SOURCE: Nobilis Health Corp.

Nobilis Health Corp.

July 30, 2015 06:00 ET

Nobilis Acquires Plano Hospital at Significant Discount; Sets Date for Financial Release and Guidance

HOUSTON, TX--(Marketwired - Jul 30, 2015) - Nobilis Health Corp. (NYSE MKT: HLTH) (TSX: NHC) ("Nobilis" or the "Company") today announced that the U.S. Bankruptcy Court for the Northern District of Texas, approved a Sale Order for the sale of assets of Victory Plano Hospital, LP ("Plano") for a total purchase price of approximately $5.8 million. The purchase price consisted of a cash payment of $1.3 million, the assumption of Plano's loan with Legacy Bank of approximately $4.5 million and the assumption of Plano's capital equipment leases and real estate lease. Nobilis also acquired all of Plano's inventory, supplies and equipment plus all of Plano's outstanding accounts receivable for surgical procedures performed in the twelve months prior to closing as well as certain proceeds related to Plano's settlement agreement with CIGNA, which Nobilis believes have an aggregate value of between $1.0 million and $3.0 million.

The final deal terms represent a significant savings for Nobilis as compared to the deal terms originally agreed upon this past May. The prior deal was valued, in the aggregate, at $12.5M, with assumed capital equipment leases of $5.5 million, assumed bank debt of $7.0 million and with no account receivables to be acquired. 

"As with our Scottsdale acquisition in early 2014, the Company's strategic maneuver to complete this acquisition in bankruptcy court was calculated to acquire the asset at a reduced price," said Harry Fleming, Nobilis' chairman.

"Plano represents an important acquisition for Nobilis, and we're happy to have completed it on terms more favorable to our shareholders," said Chris Lloyd, Nobilis' CEO. "This marks the realization of another milestone in our strategic plan and provides needed operational flexibility for the Dallas market. We are looking forward to updating our shareholders on this deal and providing updated guidance for fiscal 2015 and initial revenue and adjusted EBITDA guidance for 2016 and 2017," said Chris Lloyd, CEO of Nobilis Health.

Nobilis will host a conference call on Friday, August 14, 2015, at 10 a.m. CST to discuss its first quarter results. Details for participating in the conference call will be contained in a separate press release.

About Nobilis Health Corp.
Nobilis owns and manages ambulatory and acute care facilities to deliver healthcare services. Our focus is improving access to care and patient outcomes by providing minimally invasive procedures that can be performed in low-cost, outpatient settings. We utilize innovative direct-to-patient marketing and proprietary technologies to drive patient engagement and education. Nobilis owns and manages seven surgical facilities in Dallas, Houston, and Scottsdale and has contractual partnerships with six other facilities in Arizona, Oregon, Michigan, Minnesota, Tennessee and New Jersey.

Forward-looking statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) and financial outlooks relating to the business of Nobilis Health Corp. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions and may discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. These statements are based on the Company's expectations, estimates, forecasts and projections and while the Company considers these to be reasonable based on information currently available, they may prove to be incorrect. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at www.NobilisHealth.com, www.Sedar.com and in the risk factors described in the Company's Form 10-K for the fiscal year ended December 31, 2014, filed on April 2, 2015. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Other than as required by law, the Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.