Nobilis Health Announces the Acquisition of DeRosa Medical
Nobilis Health Corp. (NYSE American: HLTH) ("Nobilis" or the "Company") today announced the acquisition of DeRosa Medical, P.C. ("DeRosa Medical").
DeRosa Medical is a primary care practice that specializes in health and wellness, medically supervised weight loss, and chronic health condition management. DeRosa Medical has 10,000 active patients, and serves these patients with its nine primary care providers, comprised of physicians and nurse practitioners. The practice has three locations in the Phoenix, Arizona metropolitan area: Scottsdale, Chandler, and Glendale. These locations complement Nobilis' existing surgical facilities in North Phoenix, Chandler and Scottsdale. The acquisition of DeRosa Medical allows the Company to enhance its ability to serve patients across the continuum of care, from primary care needs to surgical procedures, utilizing its concierge care delivery model. The DeRosa Medical purchase price is $915,000 cash, which represents 3x adjusted EBITDA.
The DeRosa Medical acquisition represents the most recent addition to the Company's Concertis portfolio. "The DeRosa Acquisition brings the Arizona market into Concertis' clinically integrated network ("CIN"). Our CIN has already begun to contribute significantly to Nobilis' surgery patient flow in our Texas markets, and we look forward to achieving similar growth in Arizona," said Harry Fleming, Nobilis CEO. Concertis advances health care delivery through its CIN that is committed to improving patient care and reducing overall healthcare costs. Clinical integration coordinates care across a continuum of services including physicians, hospitals, and ancillary services. Concertis currently includes bundled payment surgical procedures provided in three states, primary care practice acquisitions, and the Company's 360Concierge care management IT solution. This portfolio of products coupled with the Company's facilities and ancillary services comprise the CIN. Controlling the entire patient experience from aligned primary care providers, to facilities, surgeries, and ancillary services improves patient outcomes while encouraging more efficient cost control for Nobilis, patients, and physicians.