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Exhibit 99.1

 

 

ADPT News - For Immediate Release

 

 

 

 

 

 

 

 

 

 

 

 

 

ADEPTUS HEALTH REPORTS FIRST QUARTER 2016 RESULTS 

Systemwide Revenue Increased 67% for First Quarter

Adjusted EBITDA Increased 64% for First Quarter

Adjusted EPS Increased 194% for First Quarter

 

 

Lewisville, Texas (April 20, 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 first quarter ended March 31, 2016. 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.

 

First Quarter 2016 Highlights:

 

·

Systemwide net patient services revenue was $140.4 million versus $84.0 million in prior year, an increase of 67%;

 

·

Net operating revenue was $112.8 million versus $81.5 million in prior year, an increase of 38%;

 

·

Adjusted EBITDA was $21.7 million versus $13.3 million in prior year, an increase of 64%;

 

·

Adjusted earnings per share was $0.47 and GAAP earnings per share was $0.32;

 

·

Cash flow used in operating activities was $7.4 million versus $12.0 million in prior year;

 

·

Net income attributable to Adeptus Health Inc. was $4.5 million versus $0.6 million in prior year;

 

·

Same store revenue increased 12% and same store volumes increased 15% versus prior year, and;

 

·

The Company opened seven freestanding facilities during the first quarter 2016.

 

2016 Guidance

 

We continue to expect systemwide net patient services revenue, which includes revenue from our unconsolidated joint ventures, of $635.0 million to $665.0 million for the full year 2016. We expect Adjusted EBITDA of $108.0 million to 113.0 million and Adjusted earnings per share of $2.50 to $2.60 for the full year 2016.

 

Results of Operations for the First Quarter 2016

 

Thomas S. Hall, Chairman and CEO, stated, “We are pleased with our first quarter results, which were in line with our expectations and demonstrate continued progress in executing on our growth plans. This quarter, we opened seven new facilities, bringing our total to 90, and achieved substantial growth in both revenue and patient volumes. With our Dallas hospital open and all of our Dallas-Fort Worth area freestanding ERs able to accept all insurance as a result, we saw significant same store volume and revenue growth, reinforcing the need for greater access to emergency medical care. Earlier this month, Fortune Magazine recognized Adeptus Health as one of the Top 20 Best Workplaces in Health Care in AmericaWe are pleased with this acknowledgement as we continue to deliver the highest quality of care that has earned us the Press Ganey Guardian of Excellence Award in patient satisfaction for three consecutive years.”

 


The following information was filed by Adeptus Health Inc. on Wednesday, April 20, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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