Nobilis health reports third quarter 2016 financial results – yahoo finance

HOUSTON, TX–(Marketwired – Nov 7, 2016) – Nobilis Health Corp. Insurance direct sale salvage ( NYSE MKT: HLTH) ( TSX: NHC) (“Nobilis” or the “Company”) today announced financial results for the third quarter ended September 30, 2016. Auto direct insurance phone number All financial results are expressed in U.S. Canadian direct auto insurance bc dollars.

“Nobilis made significant progress in the third quarter both financially and operationally. Open and direct car insurance dungiven We continued our strong revenue performance for the year, realizing organic revenue growth as well as growth at the hospitals acquired in 2015,” said Harry Fleming, Chief Executive Officer of Nobilis.


“Our new credit facility, announced in October, significantly strengthens our balance sheet and substantially increases our financial resources, giving us the flexibility we need to help us achieve our acquisition goals. We also made significant progress integrating recently acquired facilities, including the five clinics and four surgery centers acquired as part of our acquisition of ‘Arizona Vein and Vascular Clinics’ and our new Galveston-area surgery center. We remain on track to deliver the full year 2016 financial guidance we previously provided,” continued Harry Fleming, Chief Executive Officer of Nobilis.

Kenneth Efird, President, Nobilis said, “Our third quarter Adjusted EBITDA 1 of $4.3 million was impacted by expenses for direct-to-consumer marketing, physician marketing, physician recruitment, and ancillary service line expansion. We deployed in the third quarter a portion of direct-to-consumer marketing expenses budgeted for the fourth quarter. This marketing expense acceleration allowed us to avoid higher fourth quarter premiums for digital online, social media and direct response television expenses, resulting from the U.S. Direct auto insurance claims number presidential election.”

“We also increased our physician marketing expense with the recruitment of several new physicians. Canadian direct travel insurance bc Finally, we expanded our anesthesia footprint and launched a new laboratory division. Direct insurance services preston These efforts support our strategic growth initiatives and the marketing of our specialty services to hospitals acquired in 2015. First call direct car insurance These additional third quarter expenses will drive cases in the fourth quarter, our most profitable quarter,” continued Kenneth Efird, President of Nobilis.

Total revenue for the third quarter of 2016 increased to $70.7 million, a 34.7% increase over the same period the prior year. Direct national insurance Total case volume increased by 679 cases, or 15.4%, to 5,097 cases in the third quarter of 2016, as compared to the same period the prior year. Direct insurance florida Revenue per case increased to $13,256 in the third quarter of 2016, as compared to $11,392 in the same period the prior year, reflecting the impact of a higher acuity case mix performed in hospitals. Insurance services direct The increase in total revenue and total case volume in the third quarter compared to the same quarter the prior year was primarily organic growth.

Net loss attributable to Nobilis for the third quarter of 2016 was $2.8 million, or $0.04 per basic and fully diluted share, as compared to a prior period net income attributable to Nobilis of $10.9 million, or $0.15 and $0.14 per basic and fully share, respectively. Net income in the third quarter of 2015 included a $4.4 million bargain purchase gain and a $6.4 million change in fair value of warrants and stock options.

Adjusted EBITDA 1 for the third quarter of 2016, which adds back certain non-cash and non-recurring expenses, was $4.3 million, a decrease of 18.3% over Adjusted EBITDA 1 of $5.3 million for the same period the prior year.

Total cash was $19.6 million, accounts receivable was $86.2 million and total debt was $23.8 million as of September 30, 2016, compared to $15.7 million, $92.6 million and $22.7 million, respectively, at December 31, 2015.

As of September 30, 2016, the Company owned and/or managed four acute care surgical hospitals and five ambulatory surgical centers, and had affiliations with an additional 36 facilities.

Total revenue for the first nine months of 2016 increased to $183.8 million, a 32.1% increase over the same period the prior year. Direct insurance company nashville tn Total case volume for the first nine months of 2016 increased by 1,385 cases, or 11.0%, to 13,934 in the first nine months of 2016, compared to the same period the prior year. Auto direct car insurance reviews Revenue per case increased to $13,193 for the first nine months of 2016, as compared to $11,093 in the same period the prior year, reflecting the impact of a higher acuity case mix from the purchase of three new hospitals in 2015. Direct auto insurance corporate office The increase in total revenue and total case volume for the first nine months of 2016 compared to the same period the prior year was due primarily to the acquisitions of three hospitals in 2015.

Net loss attributable to Nobilis for the first nine months of 2016 was $2.9 million, or $0.04 per basic and fully diluted share, as compared to net income attributable to Nobilis of $6.0 million, or $0.09 per basic and fully diluted share, in the same period the prior year.

Adjusted EBITDA 1 for the first nine months of 2016, which adds back certain non-cash and non-recurring expenses, was $13.2 million, a decrease of 20.5% compared to Adjusted EBITDA 1 of $16.6 million for the same period the prior year.

For full year 2016, Nobilis is reiterating the guidance previously provided on October 28, 2016 when we completed the acquisition of Arizona Vascular Clinics. Full year 2016 total revenues are expected to be $281.0 million, and Adjusted EBITDA 1 is expected to be $53.0 million.

Nobilis will host a conference call on November 7, 2016 at 8:00 a.m. Access direct insurance CDT (9:00 a.m. First car direct insurance EDT) to discuss its financial results for the third quarter of 2016. Canadian direct insurance To participate in the conference call, please dial (877) 201-0168 in the U.S. Direct insurance number and Canada, and +1 (647) 788-4901 internationally. Direct general insurance reviews Please enter conference ID 13721251. Insurance direct autos There will be a livestream of the conference call available at: http://investors.nobilishealth.com/investors/events-and-presentations/.

Nobilis ( www.NobilisHealth.com) is a full-service healthcare development and management company which currently owns or manages fourteen surgical facilities and six clinics, partners with thirty-six additional facilities throughout the country, and markets seven independent brands. Direct choice insurance reviews Deploying a unique patient acquisition strategy driven by direct-to-consumer marketing, Nobilis is focused on a specified set of procedures that are performed at our centers by local physicians.

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. Canadian direct insurance inc 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. Pay direct auto insurance online 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. Direct insurance services The foregoing are significant factors we think could cause our actual results to differ materially from expected results. Dial direct insurance contact details 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. Direct canada insurance 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. Western direct insurance Subject to any 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. Direct auto insurance number 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, 2015, filed on March 15, 2016, as updated by other filings with the Securities and Exchange Commission.

Adjusted EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, non-cash compensation expenses, change in fair value of warrant and stock option derivative liabilities, acquisition expenses, bargain purchase gain and non-recurring expenses. Motor direct insurance Adjusted EBITDA should not be considered a measure of financial performance required by accounting principles generally accepted in the United States of America (“U.S. Direct insurance claims GAAP”). Western canadian direct insurance Items excluded from Adjusted EBITDA are significant components in understanding and assessing financial performance. Direct one insurance Adjusted EBITDA is an analytical indicator used by management and the health care industry to evaluate company performance, allocate resources and measure leverage and debt service capacity. Metropolitan direct auto insurance address Adjusted EBITDA should not be considered in isolation or as an alternative to net income, cash flows generated by operations, investing or financing activities, or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity. Direct auto insurance commercial Because Adjusted EBITDA is not a measurement determined in accordance with U.S. Auto direct insurance quote GAAP and is thus susceptible to varying calculations, Adjusted EBITDA as presented may not be comparable to other similarly titled measures of other companies. The third quarter 2015 Adjusted EBITDA of $5.3 million was previously reported as $9.7 million. Due to recent SEC guidance regarding non-GAAP disclosures, the Company elected to remove the Bargain Purchase Gain previously included in the third quarter of 2015.

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