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American Renal Associates Holdings, Inc. Announces First Quarter 2018 Results

BEVERLY, MA (May 8, 2018) - American Renal Associates Holdings, Inc. (NYSE: ARA) (the “Company”), a leading provider of outpatient dialysis services, today announced financial and operating results for the first quarter ended March 31, 2018.

Certain metrics, including those expressed on an adjusted basis, are Non-GAAP financial measures (See “Use of Non-GAAP Financial Measures” and the reconciliation tables further below).

First Quarter 2018 Highlights (all percentage changes compare Q1 2018 to Q1 2017 unless noted):

  • Net patient service operating revenues increased 10.0% to $194.7 million;
  • Net loss attributable to American Renal Associates Holdings, Inc. was $0.9 million as compared to a net loss of $1.3 million in Q1 2017;
  • Adjusted EBITDA less noncontrolling interests (“Adjusted EBITDA-NCI”) was $22.7 million as compared to $21.4 million in Q1 2017;
  • Adjusted net income attributable to American Renal Associates Holdings, Inc. was $3.8 million, or $0.11 per share, for Q1 2018;
  • Total dialysis treatments increased 5.2%, of which 4.2% was non-acquired growth. Normalized total growth treatment was 6.3% and normalized non-acquired growth was 5.3%; and
  • As of March 31, 2018, the Company operated 228 outpatient dialysis centers serving approximately 15,700 patients. 
Joseph (Joe) Carlucci, Chairman and Chief Executive Officer, said, “We are very pleased that the Company’s first quarter 2018 performance represented a return to year-over-year growth in terms of revenue, Adjusted EBITDA-NCI and Adjusted net income attributable to American Renal Associates Holdings, Inc. per share. We expect to continue to deliver growth in 2018, driven by a more sustainable cost structure, continued execution on our development program, treatment growth, and the new coverage policy for Calcimimetic pharmaceuticals. We are proud that our partnership model continues to be differentiated by strong quality metrics and outstanding patient satisfaction rates.”

Financial and operating highlights include:

Revenue: Patient service operating revenues for the first quarter of 2018 were $194.7 million, an increase of 10.0% as compared to $177.0 million for the prior-year period, primarily due to treatment growth and reimbursement of certain pharmaceuticals under the Medicare ESRD PPS Transitional Drug Add-on Payment Adjustment (TDAPA), which became effective January 1, 2018.

Treatment Volume: Total dialysis treatments for the first quarter of 2018 were 558,936, representing an increase of 5.2% over the first quarter of 2017. Non-acquired treatment growth was 4.2%, and acquired treatment growth was 1.0% for the first quarter of 2018. Normalized for clinic sales and the number of treatment days in the period, Q1
1

The following information was filed by American Renal Associates Holdings, Inc. (ARA) on Tuesday, May 8, 2018 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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