|
-
|
|
|
398,135,038
|
Stock-based
compensation expense
|
|
|
2,198,812
|
|
|
135,415
|
Deferred tax expense
(benefit)
|
|
|
(2,068,530)
|
|
|
3,375,106
|
Debt accretion
expense
|
|
|
1,251,867
|
|
|
1,719,572
|
Loss on lease
termination
|
|
|
58,210
|
|
|
-
|
Non-cash lease
expense
|
|
|
89,338
|
|
|
18,775
|
Changes in operating
assets and liabilities, net of the effects of
acquisitions:
|
|
|
|
|
|
|
Accounts
receivable
|
|
|
4,444,706
|
|
|
52,921,095
|
Accounts receivable -
related party
|
|
|
(949,408)
|
|
|
1,846,887
|
Inventories
|
|
|
850,569
|
|
|
(399,198)
|
Prepaid expenses and
other current assets
|
|
|
(3,771,946)
|
|
|
(5,658,746)
|
Accounts
payable
|
|
|
(6,015,250)
|
|
|
4,147,170
|
Accounts payable -
related party
|
|
|
2,228,527
|
|
|
(630,490)
|
Accrued expenses and
other current liabilities
|
|
|
7,519,285
|
|
|
2,712,011
|
Net cash from
operating activities
|
|
|
3,032,670
|
|
|
46,101,114
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
Acquisitions of
property and equipment
|
|
|
(10,322,487)
|
|
|
(22,512,464)
|
Payments for
acquisitions of businesses, net of cash acquired
|
|
|
(743,837)
|
|
|
-
|
Acquired cash in
reverse acquisition with Clinigence
|
|
|
-
|
|
|
12,716,228
|
Cash related to
deconsolidation of Real Estate Entities
|
|
|
(1,039,157)
|
|
|
(2,421,212)
|
Net cash from
investing activities
|
|
|
(12,105,481)
|
|
|
(12,217,448)
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
Proceeds from lines of
credit
|
|
|
2,340,911
|
|
|
2,592,714
|
Proceeds from notes
payable
|
|
|
16,952,905
|
|
|
10,126,130
|
Proceeds from
convertible debt
|
|
|
891,000
|
|
|
-
|
Repayments of lines of
credit
|
|
|
(1,592,714)
|
|
|
(72,055)
|
Repayments of notes
payable
|
|
|
(10,557,758)
|
|
|
(4,720,737)
|
Repayments of finance
leases
|
|
|
(2,704,082)
|
|
|
(923,321)
|
Common stock issued for
exercise of warrants
|
|
|
-
|
|
|
4,119,141
|
Common stock issued for
exercise of options
|
|
|
-
|
|
|
644,974
|
Members'
contributions
|
|
|
649,550
|
|
|
4,825,377
|
Members'
distributions
|
|
|
(4,335,532)
|
|
|
(49,973,374)
|
Net cash from
financing activities
|
|
|
1,644,280
|
|
|
(33,381,151)
|
Net change in cash and
cash equivalents
|
|
|
(7,428,531)
|
|
|
502,515
|
Cash and cash
equivalents - beginning of the period
|
|
|
34,255,264
|
|
|
36,118,284
|
Cash and cash
equivalents - end of the period
|
|
$
|
26,826,733
|
|
$
|
36,620,799
|
Non-GAAP Financial Measures
Adjusted EBITDA. Adjusted EBITDA is
used as a supplemental non-GAAP financial measure by management and
external users of our financial statements, such as industry
analysts, investors, lenders and rating agencies. We believe
Adjusted EBITDA is useful because it allows us to more effectively
evaluate our operating performance.
We define Adjusted EBITDA as net income (loss)
attributable to Nutex Health Inc. plus net interest expense, income
taxes, depreciation and amortization, further adjusted for
stock-based compensation, certain defined items of expense, any
acquisition-related costs and impairments. A reconciliation of net
income to Adjusted EBITDA is included below. Adjusted EBITDA is not
intended to serve as an alternative to U.S. GAAP measures of
performance and may not be comparable to similarly-titled measures
presented by other companies.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Reconciliation of net
income (loss) attributable to Nutex Health Inc. to Adjusted
EBITDA:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to Nutex Health Inc.
|
|
$
|
(5,542,391)
|
|
$
|
(412,186,266)
|
|
$
|
(14,168,717)
|
|
$
|
(410,028,269)
|
Depreciation and
amortization
|
|
|
4,745,941
|
|
|
4,330,167
|
|
|
12,908,848
|
|
|
9,859,513
|
Interest expense,
net
|
|
|
4,098,179
|
|
|
3,402,606
|
|
|
12,081,316
|
|
|
9,628,189
|
Income tax expense
(benefit)
|
|
|
(342,259)
|
|
|
(8,543,880)
|
|
|
(2,068,530)
|
|
|
11,285,729
|
Allocation to
noncontrolling interests
|
|
|
(1,772,908)
|
|
|
(922,762)
|
|
|
(3,500,873)
|
|
|
(4,445,224)
|
EBITDA
|
|
|
1,186,562
|
|
|
(413,920,135)
|
|
|
5,252,044
|
|
|
(383,700,062)
|
Facilities closing
costs
|
|
|
-
|
|
|
-
|
|
|
217,266
|
|
|
-
|
Impairment of
goodwill
|
|
|
-
|
|
|
398,135,038
|
|
|
-
|
|
|
398,135,038
|
Acquisition
costs
|
|
|
43,464
|
|
|
-
|
|
|
43,464
|
|
|
3,885,666
|
Stock-based
compensation expense
|
|
|
49,167
|
|
|
81,249
|
|
|
2,198,812
|
|
|
135,415
|
Adjusted
EBITDA
|
|
$
|
1,279,193
|
|
$
|
(15,703,848)
|
|
$
|
7,711,586
|
|
$
|
18,456,057
|
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," "expects 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 final rules
implemented under the No Surprises Act and related regulatory
guidance, 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 September 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.
View original
content:https://www.prnewswire.com/news-releases/nutex-health-reports-third-quarter-2023-financial-results-301984001.html
SOURCE Nutex Health, Inc.