The Oncology Institute Continues its Nevada Expansion

Rhea-AI Summary

The Oncology Institute, Inc. (NASDAQ: TOI) has announced the acquisition of Dr. Nutan Parikh's practice in Las Vegas, enhancing its presence in the Nevada market. This partnership promises to expand access to value-based oncology care for local patients, supported by Dr. Parikh's established trust and experience. Patients will benefit from access to over 170 clinical trials, physician dispensary services, and community-based chemotherapy treatments. The integration of Dr. Parikh’s locations is aimed at improving patient care and accessibility in the greater Las Vegas area.

Positive

• Acquisition of Dr. Nutan Parikh's practice strengthens TOI's market position in Nevada.
• Increases patient access to over 170 clinical trials.
• Enhances patient services including comprehensive physician dispensary.

Negative

• None.

Las Vegas-based practice of Dr. Nutan Parikh to join TOI

CERRITOS, Calif., July 26, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI), one of the largest value-based community oncology groups in the United States, announced the acquisition of the practice of Dr. Nutan Parikh. The addition of Dr. Parikh’s locations further strengthens TOI’s position in the Nevada market and solidifies its role as a leading value-based oncology care provider.

“Thanks to the vast experience and trust that he has established with his patients throughout the years, Dr. Parikh and his team allow us to bring our unique model of value-based oncology care to more patients in the Nevada market,” shared TOI’s Chief Executive Officer, Brad Hively. “By adding Dr. Parikh’s locations to our growing footprint, TOI’s cutting-edge care will be more accessible to patients in the greater Las Vegas area.”

As a leading provider of value-based care, TOI delivers outstanding clinical outcomes and high patient satisfaction while avoiding the financial toxicity that often plagues cancer patients and their families. As a result of the partnership, Dr. Parikh’s patients will now have access to enhanced services, including:

• A leading clinical research program, offering patients access to more than 170 clinical trials.
  
  
• Comprehensive physician dispensary services that offer convenience, savings, and resources for financial assistance to patients receiving oral chemotherapeutics and injectables.
  
  
• Outpatient blood transfusion, multiple convenient clinics & community-based chemotherapy treatment
  

“I am happy to be joining an organization that is disrupting the oncology industry for the benefit of patients,” said Dr. Nutan Parikh “I look forward to offering TOI’s world-class services to my patients and working together to grow the practice in the Vegas community.”

Dr. Parikh and his team will continue to serve patients at their two Las Vegas-area locations 2904 W Horizon Ridge Pkwy #200, Henderson, NV 89074 and 6450 Medical Center St, Las Vegas, NV 89148 Ph# 702-471-7779 without interruption.

About TOI
Founded in 2007, The Oncology Institute of Hope and Innovation (TOI) is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of more than 1.5 million patients including clinical trials, stem cell transplants, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With 80+ employed clinicians and more than 600 teammates in 50+ clinic locations and growing, TOI is changing oncology for the better.

Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions and on the current expectations of The Oncology Institute and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of The Oncology Institute. These forward-looking statements are subject to a number of risks and uncertainties, including the outcome of judicial and administrative proceedings to which The Oncology Institute may become a party or governmental investigations to which The Oncology Institute may become subject that could interrupt or limit The Oncology Institute’s operations, result in adverse judgments, settlements or fines and create negative publicity; changes in The Oncology Institute’s clients’ preferences, prospects and the competitive conditions prevailing in the healthcare sector; the risk that any required regulatory approvals could adversely affect the company; failure to continue to meet stock exchange listing standards; the impact of COVID-19 on the company’s business; those factors discussed in the documents of TOI filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that The Oncology Institute presently does not know or that The Oncology Institute currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect The Oncology Institute’s expectations, plans or forecasts of future events and views as of the date of this press release. The Oncology Institute anticipates that subsequent events and developments will cause The Oncology Institute’s assessments to change. The Oncology Institute does not undertake any obligation to update any of these forward-looking statements. These forward-looking statements should not be relied upon as representing The Oncology Institute’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

Media
The Oncology Institute
Julie Korinke
JulieKorinke@theoncologyinstitute.com
(562) 735-3226 x 88806

Juan Lezama
juanlezama@theoncologyinstitute.com
(562) 374-8434

Investors
Solebury Trout
Maria Lycouris
mlycouris@soleburytrout.com

FAQ

What is the significance of TOI acquiring Dr. Nutan Parikh's practice?

The acquisition strengthens TOI's position in the Nevada market, enhancing access to value-based oncology care for patients.

How will Dr. Parikh's patients benefit from TOI's acquisition?

Patients will gain access to over 170 clinical trials, comprehensive physician dispensary services, and community-based chemotherapy treatments.

What is TOI's stock symbol?

TOI's stock symbol is NASDAQ: TOI.

When was the acquisition of Dr. Parikh's practice announced?

The acquisition was announced on July 26, 2022.

How many clinic locations does TOI have after the acquisition?

TOI operates over 50 clinic locations across the United States.