PLANTATION, FL, Dec 15, 2021 /PRNewswire/ - Akumin Inc. (NASDAQ:
AKU) (TSX: AKU) ("Akumin" or the "Company") is pleased to announce
today its full-year 2022 financial guidance, following the
previously announced closing of the Alliance Healthcare Services,
Inc. ("Alliance") acquisition. The Alliance acquisition
closed on September 1, 2021, and
Consolidated Financial Results for the quarter ended September 30th, 2021, which includes
only one month of Alliance results, were released on December 13th, 2021.
Akumin currently expects that the financial results of the
combined company for 2022 will be as follows:
Summary Consolidated Financial Results (in thousands, except
for per share amounts)
|
Akumin Full-Year
2022 Guidance
|
Revenue
|
$760-780mm
|
Adjusted EBITDA
(1)
|
$155-170mm
|
Capex
(2)
|
$85mm
|
|
(1) See "Non-IFRS Measures"
below.
|
(2) Capex includes $59mm of growth
Capex vs $26mm maintenance capex..
|
Akumin is also pleased to announce that it has filed its
corporate presentation for the combined enterprise, and it is now
available on the company's website
https://akumin.com/investor-relations/reports/. The Company
looks forward to discussing the merits of the new Akumin platform,
and its future outlook, on the upcoming investor call, details of
which are below.
Unless otherwise indicated, all amounts are expressed in U.S.
dollars. Certain metrics are non-GAAP measures. See
"Non-GAAP Measures" of this press release for further
details. The Company's consolidated financial statements for
Q3 Fiscal 2021 and related management's discussion and analysis are
available in Akumin's public disclosure at www.sedar.com and
www.sec.gov.
Investor Presentation
Akumin would like to invite
interested parties to an investor presentation to be held on
Friday, December 17, 2021 from
8:00 a.m. to 9:00 a.m. Eastern Time
where management will discuss changes to the Company's business
resulting from the closing of the Alliance HealthCare Services
acquisition, as well as Q3 Fiscal 2021 results. To access the
conference call, dial toll-free in the U.S. or Canada 888-394-8218 or, for international
callers, 647-484-0475. A related presentation will be available
from Akumin's public disclosure at www.sedar.com or www.sec.gov and
also from Akumin's website (www.akumin.com) and at
https://akum.in/InvestorPresentation. Participants are asked to
connect at least 10 minutes prior to the beginning of the call to
ensure participation. The webcast archive will be available for 90
days. A replay of the presentation will also be available until
Friday, December 24, 2021 by calling
647-436-0148 or toll-free 1-888-203-1112, using passcode number
6766278.
About Akumin
Akumin is a national partner of choice for U.S. hospitals, health
systems and physician groups, with comprehensive solutions
addressing outsourced radiology and oncology service line needs.
With the acquisition of Alliance HealthCare Services, Akumin now
provides (1) fixed-site outpatient diagnostic imaging services
through a network of more than 200 owned and/or operated imaging
locations; and (2) outpatient radiology and oncology services and
solutions to approximately 1,000 hospitals and health systems
across 46 states. By combining clinical and operational expertise
with the latest advances in technology and information systems,
Akumin and its ~4,000 Team Members facilitate more efficient and
effective diagnosis and treatment for patients and their providers
in 46 states. Akumin's imaging procedures include MRI, CT, positron
emission tomography (PET and PET/CT), ultrasound, diagnostic
radiology (X-ray), mammography, and other interventional
procedures; our cancer care services include a full suite of
radiation therapy and related offerings. For more information,
visit www.akumin.com and www.alliancehealthcareservices-us.com.
Non-GAAP Measures
This press release refers to certain non-GAAP measures. These
non-GAAP measures are not recognized measures under United States generally accepted accounting
principles ("GAAP") and do not have a standardized meaning
prescribed by GAAP. There is unlikely to be comparable or
similar measures presented by other companies. Rather, these
non-GAAP measures are provided as additional information to
complement those GAAP measures by providing further understanding
of our results of operations from management's perspective.
Accordingly, these non-GAAP measures should not be considered in
isolation nor as a substitute for analysis of our financial
information reported under GAAP. We use non-GAAP financial
measures, such as "Adjusted EBITDA". These non-GAAP measures are
used to provide investors with supplemental measures of our
operating performance and thus highlight trends in our core
business that may not otherwise be apparent when relying solely on
GAAP measures. We believe the use of these non-GAAP measures, along
with GAAP financial measures, enhances the reader's understanding
of our operating results and is useful to us and to investors in
comparing performance with competitors, estimating enterprise
value, and making investment decisions. We also believe that
securities analysts, investors, and other interested parties
frequently use non-GAAP measures in the evaluation of issuers. Our
management uses non-GAAP measures to facilitate operating
performance comparisons from period to period, to prepare annual
operating budgets and forecasts and to determine components of
management compensation. Definitions and reconciliations of
non-GAAP measures to the relevant reported measures can be found in
our Management's Discussion and Analysis dated December 13, 2021 available in our public
disclosure at www.sedar.com and www.sec.gov.
Forward-Looking Information
Certain information in this press release constitutes
forward-looking information or forward-looking statements. In
some cases, but not necessarily in all cases, such statements or
information can be identified by the use of forward-looking
terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events. In particular, this
press release contains forward-looking information and statements
regarding expected revenue, Adjusted EBITDA, and Capex.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by Akumin as of the date of this press release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to the factors described in greater detail in the
"Risk Factors" section of our management's discussion and analysis
for the quarter ended September 30,
2021 dated December 13, 2021,
which is available at www.sedar.com and www.sec.gov. These factors
are not intended to represent a complete list of the factors that
could affect Akumin; however, these factors should be considered
carefully. There can be no assurance that such estimates and
assumptions will prove to be correct. The forward-looking
statements contained in this press release are made as of the date
of this press release, and Akumin expressly disclaims any
obligation to update or alter statements containing any
forward-looking information, or the factors or assumptions
underlying them, whether as a result of new information, future
events or otherwise, except as required by law.
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SOURCE Akumin Inc.