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Adeptus Health Inc. (ADPT) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Adeptus Health Inc.

CIK: 1602367

 

 

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Exhibit 99.1

 

 

ADPT News - For Immediate Release

 

 

 

 

 

 

 

 

 

 

 

 

 

ADEPTUS HEALTH REPORTS FOURTH QUARTER AND YEAR END 2015 RESULTS AND PROVIDES 2016 GUIDANCE

Systemwide Revenue Increased 82% for Fourth Quarter

Adjusted EBITDA Increased 107% for Fourth Quarter

Adjusted EPS Increased 400% for Fourth Quarter

 

 

Lewisville, Texas (February 24, 2016) — 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, 2015. All comparisons included in this release are for the same period in the prior year, unless otherwise noted. See “Non-GAAP Financial Measures Description and Reconciliation” for further information related to Systemwide Revenue, Adjusted EBITDA and Adjusted earnings per share.

 

Fourth Quarter 2015 Highlights:

 

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Systemwide net patient services revenue was $127.8 million versus $70.3 million in prior year, an increase of 82%;

 

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Net operating revenue was $105.4 million versus $70.1 million in prior year, an increase of 50%;

 

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Adjusted EBITDA was $21.1 million versus $10.2 million in prior year, an increase of 107%;

 

·

Adjusted earnings per share was $0.45 and GAAP earnings per share was $0.09;

 

·

Cash flow provided by operating activities was $8.0 million versus a usage of ($3.9) million in prior year;

 

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Net income attributable to Adeptus Health Inc. was $1.3 million versus $0.3 million in prior year; and

 

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The Company opened seven freestanding facilities and one hospital during the fourth quarter 2015.

 

Year End 2015 Highlights:

 

·

Systemwide net patient services revenue was $425.3 million versus $210.9 million in prior year, an increase of 102%;

 

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Net operating revenue was $364.7 million versus $210.7 million in prior year, an increase of 73%;

 

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Adjusted EBITDA was $75.9 million versus $28.2 million in prior year, an increase of 169%;

 

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Adjusted earnings per share was $1.37 and GAAP earnings per share was $1.09;

 

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Cash flow provided by operating activities was $13.1 million versus a usage of ($24.7) million in prior year;

 

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Net income attributable to Adeptus Health Inc. was $13.2 million versus a loss of $3.4 million in prior year; and

 

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At year end, the Company had 81 freestanding facilities and two hospitals.

 


The following information was filed by Adeptus Health Inc. on Wednesday, February 24, 2016 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity/owners' Equity
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Operations
Accounts Payable And Accrued Expense (details)
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (tables)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Capital Leases (details)
Commitments And Contingencies - Insurance Arrangements (details)
Commitments And Contingencies - Leases (details)
Commitments And Contingencies - Operating Leases (details)
Debt
Debt (tables)
Debt - Components (details)
Debt - Details (details)
Debt - Future Aggregate Matuties (details)
Debt - Insurance Finance Agreements (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (details)
Derivative Instruments And Hedging Activities (tables)
Employee Benefit Plans
Employee Benefit Plans (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (details)
Goodwill And Other Intangible Assets (tables)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Income Taxes - Tax Receivable Agreement (details)
Investment In Unconsolidated Joint Venture (details)
Investment In Unconsolidated Joint Venture (tables)
Investment In Unconsolidated Joint Venture - Equity Method Investees (details)
Investment In Unconsolidated Joint Venture - Investment In Unconsolidated Joint Ventures (details)
Investment In Unconsolidated Joint Ventures
Net Income (loss) Per Share
Net Income (loss) Per Share (details)
Net Income (loss) Per Share (tables)
Organization
Organization (details)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Stock Based Compensation
Stock Based Compensation (details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Patient Revenue And Accounts Receivable (details)
Summary Of Significant Accounting Policies - Third-party Payors (details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Transactions With Related Parties
Transactions With Related Parties (details)
CIK: 1602367
Form Type: 10-K Annual Report
Accession Number: 0001558370-16-003672
Submitted to the SEC: Mon Feb 29 2016 2:32:50 PM EST
Accepted by the SEC: Mon Feb 29 2016
Period: Thursday, December 31, 2015
Industry: Hospitals

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