NUTEX HEALTH ANNOUNCES OVER 100% INCREASE IN MEDICARE ADVANTAGE ENROLLMENT

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Feb 05, 2024, 05:30 ET

Company enrolled over 2400 new Medicare Advantage patients during the annual enrollment period

HOUSTON, Feb. 5, 2024 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 20 state-of-the-art micro hospitals in 8 states and primary care-centric, risk-bearing physician networks, today announces that it has more than doubled its Medicare Advantage membership during the 2023 annual enrollment period from October to December 2023.

In Texas, Houston Physicians IPA ("HPIPA") enrolled over 1900 new Medicare Advantage ("MA") patients. In Florida, Managed Care Insurance Consultants ("MCIC") enrolled over 200 new MA patients, and in California, Associated Hispanic Physicians IPA ("AHP") enrolled 300 new MA members. In total, Nutex Health now has over 4500 MA members across its platform, in addition to over 6300 commercial members and over 21,000 Medicaid managed care members.

"The targeted investments we made in 2023 in our population health management division have resulted in a very successful annual enrollment period," stated Tom Vo, M.D., MBA, Chairman and Chief Executive Officer of Nutex Health.

"Nutex Health now has a presence in the top three states for seniors. California, Florida and Texas make up a quarter of the nation's seniors. We believe that our growth demonstrates that the model we honed in California can be replicated in other states," stated Warren Hosseinion, M.D., President of Nutex Health. "We intend to operationalize our IPA in Phoenix, Arizona in 2024 and to enter 1-2 more new markets this year."

About Nutex Health Inc.

Headquartered in Houston, Texas and founded in 2011, Nutex Health Inc. (NASDAQ: NUTX) is a healthcare management and operations company with two divisions: a Hospital Division and a Population Health Management Division.

The Hospital Division owns, develops and operates innovative health care models, including micro-hospitals, specialty hospitals, and hospital outpatient departments (HOPDs). This division owns and operates 20 facilities in 8 states.

The Population Health Management division owns and operates provider networks such as Independent Physician Associations (IPAs). Through our Management Services Organization (MSO), we provide management, administrative and other support services to our affiliated hospitals and physician groups. Our cloud-based proprietary technology platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of patients and providers, allowing us to deliver greater quality care more efficiently.

Forward-Looking Statements

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will", "will likely result," "expected to," "expects to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include, but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, including final rules implemented under the No Surprises Act and related regulatory guidance, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company's ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Annual Report on Form 10-K for the year ended December 31, 2022 and the Current Reports on Form 10-Q for the periods ended March 20, 2023, June 30, 2023, and September 30, 2023 under the heading "Risk Factors" in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

SOURCE Nutex Health, Inc.