The Oncology Institute reports developments in value-based community oncology care, combining oncology and hematology services with specialty pharmacy, patient services, clinical trials, transfusions, and related care models. Its updates center on operating results, specialty pharmacy volume, gross profit and cash flow trends, and the performance of capitated and Medicare Advantage payor relationships.
Company news also covers participation in CMS oncology payment models, contract expansion across community oncology markets, clinical pathway and provider engagement initiatives, investor conference appearances, and governance or compliance leadership changes. The business operates through Specialty Pharmacy, Patient Services, and Clinical Trials and Other segments.
TOI Expands into South Florida
The Oncology Institute (NASDAQ: TOI) has announced its entry into Miami-Dade County by acquiring Hematology/Oncology Associates of Miami. This expansion is part of TOI's strategy to enhance value-based cancer care in Florida. Dr. Roberto Ochoa has been appointed as the Senior Medical Director for the state, emphasizing a commitment to quality care for patients. The South Miami Clinic will continue operations during renovations, with additional locations planned for 2023. TOI aims to serve approximately 1.7 million patients, bolstered by a growing team of over 90 clinicians.
The Oncology Institute (NASDAQ: TOI) reported Q3 2022 financial results, showing a 24.3% revenue growth to $65 million compared to the prior year. Despite this growth, the net loss decreased slightly to $2.7 million. The company expanded its reach with acquisitions and new clinics, increasing clinician count by 27%. A strategic $110 million investment from Deerfield Management was completed to support growth. However, TOI updated its guidance for 2022, expecting revenue between $245 million and $250 million, lower than previous estimates due to acquisition delays.
The Oncology Institute, Inc. (NASDAQ: TOI) announced that CEO Brad Hively and CFO Mihir Shah will speak at the Credit Suisse 31st Annual Healthcare Conference on November 10, 2022. Founded in 2007, TOI is a leading value-based oncology group in the U.S., providing specialized cancer care to about 1.7 million patients through over 50 clinics. The institute employs more than 90 clinicians and focuses on advanced, evidence-based treatment options.
The Oncology Institute (TOI) announced it will release its third quarter financial results on November 9, 2022, after market close. The results will be followed by a conference call at 5:00 p.m. Eastern Time. Investors can access the call via phone or live webcast through the company's Investor Relations website. Founded in 2007, TOI provides value-based oncology care to approximately 1.7 million patients, supported by over 90 clinicians across 50 clinic locations. For further information, visit their official website.
The Oncology Institute (NASDAQ: TOI) is enhancing its presence in value-based oncology care. Executives will attend key conferences, including the Association for Value-Based Cancer Care from October 19-21 in New York, where CEO Brad Hively will address capital markets' impact on cancer care. Other sessions include insights from COO Dr. Matt Miller and Chief Medical Officer Dr. Yale Podnos. Dr. Daniel Virnich will also speak at the Reuters Oncology Conference on October 20. These events reflect TOI's growth and commitment to innovative oncology solutions.
The Oncology Institute announces the appointment of Phil Reger as Chief Information Officer and Cristina Green as Vice President of Clinical Research. Reger, with 25 years of IT experience including healthcare, will lead technology initiatives to support the company's growth. Green, boasting over 24 years in clinical research, will enhance access to clinical trials for patients. CEO Brad Hively emphasized the importance of their leadership in advancing TOI's focus on research and health equity. TOI aims to deliver specialized, value-based cancer care across the U.S.
The Oncology Institute (NASDAQ: TOI) has expanded into Broward County, Florida, by acquiring Broward Oncology Associates and opening a new clinic in Plantation. This strategic move strengthens TOI's presence in Florida, aligning with its value-based care model aimed at improving clinical outcomes. CEO Brad Hively expressed optimism about providing cutting-edge care to local communities. The Fort Lauderdale clinic will continue operations without disruption, while the Plantation location is set to open in mid-October 2022.
The Oncology Institute, Inc. (NASDAQ: TOI) has announced the successful enrollment of two patients in a Phase 3 clinical trial (BRUIN-CLL-314) comparing Pirtobrutinib (LOXO-305) to Ibrutinib for treating Chronic Lymphocytic Leukemia. Pirtobrutinib targets the Bruton Tyrosine Kinase with a reversible binding mechanism, potentially providing better efficacy and fewer side effects than Ibrutinib, which has been on the market since 2013. The trial is sponsored by Eli Lilly and aims to enhance treatment options for patients with recurring CLL.
The Oncology Institute, Inc. (NASDAQ: TOI) announced the addition of Mark Pacala and Gabe Ling to its Board of Directors, expanding the board to nine members. This strategic move aims to strengthen the company as it grows in the oncology sector, leveraging their deep healthcare management and investment expertise. Pacala brings over 30 years of experience in healthcare, including leadership roles at major companies, while Ling co-founded M33 Growth, focusing on emerging technology and healthcare investments. Their insights are expected to guide TOI's pursuit of its strategic objectives.
CERRITOS, Calif., Sept. 15, 2022 - The Oncology Institute, Inc. (NASDAQ: TOI) announced that its CEO, Brad Hively, will join the panel on 'Next Frontier - Value Based Care for Sub-Capitation/Specialties' at the Nephron 2nd Annual Physician Enablement Symposium on September 22 at 9:00 am EST. Founded in 2007, TOI is one of the largest value-based oncology groups in the U.S., serving around 1.7 million patients through over 50 clinic locations, employing more than 90 clinicians.