CNVY - CNVY STOCK NEWS

Convey Health Solutions (NYSE: CNVY) has announced a strategic partnership with GA Foods to enhance Medicare Advantage (MA) member benefits. This partnership will allow members to use their supplemental benefits for home-delivered healthy foods and over-the-counter (OTC) products. Convey's President, Jason Montrie, emphasized the importance of access to nutritious food for improving health outcomes, particularly for vulnerable populations. GA Foods aims to provide streamlined meal delivery services, enhancing member engagement while meeting the demand for nutritious options.

Convey Health Solutions (NYSE: CNVY) reported Q3 2021 net revenues of $82.4 million, a 19% increase from Q3 2020. The company achieved a net income of $3.7 million, reversing a $1.7 million loss in the prior year. Adjusted EBITDA rose 21% to $18.3 million. For full year 2021, Convey anticipates net revenues between $335 million and $340 million and Adjusted EBITDA of $67 million to $69 million, indicating a 19% and 32% year-over-year growth respectively. Strong performance in both Technology Enabled Solutions and Advisory Services segments was noted.

Convey Holding Parent, Inc. (NYSE: CNVY) has officially changed its corporate name to Convey Health Solutions Holdings, Inc. as of November 4, 2021. This name change is intended to better reflect the company's focus on healthcare technology and services. Importantly, the change will not affect the company’s operations or the ticker symbol, which remains CNVY.

Convey Holding Parent, Inc. (NYSE: CNVY) will release its fiscal third quarter 2021 financial results on November 10, 2021, after market close. Following the release, a conference call to discuss the results will be held at 5:00 PM ET. Investors can access the call by dialing (844) 200-6205 for U.S. participants or +44 208-0682-558 for international participants, using access code 273613. The audio webcast will also be available on their Investor Relations website.

Convey Holding Parent, Inc. (NYSE: CNVY) announced it will change its corporate name to Convey Health Solutions Holdings, Inc., effective November 4, 2021. This change aims to better reflect the company's focus on healthcare technology and services. The operational structure will remain unaffected, and the stock ticker symbol CNVY will stay the same. Convey specializes in providing compliant member support solutions for government-sponsored health plans, enhancing user experience in the Medicare landscape.

Convey Holding Parent, Inc. (NYSE: CNVY) reported strong financial results for Q2 2021, with net revenues of $75.2 million, up 22% compared to Q2 2020. Adjusted EBITDA reached $15.2 million, a 63% year-over-year increase. The company raised $146.1 million in its IPO, primarily used to reduce debt. Despite a net loss of $13.1 million attributed to IPO-related expenses, Convey expects continued growth, projecting full-year revenues of $330-$340 million and EBITDA of $66-$68 million, reflecting an 18% and 30% annual growth, respectively.

Convey Holding Parent, Inc. (NYSE: CNVY) will announce its fiscal second quarter 2021 financial results on August 12, 2021, after market close. A conference call to discuss these results will follow at 5:00 p.m. ET. Interested parties can join by calling (844) 200-6205 for U.S. participants or +44 208-0682-558 for international attendees, using conference ID # 496860. A live audio webcast will also be available on Convey's Investor Relations website. The earnings release and additional materials will be accessible on the same platform.

On July 27, 2021, InComm Payments announced a partnership with Convey Health Solutions (NYSE: CNVY) to enhance OTC benefits for health plans. This collaboration utilizes Convey's OTC benefit administration solution, allowing health plan members access to approved products from over 65,000 retailers. The initiative aims to improve members' health experiences by enabling the use of health plan funds for a range of healthcare products, including medications and personal care items. This partnership is part of InComm's ongoing efforts to expand healthcare product access.

Convey Holding Parent, Inc. (NYSE: CNVY) announced a management change on June 28, 2021, with Arjun Aggarwal transitioning to an advisory role and joining Rubicon Founders as an Operating Partner. Kyle Stern will lead the Advisory Services segment. CEO Stephen Farrell emphasized their commitment to increasing shareholder returns, targeting over 15% annual revenue growth and over 20% Adjusted EBITDA growth. The company reported $59.6 million in Adjusted EBITDA and a net loss of $0.5 million for the twelve months ending March 31, 2021, alongside a significant stock purchase by management.