UpHealth, Inc. - UPH STOCK NEWS

UpHealth, Inc. (NYSE: UPH) reported strong third-quarter results for 2021, with revenue of $49.1 million, reflecting a 25% increase from the previous quarter. The gross margin expanded to 40%, up from 36%. Net income was $32.6 million, or $0.28 per fully diluted share, bolstered by a gain from derivative liabilities. Pro forma revenue year-to-date was $118.8 million, up 38% year-over-year. UpHealth raised $43.0 million post-quarter to enhance liquidity. The company aims for $180 million in revenue for 2021 and adjusted EBITDA of $16-20 million.

UpHealth, Inc. (NYSE: UPH) will release its financial results for the third quarter ending September 30, 2021, after market close on November 10, 2021. A management webcast discussion will accompany the press release, followed by a live Q&A session at 5:00 p.m. ET. UpHealth focuses on modernizing healthcare delivery through digital health solutions and serves clients globally, including governments and healthcare providers. For further details, the webcast will be archived for approximately 30 days on their Investor Relations website.

UpHealth (NYSE:UPH) partners with Mazars to develop a comprehensive compliance roadmap aimed at enhancing its compliance program. This collaboration focuses on operations, governance, security, and privacy, ensuring UpHealth adheres to regulatory standards while maximizing shareholder value. The Mazars team, led by healthcare compliance experts, will support immediate compliance needs and establish a long-term governance structure to prepare UpHealth for strategic partnerships. This partnership reflects UpHealth's commitment to maintaining high compliance standards in the evolving healthcare sector.

UpHealth, Inc. (NYSE:UPH) has appointed Sarah Arnquist as the senior vice president of its Behavioral Health Business. Arnquist, an experienced healthcare executive with a strong background in Medicaid policy, will focus on expanding UpHealth's services in California, particularly through CalAIM. Her role emphasizes the integration of medical and behavioral health. CEO Ramesh Balakrishnan highlighted Arnquist's expertise in innovative care models aimed at vulnerable populations. Her previous roles include leadership at Beacon Health Options and research at Harvard's School of Public Health.

UpHealth, Inc. (NYSE: UPH) announced the issuance of 3,450,000 additional shares following the full exercise of an over-allotment option during its public offering. This brings the total shares sold to 26,450,000, generating approximately $46.3 million in gross proceeds. The company intends to utilize the net proceeds for working capital, strategic growth activities, and obligations related to its June 2021 business combination. Oppenheimer & Co. acted as the sole book-running manager for the Offering.

UpHealth, Inc. (NYSE: UPH) has announced the launch of NUTRAscriptives™ Direct, expanding its clinical-grade supplement line. This service enables healthcare providers to offer high-quality nutritional supplements directly to patients via an app, requiring no inventory investment. With expedited shipping, it supports providers in generating additional revenue with a proven ROI. Currently in beta testing, the service will launch in Q1 2022 across the U.S. and Puerto Rico. UpHealth aims to enhance patient care through its digital health solutions and commitment to regulatory compliance.

UpHealth, Inc. (NYSE: UPH) announced a pricing of its public offering of 23 million shares at $1.75 each, aiming for gross proceeds of approximately $40.25 million. The offering includes a 30-day option for underwriters to purchase an additional 3.45 million shares. Proceeds will be allocated for working capital, strategic growth activities, and repaying obligations from its June 2021 business combination. The offering is set to close on October 7, 2021, subject to customary conditions.

UpHealth, Inc. (NYSE: UPH) announced a partnership with TSHELA to establish 260 high-tech digital clinics in the Democratic Republic of Congo (DRC), aiming to enhance healthcare access. Expected revenue from this five-year agreement totals $136 million, with UpHealth projected to receive $66.6 million. The state-of-the-art facilities will feature advanced technology for digital patient care, opening their doors in early 2022. This initiative aims to tackle significant healthcare challenges, including low access rates and high mortality rates in the DRC.

UpHealth, Inc. (NYSE: UPH) is enhancing its virtual care services by providing remote language interpretation to underserved communities. This expansion includes eight new health facilities, facilitating 260,000 annual encounters. CEO Ramesh Balakrishnan emphasized the importance of addressing disparities in access to healthcare. The initiative aims to integrate language access into care delivery, supporting diverse patients effectively. UpHealth's services now span telepsychiatry and other telehealth solutions, operating in over 1,900 healthcare locations across the U.S.