Ardent Health Partners, Inc. - ARDT STOCK NEWS

Ardent Health has partnered with Qventus to optimize its robotics program and drive strategic surgical growth using AI-powered solutions. Qventus' Perioperative Solution intelligently markets operating room (OR) time to surgeons based on strategic objectives and personalized patterns, ensuring optimal surgery scheduling. This approach has delivered a 7x annualized ROI for Ardent.

The solution addresses common OR efficiency challenges, such as underutilization and misutilization of capacity. It prioritizes strategic cases, empowers surgeons to release unused block time early, enables precision open time marketing, and provides actionable market insights. Ardent chose Qventus for its ability to deliver significant ROI quickly and analyze market data for customized insights.

This partnership aims to improve patient access to timely surgeries across Ardent's U.S. communities while driving strategic growth for the health system.

Ardent Health (NYSE: ARDT) has been added to the Russell 3000® Index and Russell 2000®, effective September 23, 2024, as part of the quarterly U.S. Russell Index Initial Public Offering (IPO) update. This inclusion signifies Ardent's automatic membership in the appropriate growth and value style indexes.

Ardent's President and CEO, Marty Bonick, expressed satisfaction with this development, viewing it as an opportunity to increase awareness of Ardent's growth story and expand its investor base. He emphasized the company's focus on delivering sustainable growth and value while building a consumer-focused ecosystem of care.

The Russell indexes, widely used by investment managers and institutional investors, serve as benchmarks for approximately $9 trillion in assets. This inclusion represents a significant milestone for Ardent Health, potentially increasing its visibility in the investment community.

Ardent Health (NYSE: ARDT) has successfully repriced its term loans, reducing the interest rate by 50 basis points from Term SOFR plus 3.25% to Term SOFR plus 2.75%. This amendment to the term loan credit agreement also eliminates the credit spread adjustment. The maturity and other terms remain largely unchanged. This strategic move is expected to reduce Ardent's borrowing costs and generate annual interest expense savings of approximately $5 million.

CFO Alfred Lumsdaine stated that this repricing enhances free cash flow conversion and provides additional flexibility for executing capital allocation priorities. The optimized cost of capital is aimed at facilitating efficient investment in high-growth opportunities as Ardent continues to expand its consumer-focused healthcare delivery model and create long-term shareholder value.

Ardent Health (NYSE: ARDT) has appointed Dave Styblo as senior vice president of investor relations. Styblo, with over 20 years of investment experience, will oversee Ardent's investor relations program and serve as the primary liaison with investors, analysts, and financial partners. His background includes roles as a sell-side analyst at Jefferies focusing on healthcare services and managed care stocks, and as an independent investor relations advisor to healthcare companies.

Styblo's appointment comes as Ardent begins its journey as a public company. Alfred Lumsdaine, Ardent Health's CFO, expressed confidence that Styblo's deep experience and industry knowledge will be valuable in building strong relationships and communicating Ardent's story to the investment community.

Ardent Health Partners (NYSE: ARDT) announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference from September 4-6, 2024, in New York. CEO Marty Bonick and CFO Alfred Lumsdaine will engage in a fireside chat on September 5 at 10:00 a.m. ET. The presentation will be livestreamed on Ardent Health's Investor Relations website, with a 90-day replay available.

The management team will also be available for one-on-one meetings with registered investors. Ardent Health, a leading healthcare provider in growing mid-sized urban communities across the U.S., offers this opportunity for investors to gain insights into their operations and strategy.

Ardent Health Partners (NYSE: ARDT) reported strong Q2 2024 results with total revenue of $1.47 billion, up 7.5% year-over-year. Net income attributable to Ardent was $43 million, or $0.34 per share. Adjusted EBITDA increased 20% to $122 million. The company saw a 3.4% increase in adjusted admissions and a 4.1% rise in net patient service revenue per adjusted admission.

Ardent completed its IPO in July, raising $209 million in net proceeds. For full-year 2024, the company projects revenue between $5.75-$5.90 billion and Adjusted EBITDA of $415-$435 million. The guidance reflects expected adjusted admissions growth of 4.0-4.5% and net patient service revenue per adjusted admission growth of 2.3-4.4%.

Ardent Health Partners (NYSE: ARDT) has announced the date for its second quarter 2024 results conference call and webcast. The company will release its financial results after market close on Wednesday, August 14, 2024. A conference call to discuss the results will be held on Thursday, August 15, 2024, at 10:00 a.m. ET. Investors can access the webcast and presentation materials through Ardent's Investor Relations website. To participate in the live teleconference, US callers can dial 1-888-596-4144, while international callers should use 1-646-968-2525, with the access code 4437657. A replay of the call will be available until August 22, 2024.

Ardent Health Partners (NYSE: ARDT) has successfully closed its initial public offering (IPO) of 12,000,000 shares of common stock at $16 per share, raising approximately $192 million in gross proceeds. The company has granted underwriters a 30-day option to purchase an additional 1,800,000 shares. Ardent Health, a leading healthcare provider in growing midsize urban communities across the U.S., began trading on the New York Stock Exchange on July 18, 2024, under the ticker symbol 'ARDT'.

The company plans to use the net proceeds for working capital, acquisitions, debt repayment, and capital expenditures. J.P. Morgan, BofA Securities, and Morgan Stanley acted as lead book-running managers for the offering, with several other firms participating as bookrunners and co-managers.