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Viemed Healthcare Announces Share Repurchase Program
Globenewswire· 2025-06-09 12:00
LAFAYETTE, La., June 09, 2025 (GLOBE NEWSWIRE) -- Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD), a national leader of in-home, technology-enabled post-acute respiratory care, today announced that its Board of Directors has authorized a share repurchase program, effective through June 2026. Under the share repurchase program, Viemed may purchase up to 1,976,441 common shares of the Company (“the Common Shares”) from time to time in accordance with applicable securities laws, representing a ...
Aveanna Healthcare Holdings Completes Acquisition of Thrive Skilled Pediatric Care
Globenewswire· 2025-06-04 11:30
Core Viewpoint - Aveanna Healthcare Holdings Inc. has completed the acquisition of Thrive Skilled Pediatric Care, enhancing its position in the pediatric home care market and expanding its service offerings into new states [1][2][3]. Company Overview - Aveanna Healthcare is a diversified home care platform providing services to medically complex, high-cost patient populations, with a presence in 36 states [7]. - The company offers a wide range of healthcare services, including nursing, rehabilitation, therapy, and case management, aimed at providing high-quality, lower-cost alternatives to prolonged hospitalization [7]. Acquisition Details - Thrive SPC is one of the largest independent providers of pediatric home care, operating 23 locations across seven states [2]. - The acquisition is expected to create significant growth opportunities for Aveanna, reinforcing its commitment to clinical excellence and compassionate care [3]. - The deal was financed through a combination of common stock and cash [3]. Strategic Implications - The integration of Thrive SPC is anticipated to enhance Aveanna's existing footprint and introduce its specialized care model into two new states [2][3]. - The acquisition aligns with Aveanna's strategic mission to lead in delivering high-quality care while providing value and clinical innovation to payors and stakeholders [3]. Advisory and Legal Support - Edge Healthcare Partners acted as the financial advisor for Aveanna, while Cantor Fitzgerald & Co. served as the financial advisor for Thrive SPC [4]. - Legal counsel for Aveanna was provided by Bass, Berry & Sims, and Ropes & Gray LLP represented Thrive SPC [4].
Resmed Champions Sleep Health as The Official Sleep Partner of The Qatar Airways British & Irish Lions Tour to Australia 2025
GlobeNewswire News Room· 2025-05-15 13:00
Core Insights - Resmed has been named the Official Sleep Partner of the Qatar Airways British & Irish Lions Tour to Australia, highlighting its commitment to promoting sleep health in sports [1][3][6] Company Overview - Resmed is a leading health technology company focused on sleep, breathing, and home care, aiming to empower individuals to live healthier lives through innovative technologies [1][13] - The company operates in 140 countries and emphasizes the importance of quality sleep as a critical component of overall health [13] Campaign Details - The 'Tackle Your Sleep' campaign will feature legendary rugby players and aims to raise awareness about sleep health issues affecting both players and fans [3][5] - The campaign will provide advice and tools to improve sleep quality, emphasizing its significance alongside exercise and diet [3][5] Health Implications - Poor sleep can negatively impact mental and physical health, relationships, and daily performance, particularly for athletes [4][5] - A study indicated that half of the rugby and cricket players surveyed were classified as poor sleepers, with many experiencing significant daytime fatigue [4][5] Tour Information - The British & Irish Lions Tour will take place over six weeks, featuring matches in six cities across Australia, with an estimated 40,000 fans participating [2][8] - The Lions will play a total of 10 matches, including three Test matches against the Wallabies [8]
Rhythm Pharmaceuticals (RYTM) 2025 Conference Transcript
2025-05-14 17:20
Summary of Addus Home Care Conference Call Company Overview - **Company**: Addus Home Care - **Industry**: Personal Care Services in the U.S. Key Points and Arguments Medicaid Changes and Impact - The company does not foresee any material changes from proposed Medicaid changes, particularly regarding work requirements for individuals under 64 years old, as their primary consumer base is elderly, averaging 70 years old [3][4][9] - The proposed work requirements could potentially benefit the company by providing a pool of younger caregivers who may need flexible work hours [5][6][7] - The company believes that maintaining low-cost home care services is essential, as it is cheaper for states compared to institutional care [8][9] Gentiva Acquisition and Integration - The integration of Gentiva is progressing well, with anticipated bottom-line performance aligning with expectations, although top-line growth has been slightly impacted by weather events in Texas [17][18] - The company is focusing on moving Gentiva to the Home Care Homebase system, which is expected to take 12 to 18 months [19] - Leadership stability has been maintained post-acquisition, with no turnover in key positions [21] Growth Opportunities in Texas - There are plans to expand home health services in Texas, with a focus on personal care and hospice services [22][24] - The company is actively seeking to build clinical capabilities and fill gaps in personal care services in Texas [22][24] Value-Based Care Strategy - The company is working on formalizing relationships with payers to enhance value-based care contracts, focusing on building volume and relationships rather than immediate financial gains [29][30][31] - The approach to value-based care is centered on personal care, utilizing analytics to identify clients who may benefit from additional services [26][27] Financial Performance and Projections - The company expects to continue pursuing M&A opportunities, with a target of adding $75 million to $100 million annually, depending on market conditions [39][40] - Personal care sales have declined, but hours worked have increased by 2% year-over-year, indicating improved service delivery [41][42] - The company anticipates census growth by the end of the year, driven by improved service and technology adoption [44] Technology Adoption - A new application has been rolled out in Illinois, showing positive adoption rates among caregivers, with plans for further rollout in New Mexico [46][47] - The application allows caregivers to manage their schedules and availability more effectively, enhancing service delivery [48][49] Labor Market and Wage Pressure - Hiring in personal care is on track, with manageable wage pressures primarily in smaller markets [51][52] - Clinical hiring remains challenging, but the company is not constrained in growth due to hiring issues [53] Home Health and Hospice Growth - The hospice segment is expected to grow at a rate of 5% to 7%, with Q1 performance exceeding expectations [66][67] - The company is optimistic about the recovery of hospice services post-COVID, with favorable demographics supporting growth [67][68] Cash Flow and Capital Deployment - The company expects strong cash flow, with a conversion rate of 75% to 80% of GAAP EBITDA to cash [70] - Plans include paying down debt and pursuing M&A opportunities as they arise [71] Additional Important Insights - The company is monitoring potential impacts from immigration policies on its workforce, but currently sees no material effects [14][15] - The company is cautious about the home health reimbursement environment, awaiting potential changes from the government [58][60][61] - The mix of Medicare contracts remains stable, with ongoing discussions for case rate contracts with larger payers [63][65]
Aveanna Healthcare(AVAH) - 2025 Q1 - Earnings Call Transcript
2025-05-08 15:00
Financial Data and Key Metrics Changes - Revenue for Q1 2025 was approximately $559 million, representing a 14% increase over the prior year period [5][19] - Adjusted EBITDA for Q1 was $67.4 million, reflecting a 93.1% increase year-over-year, primarily due to improved pay rates and cost-saving initiatives [5][19] - Consolidated gross margin was $183.6 million, or 32.8% [19] Business Line Data and Key Metrics Changes - Private Duty Services (PDS) revenue was approximately $460 million, a 16.5% increase, driven by 10.9 million hours of care, a volume increase of 6.1% [19][20] - Home Health and Hospice revenue was approximately $56.7 million, a 3.9% increase, with 77% of admissions being episodic [21][22] - Medical Solutions revenue was $42.5 million, a 3.6% increase, with revenue per unique patient served at approximately $477, up 6.9% [23][24] Market Data and Key Metrics Changes - Preferred payer agreements accounted for approximately 54% of total PDS Managed Care Organization (MCO) volumes, up from 50% in the previous quarter [11] - The episodic mix for home health was 77%, with total episodic volume growth essentially flat compared to the prior year [12][22] Company Strategy and Development Direction - The company is focusing on five primary strategic initiatives: enhancing partnerships with government and preferred payers, identifying cost efficiencies, modernizing the medical solutions business, managing capital structure, and engaging employees [15] - The company anticipates 2025 revenue to exceed $2.15 billion and adjusted EBITDA to exceed $207 million, reflecting an improved outlook [16][28] - The acquisition of ThriveSkilled Pediatrics is expected to enhance the company's preferred payer and government affairs strategies [17][56] Management's Comments on Operating Environment and Future Outlook - Management noted that the labor environment remains a primary challenge but expressed optimism about the demand for home and community-based care [6][14] - The company is encouraged by recent rate increases and preferred payer agreements, which support recruitment efforts and caregiver wages [14][25] - Management highlighted the importance of aligning clinical capacity with preferred payers to achieve normalized growth rates across all business segments [7][12] Other Important Information - The company achieved five rate enhancements for the PDS segment in Q1 and aims to increase preferred payer agreements from 22 to 30 by the end of 2025 [10][11] - Liquidity at the end of Q1 was approximately $266 million, providing room for operational investments [26] Q&A Session Summary Question: Update on targeted states for rate increases and preferred payers - Management reported five government affairs rate increases and two preferred payer wins in Q1, with expectations to achieve ten GA rate increases by year-end [30][31] Question: Insights on operating cash flow and EBITDA conversion - Management expressed confidence in generating operating cash flow and free cash flow in 2025, with Q1 cash outflow better than anticipated [35] Question: Details on one-time EBITDA benefits - Management identified strong cash collections and retro rate increases as key contributors to the $11 million EBITDA benefit in Q1 [40][41] Question: Contribution of Thrive acquisition to revenue and earnings - Management indicated that the Thrive acquisition aligns well with the company's culture and strategy, but it has not yet been included in guidance due to timing [56][59] Question: Updates on Medicaid policy and advocacy efforts - Management noted positive bipartisan support for Medicaid program integrity and ongoing dialogue with federal counterparts [62][64] Question: Size of rate enhancements and outlook for wage increases - Management clarified that the five rate enhancements were beneficial but expected future GA rate wins to be more modest, with a focus on passing through wage increases to caregivers [67][70]
Aveanna Healthcare Holdings Announces First Quarter Financial Results and Revised 2025 Outlook
Globenewswire· 2025-05-08 10:30
Core Insights - Aveanna Healthcare Holdings Inc. reported strong financial results for Q1 2025, with revenue growth of 14.0% and adjusted EBITDA growth of 93.1% compared to the same period last year [2][8][10] - The company is optimistic about its strategic transformation and has raised its full-year 2025 revenue guidance to over $2.15 billion and adjusted EBITDA guidance to over $207 million [10][11] Financial Performance - Revenue for the three-month period ended March 29, 2025, was $559.2 million, up from $490.7 million for the same period in 2024, representing an increase of $68.6 million [3][30] - Gross margin increased to $183.6 million, or 32.8% of revenue, compared to $145.9 million, or 29.7% of revenue, for the prior year, marking a 25.9% increase [4][30] - Net income for the quarter was $5.2 million, a significant turnaround from a net loss of $11.2 million in the same quarter of 2024 [5][31] - Adjusted EBITDA reached $67.4 million, or 12.0% of revenue, compared to $34.9 million, or 7.1% of revenue, for the same period last year, reflecting a 93.1% increase [6][30] Segment Performance - The PDS segment saw a revenue increase of $65.0 million, while the HHH and MS segments contributed $2.1 million and $1.5 million increases, respectively [3][30] - The Field contribution margin improved to 16.5% from 11.8% year-over-year, indicating enhanced operational efficiency [30][34] Cash Flow and Liquidity - As of March 29, 2025, the company had cash of $71.5 million and an incremental borrowing capacity of $56.2 million under its securitization facility [9][29] - Free cash flow for the quarter was $(12.9) million, reflecting cash used in operating activities of $(8.6) million [9][24] Strategic Outlook - The company emphasizes the importance of government and payor partnerships in driving core volume growth and clinical outcomes [2][10] - Aveanna's management is confident in the company's trajectory, citing strategic cost reductions and improved reimbursement rates as key drivers of performance [10][11]
Addus(ADUS) - 2025 Q1 - Earnings Call Transcript
2025-05-06 13:00
Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $337.7 million, a 20.3% increase from $280.7 million in Q1 2024 [6] - Adjusted earnings per share rose to $1.42, up 17.4% from $1.21 in Q1 2024 [6] - Adjusted EBITDA increased to $40.6 million, a 25.1% rise from $32.4 million in Q1 2024 [6] - Gross margin percentage improved to 31.9% from 31.4% in Q1 2024 [21] - Adjusted EBITDA margin was 12%, compared to 11.6% in Q1 2024 [22] Business Line Data and Key Metrics Changes - Personal Care segment revenues were $258.3 million, accounting for 76.5% of total revenue, with a same-store revenue growth of 7.4% [20] - Hospice segment revenues were $61.4 million, representing 18.2% of total revenue, with same-store revenue growth of 9.9% [20] - Home Health segment revenues were $18 million, making up 5.3% of total revenue, with a same-store revenue growth of 1.3% [20] Market Data and Key Metrics Changes - Personal Care hiring reached 79 hires per day, an increase from the previous year [7] - Average daily census for hospice increased to 3,515, up 4.6% from 3,359 in Q1 2024 [11] - Same-store hours for Personal Care increased by 2% compared to Q1 2024 [10] Company Strategy and Development Direction - The company aims for a minimum annual revenue growth of 10%, focusing on acquisitions that complement organic growth [13] - The strategy includes expanding personal care services in Texas and evaluating smaller acquisition opportunities [14] - The company is committed to maintaining a conservative approach to valuation and due diligence in acquisitions [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued demand for home-based care services, which are seen as cost-effective and safe [15] - The company anticipates stable gross margins and consistent cash flow conversion for the full year 2025 [22][24] - Management noted that the clinical hiring environment remains challenging but is improving overall [8][66] Other Important Information - The company utilized approximately $2.5 million in ARPA funding during Q1 2025, with $8.8 million remaining [25] - As of March 31, 2025, the company had cash on hand of approximately $97 million and reduced bank debt by $20 million [6][25] Q&A Session Summary Question: Commentary on hospice cap limitations - Management indicated that cap limitations have not been material, emphasizing a balanced referral mix [28][30] Question: Growth expectations for personal care services - Management acknowledged weather-related impacts in January but expects growth in hours to remain in the 2% to 2.5% range [38] Question: Hospice revenue growth expectations - Management anticipates hospice revenue growth in the 5% to 7% range, likely at the higher end [40] Question: Margin expansion expectations - Management expects 40 to 50 basis points of margin expansion from Q1 to Q2, consistent with historical patterns [46] Question: Impact of ACA expansion rollback - Management stated that potential changes to ACA expansion would likely have no direct impact on the company [50][52] Question: Same-store revenue growth components - Management attributed strong same-store revenue growth to improved scheduling and caregiver assignment practices [56] Question: Industry-wide workforce retention improvements - Management noted improvements in workforce retention across the industry, particularly in personal care [66] Question: Updates on Gentiva's performance - Management reported that Gentiva's bottom line performance has exceeded expectations, while top-line growth has been slightly lighter [76] Question: State budget and rate increase outlook - Management expressed confidence in state budgets and is closely monitoring potential rate increases, particularly in Texas [79]
Addus HomeCare (ADUS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
ZACKS· 2025-05-06 00:31
Core Insights - Addus HomeCare (ADUS) reported revenue of $337.71 million for the quarter ended March 2025, reflecting a year-over-year increase of 20.3% [1] - The earnings per share (EPS) for the quarter was $1.42, up from $1.21 in the same quarter last year, with an EPS surprise of +6.77% compared to the consensus estimate of $1.33 [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $340.01 million, resulting in a revenue surprise of -0.68% [1] Revenue Breakdown - Personal care revenue was $258.29 million, which is a 24.2% increase year-over-year, but below the average estimate of $261.89 million [4] - Home Health revenue reached $17.99 million, exceeding the average estimate of $17.66 million, with a year-over-year growth of 6.6% [4] - Hospice revenue amounted to $61.44 million, surpassing the average estimate of $59.79 million, and showing a year-over-year increase of 10% [4] Stock Performance - Over the past month, Addus HomeCare shares have returned +4.7%, outperforming the Zacks S&P 500 composite, which saw a +0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]
Extendicare Announces Agreement to Acquire Closing the Gap Healthcare Group
Globenewswire· 2025-05-01 12:30
Core Viewpoint - Extendicare Inc. announced the acquisition of Closing the Gap Healthcare Group Inc. by its subsidiary ParaMed Inc. for approximately $75.5 million, enhancing its home health care services in Ontario and Nova Scotia [1][3][4]. Transaction Details - The acquisition is structured on a debt-free, cash-free basis, with an earnout tied to new business revenue generation expected in the first year post-closing [3][8]. - The transaction is subject to customary closing conditions and is anticipated to close in the third quarter of 2025 [2]. Company Background - Closing the Gap has been a leader in home and community healthcare for 35 years, providing a range of services including personal support, nursing, physiotherapy, and social work [5][4]. - In 2024, Closing the Gap delivered over 1.1 million service hours through approximately 1,200 caregivers [5]. Financial Impact - The acquisition is projected to add approximately $84.2 million in revenue to Extendicare's home health care segment for 2024, with similar margins to ParaMed [6]. - The combined service volumes for the home health care segment would reach approximately 12.1 million hours with an average daily volume of 33,164 [7]. - The earnout from the transaction is estimated to be between $3.5 million and $5.5 million, contributing an additional $7.0 to $11.0 million in revenue [8]. Synergies and Growth Potential - The integration of back-office functions is expected to generate approximately $1.1 million in annualized cost synergies in the first year following the closing [8]. - The acquisition is seen as a strategic move to enhance Extendicare's capabilities and market presence in the home health care sector [4].
Aveanna Healthcare Holdings Announces Agreement to Acquire Thrive Skilled Pediatric Care
GlobeNewswire News Room· 2025-04-03 11:30
ATLANTA, April 03, 2025 (GLOBE NEWSWIRE) -- Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH), a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations, today announced that it has entered into an agreement to acquire Thrive Skilled Pediatric Care ("Thrive SPC"). The transaction is expected to close in the second fiscal quarter of 2025, subject to customary regulatory approvals. Thrive SPC is one of the largest independent providers of pediatric h ...