Welcome to our dedicated page for AdaptHealth news (Ticker: AHCO), a resource for investors and traders seeking the latest updates and insights on AdaptHealth stock.
AdaptHealth Corp. (NASDAQ: AHCO) is a leading provider of patient-centered, healthcare-at-home solutions across the United States. Operating in 47 states, AdaptHealth offers a comprehensive range of home medical equipment (HME) and services to help patients manage chronic conditions and improve their quality of life in the comfort of their homes.
Founded on the principle that everyone deserves a comfortable and independent life, AdaptHealth's offerings include sleep and respiratory therapy, diabetes management supplies, mobility products, wound care, non-invasive ventilation, and nutritional support. Their clinically-focused services assist patients with daily living activities, supporting approximately 4.1 million patients annually through a network of around 670 locations.
The company's core offerings include sleep therapy equipment (including CPAP and biPAP services) for those with obstructive sleep apnea, medical devices for diabetes management (such as continuous glucose monitors and insulin pumps), and oxygen therapy and related chronic care services. Additionally, AdaptHealth provides specialized HME devices and supplies for wound care, urological, incontinence, ostomy, and nutritional needs.
AdaptHealth is renowned for its extensive partnerships with a diverse network of referral sources, including acute care hospitals, sleep labs, pulmonologists, skilled nursing facilities, and clinics. The company serves beneficiaries of Medicare, Medicaid, and commercial insurance payors, making it a cornerstone in the provision of at-home medical care in the U.S.
Despite facing challenges, AdaptHealth has shown remarkable financial resilience and growth. The company reported a net revenue of $793.3 million for the second quarter of 2023, an increase of 9% compared to the same period in 2022. Their adjusted EBITDA reached $171.0 million, up by 14%, showcasing robust financial health and operational efficiency.
Going forward, AdaptHealth continues to focus on enhancing its service offerings and operational efficiency under new leadership. The recent appointment of Suzanne Foster as Chief Executive Officer marks a significant step in the company’s strategic direction, aimed at furthering its mission to deliver high-quality, patient-centered care.
For more detailed financial results and updates, visit AdaptHealth’s official website.
AdaptHealth Corp. (NASDAQ: AHCO) has announced the appointment of Greg Belinfanti to its Board of Directors, representing One Equity Partners. Belinfanti brings extensive board experience, having served on various healthcare-related boards, including Arthrocare (NASDAQ: ARTC). Brad Coppens, the previous OEP designee, will remain an independent director. Chairman Richard Barasch expressed appreciation for OEP's support and welcomed Belinfanti's expertise, which aims to strengthen the board's leadership and strategic direction.
AdaptHealth Corp. (NASDAQ: AHCO) has announced a successful pricing of $600 million in 5.125% senior notes due 2030, increasing from a previously planned $550 million. The offering is aimed at qualified institutional buyers and is expected to close on August 19, 2021. Proceeds will be used to repay existing promissory notes, pay off revolving credit, cover related fees, and for general corporate needs, including acquisitions. The notes will be guaranteed by certain subsidiaries and the Issuer’s parent company.
AdaptHealth Corp. (NASDAQ: AHCO) announced the commencement of a $550 million offering of senior notes due 2030 through its subsidiary, AdaptHealth LLC. These senior notes will be guaranteed by certain subsidiaries and the parent company on a senior unsecured basis. The net proceeds will be used to repay outstanding debt, including 12% promissory notes and amounts under its revolving credit facility, as well as for general corporate purposes. The offering is targeted at qualified institutional buyers and is not registered under the Securities Act.
AdaptHealth Corp. (NASDAQ: AHCO) has appointed Anton Hie as the new Vice President of Investor Relations. This newly created position will see Mr. Hie working closely with senior management to enhance the company's growth and competitive strategy, managing communications with shareholders and the investment community. With 20 years of experience in healthcare investment, including 12 years at RBC Capital Markets, Hie brings substantial expertise to the team. AdaptHealth serves approximately 3.3 million patients annually across 678 locations in 47 states.
AdaptHealth Corp. (NASDAQ: AHCO) reported record financial results for Q2 2021, achieving net revenue of $617.0 million, a 166% increase from Q2 2020. The company also saw a net income of $79.1 million ($0.12 per diluted share), up from $4.5 million. Adjusted EBITDA rose by 246% to $147.4 million. AdaptHealth completed four acquisitions during the quarter, contributing to significant organic growth of 10.1%. The company has increased its 2021 guidance, now expecting net revenue between $2.38 and $2.48 billion.
AdaptHealth Corp. (NASDAQ: AHCO) will release its Q2 2021 financial results on August 5, 2021, prior to market opening. A conference call will follow at 8:30 AM ET to discuss the results and business updates. AdaptHealth is a leading provider of at-home healthcare solutions, serving nearly 3 million patients annually across over 500 locations in 47 states. The company offers a range of products including sleep therapy, diabetes care devices, and home medical equipment, focusing on chronic condition management.
AdaptHealth Corp. (NASDAQ: AHCO) has appointed Stephen Griggs as Chief Executive Officer, effective immediately, following Luke McGee's resignation from the same position. Griggs, who joined AdaptHealth in February 2021 as Co-CEO, has a strong track record in the healthcare sector, having founded AeroCare and achieved two decades of consecutive revenue growth. The board expresses confidence in Griggs’ leadership as the company aims to enhance organic growth, improve chronic disease management, and pursue strategic acquisitions.
AdaptHealth Corp. (NASDAQ: AHCO) announced a series of virtual investor presentations featuring top executives. The schedule includes the Bank of America 2021 Healthcare Conference on May 12 at 9:30 am ET, the RBC Capital Markets Global Healthcare Conference on May 18 at 3:40 pm ET, the UBS Global Healthcare Virtual Conference on May 25 at 8:00 am ET, and the Jefferies Virtual Healthcare Conference on June 2 at 10:00 am ET. A live webcast and subsequent replays will be available through the AdaptHealth website.
AdaptHealth (NASDAQ: AHCO) announced Q1 2021 financial results, showing net revenue of $482.1 million, up 152% year-over-year. The company reported a net loss of $4.0 million or $0.08 per diluted share, an improvement from a $34.6 million loss in Q1 2020. Adjusted EBITDA soared 242% to $104.2 million. Following the acquisition of AeroCare and other strategic purchases, the company increased its 2021 guidance, now projecting revenues of $2.22 billion to $2.39 billion and adjusted EBITDA of $525 million to $565 million.
AdaptHealth Corp. (NASDAQ: AHCO) has successfully amended its senior secured credit facilities, increasing its term loan by $100 million and expanding its revolving credit capacity from $250 million to $450 million. The additional funds will primarily be used to repay existing revolving credit borrowings and facilitate acquisitions. The company's Co-CEO emphasized their growth strategy following the combination with AeroCare and highlighted the completion of 245 acquisitions since 2012. These changes are expected to enhance operational efficiencies and support future growth.
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