HOUSTON, Nov. 27,
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 hospital facilities in 8 states and
primary care-centric, risk-bearing physician networks, today
announced that it has received a letter from Nasdaq granting it an
additional 180-day extension, or until May
20, 2024, to evidence compliance with Nasdaq's $1.00 minimum bid requirement.
The Company can cure this deficiency if the closing bid price of
its shares of Common Stock is $1.00
per share or higher for at least 10 consecutive business days
during the additional compliance period. The Company intends
to regain compliance with the minimum bid price requirement on or
before May 20, 2024.
Nutex Health will consider all available options to resolve the
deficiency, including a reverse stock split, if necessary. If
the minimum bid price is not achieved within the next 180 days,
Nutex Health has already received shareholder approval to execute a
reverse stock split and will do so at least 10 business days prior
to May 20, 2024.
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 Annual Report on Form 10-K for the
year ended December 31, 2022, and the
Current Reports on Form 10-Q for the periods ended March 30,
2023, June 30, 2023 and
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.
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SOURCE Nutex Health, Inc.