NUTEX HEALTH ANNOUNCES THE OPENING OF ITS FLAGSHIP URGENT CARE CENTER IN SOUTHERN CALIFORNIA

HOUSTON, May 3, 2023 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 20 state-of-the-art micro hospitals in 8 states and primary care-centric, risk-bearing physician networks, today announced the opening of its flagship urgent care center in Southern California.

The new urgent care center is located in Alhambra, California, and offers walk-in treatment for everyday illnesses and injury, including advanced offerings such as minor procedures.  Nutex Health acquired the two-story building located centrally at 425 West Main Street in Alhambra due to its location close to Associated Hispanic Physicians ("AHP"), its independent practice association ("IPA") in Los Angeles.  AHP currently has approximately 25,000 patients under capitated risk arrangements with multiple health plans.  Nutex Health currently does not own a microhospital in Los Angeles and believes that it can take better and more efficient care of not only AHP's patients but also other patients requiring urgent care services.  The administrative office of AHP has also been moved from Monterey Park, CA to  our building in Alhambra.

"While our core business is to operate microhospitals and IPAs, we decided to open our first-ever urgent care center in Los Angeles to better serve our own AHP patients as well as all other patients in the community," stated Tom Vo, M.D., MBA, Chairman and CEO of Nutex Health.

"We are excited to open our first urgent care center and look forward to providing our patients and providers with increased access to quality care.  We also believe that our new center should lead to a reduced medical loss ratio ("MLR") at AHP, resulting in increased profits," stated Warren Hosseinion, M.D., President of Nutex Health.

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 20 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-K for the period ended December 31, 2022 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.