NUTEX HEALTH ANNOUNCES THE OPENING OF A NEW HOSPITAL IN LOUISIANA

Rhea-AI Summary

Nutex Health Inc. announced the opening of its newest microhospital, Covington Trace ER & Hospital, in Mandeville, Louisiana. The 21,000 square foot facility includes an emergency room, private exam rooms, inpatient beds, and in-house imaging, pharmacy, and laboratory services. This is Nutex Health's second microhospital in Louisiana and marks their 3rd new hospital opening this year. The company expects to open 2-3 more hospitals in 2023.

THIS IS THE COMPANY'S 3^RD NEW HOSPITAL IN 2023, WITH 2-3 MORE EXPECTED TO OPEN THIS YEAR

HOUSTON, July 5, 2023 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 21 state-of-the-art micro hospitals in 8 states and primary care-centric, risk-bearing physician networks, today announced the opening of its newest microhospital, Covington Trace ER & Hospital, in Mandeville, Louisiana.  The hospital is conveniently located at 4107 LA-59, on the Southeast corner of Interstate 12 and Highway 59.

The new state-of-the-art 21,000 square foot facility is open 24/7, 365 days a year, and includes an emergency room with 8 private exam rooms, 10 private inpatient beds, as well as in-house imaging, pharmacy, and laboratory services.

This is Nutex Health's second microhospital in Louisiana, accompanying Alexandria Emergency Hospital in Alexandria, LA. The Company is thrilled to expand its reach and partner with the team of highly skilled emergency physicians at Covington Trace ER & Hospital to bring patient-centered care to the Mandeville area.

"We are honored by the opportunity to bring our brand of medicine to the North Shore.  Our mission is to bring more accessibility to healthcare, and we look forward to serving the communities of Covington, Mandeville, Hammond, Slidell and beyond," stated Tom Vo, M.D., MBA, Chairman and Chief Executive Officer of Nutex Health. 

Dr. Vo added, "The Covington facility marks our 3^rd new hospital opening year-to-date, following Fort Smith and Albuquerque, moving us closer to achieving our 2023 target of 5-6 new hospital openings."

About Nutex Health Inc.

Headquartered in Houston, Texas and founded in 2011, Nutex Health Inc. (NASDAQ: NUTX) is a healthcare management and operations company with two divisions: a Hospital Division and a Population Health Management Division.

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 8 states.

The Population Health Management division owns and operates provider networks such as Independent Physician Associations (IPAs). Through our Management Services Organization (MSO), we provide management, administrative and other support services to our affiliated hospitals and physician groups. Our cloud-based proprietary technology platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of patients and providers, allowing us to deliver greater quality care more efficiently. 

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 Current Report on Form 10-Q for the period ended March 31, 2023 under the heading "Risk Factors" in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

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SOURCE Nutex Health, Inc.

FAQ

What is the name of the new microhospital opened by Nutex Health?

The new microhospital opened by Nutex Health is called Covington Trace ER & Hospital.

Where is the Covington Trace ER & Hospital located?

The hospital is conveniently located at 4107 LA-59, on the Southeast corner of Interstate 12 and Highway 59 in Mandeville, Louisiana.

What services are available at the Covington Trace ER & Hospital?

The hospital includes an emergency room with 8 private exam rooms, 10 private inpatient beds, as well as in-house imaging, pharmacy, and laboratory services.

How many microhospitals does Nutex Health have in Louisiana?

Nutex Health now has two microhospitals in Louisiana, including Covington Trace ER & Hospital and Alexandria Emergency Hospital in Alexandria, LA.

How many new hospitals has Nutex Health opened this year?

Nutex Health has opened three new hospitals this year, including Covington Trace ER & Hospital, Fort Smith, and Albuquerque.

What is Nutex Health's target for new hospital openings in 2023?

Nutex Health aims to open 5-6 new hospitals in 2023.