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Adeptus Health Inc. (ADPT) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2016

Adeptus Health Inc.

CIK: 1602367

 

 

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Exhibit 99.1

 

 

ADPT News - For Immediate Release

 

 

 

 

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ADEPTUS HEALTH REPORTS THIRD QUARTER 2016 RESULTS

·

Net Loss of $11.7 Million, of which $8.1 Million was attributable to Adeptus Health, for Third Quarter

·

Net Operating Revenue Decreased 3% for Third Quarter

·

Systemwide Net Patient Service Revenue Increased 32% for Third Quarter

·

Adjusted EBITDA Decreased 48% for Third Quarter

·

Secures Additional Committed Financing Under Credit Facility and Investment Commitment of $27.5 Million of Non-Convertible Preferred Stock From Existing Investors

·

Reduces 2016 Adjusted EBITDA Guidance

 

Lewisville, Texas (November 1, 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 third quarter ended September 30, 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.

 

Third Quarter 2016 Highlights:

 

·

Net operating revenue was $85.4 million versus $88.2 million in prior year, a decrease of 3%;

 

·

Systemwide net patient services revenue was $143.4 million versus $109.0 million in prior year, an increase of 32%;

 

·

Adjusted EBITDA was $9.7 million versus $18.6 million in prior year, a decrease of 48%;

 

·

Net loss attributable to Adeptus Health Inc. was $8.1 million versus net income attributable to Adeptus Health Inc. of $0.7 million in prior year;

 

·

GAAP loss per share was $0.49 and Adjusted earnings per share was $0.06;

 

·

Cash flow used in operating activities was $21.3 million versus $4.0 million provided by operating activities in prior year;

 

·

Systemwide same store volumes increased 6.4% and systemwide same store revenue decreased 8.6% versus prior year; and

 

·

Opened hospital in Denver and five freestanding ERs. Subsequent to quarter end, the Houston hospital received accreditation from the Joint Commission and the Colorado Springs hospital began seeing patients during the training and certification phase.

 

Gregory W. Scott Appointed Chairman

 

In a separate press release issued today, Adeptus Health’s Board of Directors appointed Gregory W. Scott as the company’s Chairman.

 

 


The following information was filed by Adeptus Health Inc. on Tuesday, November 1, 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Shareholders' Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed 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 - Future Rental Income (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 - Insurance Finance Agreements (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (details)
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)
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 (loss) Income Per Share (details)
Net Income Per Share
Net Income Per Share (tables)
Organization
Organization (details)
Other Receivables And Current Assets
Other Receivables And Current Assets (details)
Other Receivables And Current Assets (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Stock Based Compensation
Stock Based Compensation (details)
Subsequent Events
Subsequent Events (details)
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-Q Quarterly Report
Accession Number: 0001558370-16-009847
Submitted to the SEC: Wed Nov 09 2016 4:55:42 PM EST
Accepted by the SEC: Wed Nov 09 2016
Period: Friday, September 30, 2016
Industry: Hospitals

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