NUTX - Nutex stock soars 22% on operational updates growth plans

Nutex Health ( NASDAQ: NUTX ) reiterated that it expects to open 20 new facilities by the end of 2024, expanding in four new states, Florida, Wisconsin, Ohio and Idaho.

The company noted that it has formed two new independent practice associations (IPAs), one in Houston and the other in South Florida, and is working on contracting with primary care physicians and specialists.

Once this phase is completed, Nutex expects to contract with health insurance plans and start enrolling patients in 2023, the company said in an Oct. 10 press release.

Nutex expects to form one more IPA in 2022 in Phoenix, where it already operates two micro hospitals.

The company added that it is exploring building additional micro hospitals and expects to launch 1-3 additional IPAs per year around its existing micro hospitals.

Nutex noted that, as of Sept. 30, it had cash and cash equivalents of ~$35M, as per preliminary estimates.

"We have conviction in our strategy to drive alignment and integration of our technology-enabled care delivery model and continue to invest in our business. We believe our stock price should reflect these efforts over time," said Nutex President Warren Hosseinion.

The company had net revenue of $137.2M, for the six months ended June 30, as disclosed during Q2 results .

NUTX +21.54% premarket to $0.79 Oct. 10

For further details see: