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Nutex Health Inc. (NUTX-6.50%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Nutex Health's operations, which include 24 hospital facilities across 11 states and a population health management division. The company reported total revenue of $479.9 million for the year, a significant increase from $247.6 million in 2023. This growth was primarily driven by successful participation in arbitration through the Independent Dispute Resolution process under the No Surprises Act.
The hospital division generated $449.1 million in revenue, up from $218.1 million in 2023, due to increased patient visits and higher utilization of complex clinical services. The population health management division reported revenue of $30.9 million, attributed to capitation and management fees.
Nutex Health's operating income for 2024 was $130.6 million, compared to an operating loss of $31.8 million in 2023. The improvement was influenced by increased revenue and strategic actions taken to enhance collections.
The company reported a net income attributable to Nutex Health Inc. of $52.2 million for 2024, compared to a net loss of $45.8 million in 2023. Adjusted EBITDA for 2024 was $123.7 million, reflecting the company's improved financial performance.
Nutex Health's balance sheet as of December 31, 2024, showed total assets of $655.3 million, with cash and cash equivalents of $43.6 million. The company had total liabilities of $453.4 million, including long-term debt of $22.5 million.
The filing also discusses the company's growth strategy, which includes opening three new hospital facilities in 2025 and expanding its independent physician associations. Nutex Health plans to leverage its existing relationships and community presence to drive growth in new markets.
The company highlighted risks related to regulatory changes, particularly the No Surprises Act, which could impact reimbursement rates and financial performance. Nutex Health is actively engaging with third-party vendors and legislators to improve collections and contract negotiations.
Nutex Health identified material weaknesses in its internal control over financial reporting, related to logical access controls, financial reporting processes, and spreadsheet accuracy. The company is implementing remediation measures to address these issues.
The filing includes a discussion of recent divestitures, including the sale of Procare Health, Inc., and Clinigence Health, Inc., as part of Nutex Health's strategic focus on its core operations and profitability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nutex Health Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.