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Signify Health, Inc. (NYSE: SGFY) announced the successful refinancing of its credit facilities, reducing total debt from $411 million to $350 million. The new agreement includes a $350 million senior secured first lien term loan due in June 2028 and a $185 million revolving credit facility due in June 2026. This refinancing is expected to lower annual interest expenses by approximately $10 million, enhance financial flexibility, and support future growth initiatives.
Signify Health (NYSE: SGFY) and The Children’s Oncology Group (COG) announce a partnership to facilitate at-home clinical trial participation for pediatric patients with B-cell acute lymphoblastic leukemia (B-ALL). This initiative expands in-home infusion services for patients involved in COG Study AALL1731, allowing them to receive experimental treatments without traveling to treatment centers. The collaboration aims to alleviate the emotional and financial burden on families, improve clinical trial access, and enhance treatment adherence through a national network of credentialed clinicians.
Signify Health (NYSE: SGFY) appoints Susan Yun as Chief People Officer, bringing nearly 30 years of HR leadership experience. Her past roles include Chief People Officer at Information Builders and various HR leadership roles at General Electric and NBC Universal. CEO Kyle Armbrester emphasizes that Yun's expertise in transforming culture and performance will be crucial for the company’s growth. Signify Health aims to enhance employee development and support its mission of delivering value-based healthcare.
Signify Health (NYSE: SGFY) announced key executive appointments, welcoming Tracey Scraba as Senior Vice President, Deputy General Counsel, and Lisa Wagamon as Senior Vice President, Network Development. Scraba, formerly Chief Privacy Officer at CVS Health, will oversee legal support for Home & Community Services and the company's privacy function. Wagamon, bringing experience from Lee Health, will direct the strategy for Signify's extensive provider network of over 9,000 mobile healthcare professionals. These leadership changes aim to enhance Signify's value-based care platform.
Patient Discovery Solutions appointed Theresa West as Chief Commercial Officer on May 17, 2021, aiming to enhance commercialization efforts in healthcare technology. With over 20 years of experience, including significant roles at Signify Health and Abbott Laboratories, West's leadership is expected to drive growth across healthcare systems, insurers, and pharmaceuticals. Jason Shore, CEO, highlighted West's commercial talent as crucial for accelerating the company's expansion and achieving its mission to transform patient care through real-world data insights.
Signify Health, Inc. (NYSE: SGFY) reported a 37% increase in Q1 2021 revenue, reaching $180 million, driven primarily by a 48% rise in its Home & Community Services (HCS) segment. In-home evaluation volume surged to 462,000, an increase from 303,000 in Q1 2020.
However, the Episodes of Care Services (ECS) segment saw a slight revenue decline of 3%. The company recorded a net loss of $51.7 million, largely due to $56.8 million in expenses related to Equity Appreciation Rights. Signify Health maintains its 2021 guidance, forecasting total revenue between $725 million and $760 million.
Signify Health (NYSE: SGFY) has appointed Heather Dixon, CPA, to its board of directors, where she will serve on the audit committee. Dixon brings extensive finance leadership experience from her roles at Walgreens Boots Alliance and Aetna, enhancing Signify's strategic capabilities in the value-based healthcare sector. CEO Kyle Armbrester emphasized her expertise will support the company's mission to drive forward its strategy of facilitating healthcare payment programs that prioritize outcomes. Dixon expressed enthusiasm for contributing to this transformative journey.
Signify Health, Inc. (NYSE: SGFY) announced its upcoming financial results for Q1 2021, set to be released after market close on May 11, 2021. A conference call to discuss these results will occur on May 12, 2021, at 9:00 a.m. ET. Participation in the call requires pre-registration. Signify Health focuses on value-based healthcare, utilizing advanced analytics and technology for improved patient outcomes and cost savings. Their mission is to enhance care delivery by aligning financial incentives with outcomes.
Signify Health (NYSE: SGFY) reported a strong 2020, with a 22% revenue growth, totaling $610.6 million. The fourth quarter saw revenues surge 45% to $193.5 million, driven largely by a 65% increase in Home and Community Services (HCS) segment revenue. The company achieved a net income of $0.7 million, a turnaround from a $8 million loss the previous year. They anticipate further growth in 2021, projecting revenue between $725 million and $760 million. The IPO on February 11, 2021, raised approximately $609.7 million.
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