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The Oncology Institute, Inc. (NASDAQ: TOI) is a leading cancer treatment and research organization focused on providing high-quality, value-based oncology care. Founded in 2007, TOI has established itself as a premier provider of comprehensive cancer treatment with over 70 clinic locations and a team exceeding 110 clinicians. The Institute offers a wide range of services, including infusion centers, outpatient blood transfusions, stem cell transplants, financial counseling, clinical trials, comprehensive lab testing, and end-of-life counseling.
TOI operates in three primary segments: dispensary services, patient services, and clinical trials. The core of its operations lies in patient services, where personalized care plans are developed in collaboration with patients and their families to meet their unique needs. TOI’s mission is to advance oncology by making cutting-edge, evidence-based cancer care accessible within the community setting.
In recent developments, TOI announced a strategic partnership with WellBe Senior Medical to extend its High-Value Cancer Care Program to eligible patients in Illinois and Ohio. This initiative aims to enhance patient satisfaction, reduce acute care facility utilization, and support patients throughout their cancer treatment journey. Furthermore, TOI has joined Carrum Health’s Centers of Excellence network, providing high-value oncology care to non-metastatic breast cancer patients in Las Vegas.
TOI’s commitment to innovation in oncology care is also highlighted through its strategic collaboration with Healthly, a growing healthcare company focused on preventive medicine. Starting July 2024, TOI will offer its specialized cancer care services to Healthly’s affiliated patients and physicians across Southern California. This collaboration underscores TOI’s dedication to providing accessible and comprehensive cancer care in community settings.
Financially, TOI has a strong foundation supported by revenue generated predominantly from patient services. The Institute continues to expand its influence through partnerships and value-based care agreements, ensuring a sustainable and impactful presence in the oncology landscape. For more information, please visit theoncologyinstitute.com.
The Oncology Institute (NASDAQ: TOI) reported an adjustment to its financials for Q4 and FY 2022, resulting in a $1.5 million increase in net loss for Q4 and a $1.5 million decrease in net income for the full year. In Q4, revenue rose 36.6% to $71 million, while gross profit increased 87.6% to $16 million. The company ended 2022 with $132 million in cash. Despite facing challenges, TOI exceeded revised revenue and EBITDA guidance. For 2023, the company forecasts revenue of $290-$320 million, up 15%-27%, and anticipates a net loss of $(25) to $(28) million, while projecting growth in value-based lives to 1.75-2 million.
The Oncology Institute reported a 36.6% revenue increase to $71 million for Q4 2022, with a net loss of $9.5 million, improved from a loss of $10.2 million in Q4 2021. Full-year revenue reached $252 million, up 24.4%, with a net income of $1.7 million, a significant increase from the prior year. The company ended 2022 with $132 million in cash and completed six practice acquisitions, expanding its market count from 10 to 15. They anticipate 2023 revenue guidance between $290 million and $320 million, reflecting 15% to 27% growth over 2022. Adjusted EBITDA for 2023 is projected at $(25) to $(28) million.
The Oncology Institute (NASDAQ: TOI) announced participation in key investor conferences in March 2023. Senior management will present at:
- Cowen 43rd Annual Healthcare Conference on March 7 at 2:50 PM ET in Boston, featuring Daniel Virnich, M.D., MBA, President.
- Oppenheimer 33rd Annual Healthcare Conference on March 13 at 10:00 AM ET, virtually, featuring Brad Hively, CEO.
- Jefferies Value-Based Healthcare Summit on March 13 at 1:15 PM ET in Miami, also featuring Brad Hively, CEO.
Webcasts of the presentations will be available for interested investors on the company’s website.
The Oncology Institute (TOI) will release its Q4 & full year 2022 financial results after market close on March 9, 2023. A conference call will follow at 5:00 p.m. ET. Investors can participate via phone or by accessing a webcast through the Investor Relations section of TOI's website. TOI, founded in 2007, specializes in value-based cancer care, servicing approximately 1.7 million patients with over 90 clinicians and more than 700 teammates across 50+ locations. The company is focused on advancing oncology with evidence-based care and innovative delivery models.
The Oncology Institute (NASDAQ: TOI) has acquired the practice of Dr. Labib Hashimi in Chino, California, expanding its presence to 42 clinics in the state. This move aims to improve patient access in Los Angeles, Riverside, and San Bernardino Counties. The acquisition is a strategic response to growing demand for TOI's value-based care model, emphasizing quality outcomes and underserved populations. The Chino/Chino Hills Clinic will continue operations seamlessly under its new management, enhancing service provision in the community.
The Oncology Institute (NASDAQ: TOI) is rebranding its clinical research division from Innovative Clinical Research Institute (ICRI) to TOI Clinical Research.
This division will continue managing over 160 clinical trials in oncology, focusing on solid tumors and hematological malignancies.
TOI aims to improve access to the latest treatments and enhance health equity in underserved communities while maintaining its commitment to high-quality patient care and strategic partnerships in the biopharmaceutical industry.
TOI Expands into South Florida
The Oncology Institute (NASDAQ: TOI) has announced its entry into Miami-Dade County by acquiring Hematology/Oncology Associates of Miami. This expansion is part of TOI's strategy to enhance value-based cancer care in Florida. Dr. Roberto Ochoa has been appointed as the Senior Medical Director for the state, emphasizing a commitment to quality care for patients. The South Miami Clinic will continue operations during renovations, with additional locations planned for 2023. TOI aims to serve approximately 1.7 million patients, bolstered by a growing team of over 90 clinicians.
The Oncology Institute (NASDAQ: TOI) reported Q3 2022 financial results, showing a 24.3% revenue growth to $65 million compared to the prior year. Despite this growth, the net loss decreased slightly to $2.7 million. The company expanded its reach with acquisitions and new clinics, increasing clinician count by 27%. A strategic $110 million investment from Deerfield Management was completed to support growth. However, TOI updated its guidance for 2022, expecting revenue between $245 million and $250 million, lower than previous estimates due to acquisition delays.
The Oncology Institute, Inc. (NASDAQ: TOI) announced that CEO Brad Hively and CFO Mihir Shah will speak at the Credit Suisse 31st Annual Healthcare Conference on November 10, 2022. Founded in 2007, TOI is a leading value-based oncology group in the U.S., providing specialized cancer care to about 1.7 million patients through over 50 clinics. The institute employs more than 90 clinicians and focuses on advanced, evidence-based treatment options.
The Oncology Institute (TOI) announced it will release its third quarter financial results on November 9, 2022, after market close. The results will be followed by a conference call at 5:00 p.m. Eastern Time. Investors can access the call via phone or live webcast through the company's Investor Relations website. Founded in 2007, TOI provides value-based oncology care to approximately 1.7 million patients, supported by over 90 clinicians across 50 clinic locations. For further information, visit their official website.
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