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The Oncology Institute of Hope and Innovation is a premier cancer treatment center in Los Angeles, offering comprehensive programs to support patients and families dealing with cancer. Their dedicated team provides personalized treatment plans and services across 8 locations in Southern California.
The Oncology Institute Inc focuses on cancer prevention, diagnosis, treatment, research, and education. Services include infusion centers, in-house dispensary, outpatient transfusions, stem cell transplants, financial counseling, clinical trials, lab testing, and end-of-life support. The company operates in three segments: dispensary, patient services, and clinical trials.
The Oncology Institute (NASDAQ: TOI) reported a strong second quarter for 2022, with revenue at $61 million, up 22.2% year-over-year. Despite this growth, the company faced a net loss of $5 million compared to a net income of $3 million in the previous year. They completed a $110 million investment from Deerfield Management, aimed at supporting expansion. The company maintains its 2022 guidance, projecting revenue between $270 million and $310 million and an adjusted EBITDA loss of $20 to $25 million. Overall, TOI continues its growth trajectory with a focus on value-based oncology.
The Oncology Institute (NASDAQ: TOI) announced a $110 million investment from Deerfield Management Company to accelerate its growth in the oncology market. The investment will involve issuing 4% secured senior convertible notes, maturing on August 9, 2027, which can be converted into approximately 12.84 million shares of common stock at an initial price of $8.567. This capital will expand TOI's patient access to high-quality, value-based care. The net proceeds are estimated at $106 million, aimed at funding acquisitions and general corporate purposes.
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.
The Oncology Institute (TOI) will announce its second-quarter results on August 9, 2022, after market close. A conference call will follow at 5:00 p.m. ET, providing insights into its performance and business strategies. Investors can access the call by phone or listen via a live webcast on TOI's Investor Relations website. Established in 2007, TOI specializes in value-based cancer care, serving over 1.5 million patients across more than 50 locations with advanced oncology services and a team of 80+ clinicians.
The Oncology Institute, Inc. (NASDAQ: TOI) announced the acquisition of Dr. Ranjan Sapra's practice, enhancing its presence in Orange County, California. This merger expands TOI’s network to 93 physicians and advanced providers across 55 clinics in five states. Patients will access over 170 clinical trials, physician dispensary services, and various treatment programs. Effective July 1, 2022, Dr. Sapra’s practice will relocate to TOI’s Fountain Valley clinic. The partnership aims to improve patient care while maintaining uninterrupted services during the transition.
The Oncology Institute (NASDAQ: TOI) announced an expanded partnership with McKesson Corporation focused on drug distribution and clinical technology. This multi-year agreement aims to streamline TOI’s pharmaceutical logistics and support its growth strategy. CEO Brad Hively emphasized the importance of this partnership for enhancing high-value oncology care delivery. Since 2007, TOI has been providing specialized cancer care, performing over 57,000 infusions and prescribing more than 8,000 chemotherapeutics annually.
CERRITOS, Calif., June 21, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute (NASDAQ: TOI), a leading value-based oncology group, announced CEO Brad Hively's participation in the 'Value-Based Care for Medicare' panel at the Cowen FutureHealth Conference on June 22 at 3:25 pm EST. Established in 2007, TOI provides specialized, evidence-based cancer care to around 1.5 million patients through over 50 clinics and 80+ employed clinicians, advancing oncology care significantly.
On June 7, 2022, The Oncology Institute (NASDAQ: TOI) announced its inclusion in the Russell 2000 and Russell 3000 Indexes, effective June 27, following the annual reconstitution. This milestone reflects TOI's growth since going public in November 2021. The Russell indexes, widely utilized by investment managers, encompass 4,000 of the largest US stocks, ranked by market capitalization. Brad Hively, CEO, expressed enthusiasm for educating stakeholders about TOI's innovative oncology care and strategic achievements. Russell indexes manage approximately $12 trillion in assets.
The Oncology Institute (NASDAQ: TOI) is enhancing community cancer care in Austin, Texas, with two new clinics that opened on May 31, 2022. These facilities focus on comprehensive medical oncology services, including private exam rooms, infusion spaces, and access to clinical trials. The organization emphasizes value-based oncology care, targeting better patient outcomes and reduced financial burdens. TOI aims to disrupt the $200B industry by providing innovative treatment models while committing to patient satisfaction and community support.
The Oncology Institute, Inc. (NASDAQ: TOI) announced CEO Brad Hively's participation in two upcoming investor conferences. The first is the UBS Healthcare Conference on May 24, 2022, at 10:00 AM ET in New York, followed by the Jefferies Healthcare Conference on June 8, 2022, at 4:30 PM ET, also in New York. Interested parties can access live webcasts via the Investor Relations section of their website. Founded in 2007, TOI offers specialized, value-based cancer care to approximately 1.5 million patients across over 50 clinic locations.
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