|Nobilis Health Corp. - NHC.t owns and manages ambulatory and acute care facilities to deliver healthcare services. |
Nobilis owns and manages seven surgical facilities in Dallas, Houston, and Scottsdale and has contractual partnerships with six other facilities in Arizona, Oregon, Michigan, Minnesota, Tennessee and New Jersey.
|On August 14, 2015 the company released Numbers|
Nobilis Health Corp. (NYSE MKT: HLTH) (TSX: NHC) ("Nobilis" or the "Company") today announced its financial results for the three and six months ended June 30, 2015. All dollar amounts are in United States currency unless otherwise stated; percentage calculations are based on the numbers in the financial statements and may not correspond to rounded figures presented in this release.
Chris Lloyd, Nobilis Health's CEO, said, "We are excited to announce that the Company's second quarter recorded total revenues were $48.9 million with an Adjusted EBITDA1 (net of NCI) of $7.1 million. This represents a significant improvement over the corresponding period in 2014, during which the Company's total revenues were $15.1 million, with an Adjusted EBITDA1 of $0.9 million.
While the Company historically realizes between 18.0 and 19.0% of its total annual revenue in the second quarter, our second quarter revenue of $48.9 million represents 24.0% of our original 2015 revenue guidance of $205.0 million, exceeding this historical trend. Year-to-date, our total revenues of $86.0 million represent 42.0% of our 2015 guidance and indicate strong progress toward our original guidance as, historically, the Company earns upwards of 60.0% of our revenues in the second half of the year.
Second Quarter Results
Total revenues for the three months ended June 30, 2015 totaled $48.9 million, an increase of $33.8 million or 223.8%, compared to $15.1 million from the prior corresponding 2014 period.
Total cases for the three months ended June 30, 2015 were 4,780, representing an increase of 3,134 cases or 190% from the 1,646 cases in the prior corresponding 2014 period. Revenue per case increased as a product of the procedure mix moving towards surgeries with higher reimbursements. Net loss attributable to Nobilis for the three months ended June 30, 2015 was $1.6 million compared with a net income of $0.2 million from the prior corresponding 2014 period.
The increase in total revenues resulted in Nobilis having an Adjusted EBITDA1 of $7.1 million, for the three months ended June 30, 2015 compared with $0.9 million from the prior corresponding 2014 period, representing an increase of 689.0%.
Six Months Results
Total revenues for the six months ended June 30, 2015 totaled $86.0 million, an increase of $58.8 million or 216%, compared to $27.2 million from the prior corresponding 2014 period.