Adeptus Health Inc. (ADPT) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

ADPT News - For Immediate Release

ADEPTUS HEALTH REPORTS FOURTH QUARTER AND YEAR END RESULTS

Net Revenue Increased 108.0% for Fourth Quarter

Net Revenue Increased 104.8% for Full Year

29 New Facilities Opened during the year for a total of 55 Freestanding Facilities

Lewisville, Texas (February 19, 2015) — Adeptus Health Inc. (NYSE: ADPT) (“ADPT” or the “Company”), the largest operator of freestanding emergency rooms in the U.S., announced its results for the fourth quarter and full year ended December 31, 2014. All comparisons included in this release are for the same period in the prior year, unless otherwise noted.

Fourth Quarter 2014 Highlights:

                 Net revenue increased 108.0% to $70.1 million from $33.7 million in prior year;

                 Adjusted EBITDA increased 54.5% to $10.2 million from $6.6 million in prior year;

                 Net income attributable to Adeptus Health Inc. was $0.3 million;

                Adjusted earnings per share was $0.09 and GAAP earnings per share was $0.03;

                Patient volume (number of patient visits) increased 91.1%, to 47,643, over prior year; and

                The Company opened 4 freestanding facilities during the fourth quarter 2014 for a full year total of 55 operating facilities. 

Year End 2014 Highlights:

                 Net revenue increased 104.8% to $210.7 million from $102.9 million in prior year;

                 Adjusted EBITDA increased 76.1% to $28.2 million from $16.0 million in prior year;

                 Net loss attributable to Adeptus Health Inc. was $3.4 million;

                Adjusted earnings per share was $0.04 and GAAP net loss per share was $0.34;

                Patient volume (number of patient visits) increased 89.6%, to 146,058, over prior year; and

                The Company opened 29 freestanding facilities during 2014 for a total of 55 operating facilities.

2015 Guidance:

                 Systemwide net revenue of $367.0 million to $377.0 million; Adjusted EBITDA of $49.0 million to $53.0 million.

“2014 was a milestone year of expansion for Adeptus Health.  We added 29 new emergency rooms, more than doubling our number of freestanding facilities, built our first hospital and maintained our focus of delivering the highest quality care to the communities we serve.  Our patients rated our care among the top 1% in the nation, our team members voted us among the best companies to work for, and our partnership with an industry leader is expanding our model into new markets to enhance the continuum of care,” said Thomas S. Hall, Chairman, President and Chief Executive Officer.