Nutex Health Acquires PHA & MCIC To Boost Presence In Florida

Nutex Health Inc NUTX disclosed the acquisition of Population Health Associates, Inc. and Managed Care Insurance Consultants, Inc for an undisclosed amount.

The acquisitions will add about 112 primary care physicians and around 4,400 managed care patients to NUTX's existing 25,000 managed care patients and boost its presence in Florida.

The buyout creates synergies with South Florida Physicians IPA, NUTX's existing network of PCPs in South Florida, and enhances the proprietary cloud-based population health management technology platform. 

NUTX projects the deal to optimize medical cost ratios (MCRs) and drive improved patient health outcomes.

"Nutex expects to open 5-6 Florida micro-hospitals in Tampa, Miami, Orlando and Jacksonville by the end of 2025. We believe that our integrated healthcare delivery model of micro-hospitals surrounded by our own affiliated network of physicians, once operational, should translate into higher patient volumes for our hospitals while lowering the MCRs for our IPAs, making both the micro-hospitals and IPAs more profitable," stated Tom Vo, M.D., MBA, Chairman, and CEO.

As of June 30, 2023, cash and equivalents stood at $32.8 million.

Price Action: NUTX shares traded lower by 1.61% at $0.3060 on Tuesday.