Hygea Holdings Corp. Reports 2014 Unaudited Financial Results
Hygea Holdings Corp announced its 2014 unaudited financial results which included an increase in revenue and a run rate of more than $80 million.
- Miami, FL (1888PressRelease) March 14, 2015 - Hygea Holdings Corp., a healthcare holding company that owns and operates integrated medical group practices and independent provider networks, today announced its 2014 unaudited results that included year-over-year revenue growth and a run rate that exceeded $80 million.
• Year-Over-Year Revenue Increases of 59%
• Q4 Results Produce Run Rate of $80M
• EBITDA Year-Over-Year Growth Hits 10%
According to Hygea Holding Corp.'s unaudited report for the Fiscal Year (FY) 2014, revenue totaled over $33 million, an increase of $18.9 million, or 59%, over FY 2013. The firm noted that at the end of Q4 2014, when annualized and adjusted for seasonality, Hygea produced a run rate in excess of $80 million. In addition, Hygea's EBITDA was again in excess of 10%.
"Hygea is in an accelerated growth phase as it acquires physician practices and other strategic healthcare organizations that support and complement its ability to deliver integrated care," said Manuel Iglesias, president and chief executive officer of Hygea Holdings Corp. "We anticipate more growth and prosperity for Hygea in future months."
Iglesias said Hygea's expected revenue growth in 2015 is a result of planned acquisitions of practices in Florida, Georgia, New York and New Jersey. The company intends to acquire a large number of physician practices over the next three quarters.
The audited 2014 financial report will be completed by April 30, by Goldstein Schechter Koch, the company's new auditing firm.
About Hygea Holdings Corp.
Hygea is a diversified healthcare holding company led by a team of nationally recognized industry leaders with backgrounds in insurance, finance, medicine, and technology. The company owns physician practices, ancillary medical services, such as pharmacy, physical therapy, and diagnostics, as well as a 1,700-doctor independent physician association (IPA). Hygea prides itself as 'the physician's choice' in group healthcare, as evidence by the number of acquired physicians who then choose to invest in the firm. Hygea's business model applies best practices at every stage of healthcare delivery to reduce inefficiencies and improve outcomes, providing seamless care to commercial, Medicare, and Medicaid patients. For more information, visit www.hygeaholdings.com.
Forward-looking statements
Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as "believe", "hope", "may", "anticipate", "should", "intend", "plan", "will", "expect", "estimate", "project", "positioned", "strategy" and similar expressions, and are based on assumptions and assessments made by Hygea's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof and are current only as of the date on which such statements were made. Hygea undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in Hygea's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled "Risk Factors", as well as any current reports on Form 8-K, as filed with the Securities and Exchange Commission.
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