ACQUISITION EXPANDS COMPANY’S PRESENCE IN FLORIDA AND ADDS APPROXIMATELY 112 PRIMARY CARE PHYSICIANS AND 4400 MANAGED CARE PATIENTS TO THE NUTEX PLATFORM
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.
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