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Exhibit 99.1

 

 

ADPT News - For Immediate Release

 

 

 

 

 

 

 

 

 

 

 

 

 

ADEPTUS HEALTH REPORTS THIRD QUARTER 2015 RESULTS AND RAISES FULL YEAR GUIDANCE

 Systemwide Revenue Increased 89% 

Net Operating Revenue Increased 53% 

Adjusted EBITDA Increased 166% 

 

Lewisville, Texas (October 22, 2015) — Adeptus Health Inc. (NYSE: ADPT) (“ADPT” or the “Company”), the largest operator of freestanding emergency rooms in the U.S., anno

unced its results for the third quarter ended September 30, 2015. All comparisons included in this release are for the same period in the prior year, unless otherwise noted.

 

Third Quarter 2015 Highlights:

 

·

 Systemwide net patient services revenue was $109.0 million versus $57.6 million in prior year, an increase of 89%;

 

·

Net operating revenue was $88.2 million versus $57.6 million in prior year, an increase of 53%;

 

                 Adjusted EBITDA was $18.6 million versus $7.0 million in prior year, an increase of 166%;

 

                 Adjusted earnings per share was $0.31 and GAAP earnings per share was $0.05;

 

                Net income attributable to Adeptus Health Inc. was $0.7 million;

 

                Cash flow provided by operating activities was $4.0 million versus a usage of $14.1 million in prior year; and

 

               The Company opened six freestanding facilities during the third quarter 2015.

 

2015 Guidance

 

Based on our strong performance in the third quarter of 2015 and continued full year growth plans including 24 freestanding facilities and two new hospitals, we are raising our annual guidanceWe expect systemwide net patient services revenue, which includes revenue from our unconsolidated joint ventures, of $405.0 million to $410.0 million for the full year 2015. We expect Adjusted EBITDA of $73.0 million to $75.0 million and Adjusted earnings per share of $1.20 to $1.25 for the full year 2015.

 

Results of Operations for the Third Quarter 2015

 

Thomas S. Hall, Chairman and CEO, stated, “We are pleased with the third quarter results and the progress we are making in executing our strategy. During the quarter, we opened six additional freestanding emergency rooms, announced entry into our fourth state through a new partnership with Ochsner Health System in Louisiana, and prepared to open our second hospital.  As we continued to deliver on our growth plan, we further strengthened our financial position by closing on a  new $175 million senior credit facility, which will both lower our borrowing costs and enhance our flexibility in funding our growth going forward. We are especially proud of the role we, and our partners, are playing in expanding access to the highest quality emergency care in more and more communities. 

 

So far this year, ADPT has opened 22 new facilities, including 12 freestanding emergency facilities in Texas, five freestanding emergency facilities in Colorado, which are part of our partnership with University of Colorado Health and our first hospital, and four freestanding emergency facilities in Arizona with partner, Dignity Health. ADPT will open its second hospital in Dallas-Fort Worth in Q4 2015. Additionally, construction has begun on two hospitals in Colorado and one in Houston, Texas.


The following information was filed by Adeptus Health Inc. on Thursday, October 22, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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