In the second quarter, Nobilis Helath reported a 13.5 percent decrease in revenue due to discontinuing their lab testing ancillary. Going forward, the company is focused on increasing in-network revenue as well as expanding and diversifying its platform.
Here are three key quotes from Nobilis CEO Harry Fleming and Chief Strategy Officer and President of Concertis Marissa Arreola during the second quarter conference call, as transcribed by Seeking Alpha:
HF on goals for 2018: "In addition to driving improved profitability throughout the company, management has had three primary goals for the company in 2018. We have to continue growing Nobilis' in-network revenues; continue expanding Nobilis' continuum of care; and to diversify the strength in Nobilis' revenue platform."
HF on future M&A: "While our first priority is to focus on managing existing business for performance, we continue to pursue various M&A opportunities, given that they meet certain criteria, such as providing additional in-network revenues and that the operation must be already profitable."
MA on in-network revenues: "Our desire to add to our in-network revenues continues to be a significant focus of our joint venture acquisition and contract negotiation strategy. We expect to announce additional sources of in-network revenue in Q3, 2018."