Accretive Health, Inc.OTCPK - Current
Wed, Nov. 2, 4:47 PM
Thu, Aug. 4, 5:01 PM
Tue, May 10, 4:50 PM
- Accretive Health (OTCPK:ACHI): Q1 EPS of $0.85 beats by $0.84.
- Revenue of $352.19M (+3110.5% Y/Y)
Mon, Apr. 25, 5:34 PM
- With the aim of better aligning the organization for growth, Accretive Health (OTCPK:ACHI) announces the following executive changes:
- COO Joseph Flanagan appointed President & COO.
- Christopher Ricaurte, SVP, Revenue Cycle Operations, appointed Chief Financial Officer and Treasurer succeeding Peter Csapo.
Thu, Mar. 10, 4:41 PM
- Accretive Health (OTCPK:ACHI): Q4 EPS of $0.06 misses by $0.07.
- Revenue of $68.3M (+43.9% Y/Y) misses by $3.32M.
Dec. 8, 2015, 10:45 AM
- Accretive Health (OTCPK:ACHI +40%) and Ascension, the largest Catholic and non-profit health system in the U.S., ink a new 10-year deal under which Accretive will be its exclusive revenue cycle provider. The agreement includes an amended and restated Master Professional Services Agreement (MPSA) to cover all of Ascension's net patient revenue (NPR). Ascension will transition more than $8B in new NPR to Accretive over the next several years, representing an increase of ~47% over its existing NPR base under management. The transition will commence in mid-2016. It will also transition all physician advisory services (PAS) to Accretive.
- In addition, a newly formed investment vehicle owned by Ascension and TowerBrook Capital Partners will invest $200M in Accretive via the purchase of convertible preferred stock that is convertible into common shares at $2.50 per share, including the receipt of warrants. Each share of preferred pays an 8% annual dividend in stock for the first seven years and in cash thereafter. Accretive will issue 10-year warrants to the investment vehicle to purchase up to 60M shares of common stock at $3.50. Net proceeds will fund Accretive's infrastructure investments and growth initiatives.
- The deal should close in Q1.
Jul. 24, 2015, 8:41 AM
Jun. 23, 2015, 5:32 PM
- Accretive Health (OTCPK:ACHI) filed its 2014 financials today and updated investors on its outlook for this year as well as Q1.
- It expects to generate gross cash from customer contracting of $230M - 240M in 2015. Net cash will be at the lower end of $30M - 40M.
- On a GAAP basis, Q1 2015 net loss should be $29M - 31M on net services revenue of $9M - 11M. On a non-GAAP basis, the company forecasts gross Q1 cash from customer contracting of $53M - 55M, net cash of $1M - 3M and an EBITDA loss of $41M - 43M. The 10-Q for Q1 will be filed in July.
- The company's PAS (Physician Advisory Services) business continues to deal with headwinds from the Two-Midnight Rule, a regulatory change instituted by the Centers for Medicare and Medicaid Services (CMS) which stipulates that a patient must spend two nights in the hospital to be considered an inpatient. Previously, hospitals and physicians had considerable discretion on whether a patient was considered an inpatient or outpatient.
Jul. 10, 2014, 8:19 AM
- Accretive Health (ACHI) appoints Emad Rizk, M.D., President and CEO effective July 21, 2014. Dr. Rizk joins the company from McKesson Health Solutions where he served as President.
Mar. 12, 2014, 9:34 AM
- Accretive Health (AH) is facing delistment from the NYSE before markets open on Monday after saying that it expects to miss a March 19 deadline to file restated financial reports.
- In March last year, Accretive Health's audit committee ordered the company to restate results due to errors related to the timing of revenue recognition.
- While Accretive Health works on its earnings, it will trade over the counter.
- Shares are -12.1% premarket. (PR)
Dec. 31, 2013, 3:27 PM
- "The continued removal of litigation overhangs is a positive," Baird notes, referencing Accretive Health's (AH +1.8%) settlement of an FTC investigation tied to the security of patient information.
- The company has also learned the regulator won't pursue enforcement action related to AH's ER debt collection activities.
- Nevertheless, analyst Eric Coldwell is staying on the sidelines with a Neutral rating.
- Although "sentiment is due for gradual improvement ... we see no need to rush in," Baird says, adding that "there are a lack of catalysts between here and March."
- Price target is $10.
Nov. 13, 2013, 5:41 PM
Nov. 13, 2013, 4:56 PM
- Accretive Health (AH) -4% AH after updating the status of its ongoing restatement of financial results.
- Net patient revenue under management declined between the end of 2011 and the end of Q3 2013, driven by client losses in 2012 and early 2013, and results also were hurt by operational and financial performance at one of the company's newer clients that were significantly below expectations in Q4 2012 but are rebounding in 2013.
- Also, AH appoints two new board members and authorizes a $50M share repurchase program.
Aug. 27, 2013, 11:21 AM
- Accretive Health (AH -4%) slips after being downgraded to Perform by Oppenheimer.
- Price target information was not available.
- Yesterday, the company announced a shift in its financial leadership, appointing Sean Orr as its new chief financial officer and treasurer, replacing its current CFO, John Staton.
Aug. 26, 2013, 2:34 PM
- Accretive Health (AH -0.1%) appoints Sean Orr as its new chief financial officer and treasurer.
- Orr succeeds John Staton, who has taken the unique position of senior Vice President, Provider Business Solutions.
Aug. 26, 2013, 10:04 AM
- Accretive Health (AH -0.4%) eases John Staton out of the roles of CFO and Treasurer after eight years in the jobs and replaces him with Sean Orr, who's served as finance chief at The Interpublic Group.
- Staton will become senior VP of provider business solutions.
- The move comes after Accretive Health last week filed to delay its 10-Q for Q2, saying it will restate its financial statements. The company concluded that the timing of revenue recognition under certain managed service contracts was incorrect. (PR)