As of
As disclosed in our 10-K filed on
Management is advancing its previously announced strategic plan designed to significantly reduce costs, reach positive net income and improve cash flow.
The Company continues to monitor underperforming facilities and may decide to close or sell more underperforming facilities in the near future.
The Company believes that it has a strong balance sheet, expects to continue to improve cash flow and believes it is in a position to continue to achieve positive Adjusted EBIDTA.
*For the rationale and reconciliation of Adjusted EBITDA, a non-GAAP measure, to the nearest GAAP measure, please read 'Item 7. Management's Discussion and Analysis of Financial Condition and Results pf Operations - Non-GAAP Financial Measures' on page 50 of our Annual Report on Form 10-K for the year ended
About
Headquartered in
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 21 facilities in 9 states.
The Population Health Management division owns and operates provider networks such as Independent Physician Associations (IPAs). Through our
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
(C) 2024 Electronic News Publishing, source