BrightSpring Health Services, Inc. Stock Price, News & Analysis

BrightSpring Health Services (NASDAQ: BTSG), a leader in home and community-based health services, announced multiple accreditations recognizing its quality care. The company now holds over 900 accreditations. Rehab Without Walls received a three-year accreditation from the Commission on Accreditation of Rehabilitations Facilities (CARF). The CARF report highlighted leadership accessibility, employee tenure, strong community programs, and collaboration with local colleges. Additionally, BrightSpring earned CARF accreditations in Community Living services in Michigan and Tennessee, recognizing client satisfaction and employee commitment. In November 2023, SpringHealth Behavioral Health received a three-year accreditation from the Behavioral Health Center of Excellence.

BrightSpring Health Services (NASDAQ: BTSG) has announced it will release its second quarter 2024 financial results on August 2, 2024. The report will be made available before the company's earnings conference call scheduled for 8:30 a.m. ET on the same day. Investors and interested parties can register to participate in the call and access a live and archived webcast on the company's investor relations website. Presentation materials will be posted on the site prior to the call.

BrightSpring Health Services (NASDAQ: BTSG) has announced a definitive agreement to acquire the assets of Haven Hospice in Florida for $60 million. Haven holds a Certificate of Need for comprehensive hospice care in 18 counties. This acquisition allows BrightSpring to expand its hospice services into Florida, an important yet challenging market to enter. The deal includes $15 million in cash, $30 million in Company equity, and $15 million in a seller note payable in four years. The acquisition is set to close in Q3 2024.

BrightSpring Health Services (NASDAQ: BTSG), a leading provider of home and community-based health services, has awarded scholarships to five Louisville students. The 2024 Brighter Futures Scholarship was given to Layah Hodges, while the Hospice Nursing Scholarship was awarded to Morgan Harper, Chasta May, Samyah Edwards, and Onileola Ilesanmi. The Brighter Futures Scholarship offers $10,000 annually, renewable for up to four years, totaling $40,000. The Hospice Nursing Scholarship provides $5,000 per year for up to two years, totaling $10,000. These scholarships are part of BrightSpring's commitment to support under-reached students pursuing healthcare careers.

BrightSpring Health Services (NASDAQ: BTSG) has completed its $100 million equity grant to approximately 20,000 of its full-time and tenured employees. This initiative, announced during the company's IPO on January 26, was designed to recognize and reward the hard work of its staff. Employees eligible for the grant are those who work 32+ hours per week with a one-year lookback and those with at least one year of continuous service by March 31, 2024. According to President and CEO Jon Rousseau, this grant aims to foster an ownership culture and incentivize more healthcare professionals to join BrightSpring.

BrightSpring Health Services (NASDAQ: BTSG) announced its participation in three significant investor conferences. The company will engage in fireside chats at:

- The 2024 Leerink Partners Healthcare Crossroads Conference on May 30th at 8:40 AM CT.

- The Jefferies Global Healthcare Conference on June 6th at 9 AM ET.

- The Goldman Sachs 45th Annual Global Healthcare Conference on June 10th at 11:20 AM ET.

Live and archived webcasts of these events will be accessible through the BrightSpring investor relations website.

BrightSpring Health Services (NASDAQ: BTSG) announced several recent acquisitions aimed at enhancing its geographic reach and expanding its service lines. Key acquisitions include a home-based primary care group in Arkansas, an institutional special needs health plan in Kentucky and Tennessee, and a home and community pharmacy in Texas. These acquisitions, effective from May 1 and May 3, 2024, aim to strengthen BrightSpring's medical and pharmacy services for complex populations in various settings from home health to long-term care. CEO Jon Rousseau highlighted the company's strategy to integrate service lines and deliver high-quality care directly to where people reside.

BrightSpring Health Services (NASDAQ: BTSG) announced that its subsidiary, Onco360®, has been selected as the national pharmacy partner for OJEMDA™, a newly FDA-approved treatment for pediatric low-grade glioma (LGG) with BRAF mutations. This partnership with Day One Biopharmaceuticals aims to provide this cutting-edge, once-weekly oral medication to children aged six months and older who have relapsed or refractory LGG. The approval is based on the FIREFLY-1 clinical trial, and ongoing confirmatory trials are required for continued approval. Onco360® offers specialized oncology medications and support services, including financial assistance, clinical counseling, and insurance verification.

BrightSpring Health Services, Inc. reported strong financial results for Q1 2024, with net revenue of $2,577 million, a 27.0% increase from Q1 2023. The company's Adjusted EBITDA was $131 million, up 13.2% year-over-year. BrightSpring appointed Timothy Wicks to the Board of Directors and increased its 2024 revenue and Adjusted EBITDA guidance. The company is optimistic about its outlook for the year, citing growth in both Pharmacy and Provider segments.