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.
The Oncology Institute (NASDAQ: TOI) has achieved Patient Safety Organization (PSO) accreditation from the Agency for Healthcare Research and Quality. This new entity aims to enhance patient safety and care quality by analyzing safety data and providing guidance and training to clinicians. Dr. Yale Podnos, the Chief Medical Officer, emphasized that this certification underscores their commitment to patient care. Currently, only 100 PSOs exist in the U.S., with TOI obtaining a three-year listing effective August 25, 2022. This accreditation is expected to bolster the organization’s healthcare services.
The Oncology Institute (NASDAQ: TOI) partners with Blue Note Therapeutics to enhance mental health support for cancer patients. The digital therapeutic attune™ addresses anxiety and depression specifically related to cancer treatments, available via prescription to eligible TOI patients. This partnership aims to improve patient access to psychological resources, targeting the 85% of U.S. cancer patients treated in community settings. The initiative aligns with TOI's commitment to value-based care, emphasizing comprehensive support throughout patients' cancer journeys.
The Oncology Institute (NASDAQ: TOI) will host a Fireside Chat featuring CEO Brad Hively and CFO Mihir Shah during the Baird Newly Public Company Virtual Access Day on August 17, 2022, at 2:20 PM EST. Interested investors can access the live webcast through the Investor Relations section of the company’s website. The Oncology Institute focuses on advancing value-based community oncology, serving around 1.7 million patients with over 90 clinicians across 50+ locations. For further information, visit theoncologyinstitute.com.
The Oncology Institute (NASDAQ: TOI) reported a strong second quarter for 2022, with revenue at $61 million, up 22.2% year-over-year. Despite this growth, the company faced a net loss of $5 million compared to a net income of $3 million in the previous year. They completed a $110 million investment from Deerfield Management, aimed at supporting expansion. The company maintains its 2022 guidance, projecting revenue between $270 million and $310 million and an adjusted EBITDA loss of $20 to $25 million. Overall, TOI continues its growth trajectory with a focus on value-based oncology.
The Oncology Institute (NASDAQ: TOI) announced a $110 million investment from Deerfield Management Company to accelerate its growth in the oncology market. The investment will involve issuing 4% secured senior convertible notes, maturing on August 9, 2027, which can be converted into approximately 12.84 million shares of common stock at an initial price of $8.567. This capital will expand TOI's patient access to high-quality, value-based care. The net proceeds are estimated at $106 million, aimed at funding acquisitions and general corporate purposes.
The Oncology Institute, Inc. (NASDAQ: TOI) has announced the acquisition of Dr. Nutan Parikh's practice in Las Vegas, enhancing its presence in the Nevada market. This partnership promises to expand access to value-based oncology care for local patients, supported by Dr. Parikh's established trust and experience. Patients will benefit from access to over 170 clinical trials, physician dispensary services, and community-based chemotherapy treatments. The integration of Dr. Parikh’s locations is aimed at improving patient care and accessibility in the greater Las Vegas area.
The Oncology Institute (TOI) will announce its second-quarter results on August 9, 2022, after market close. A conference call will follow at 5:00 p.m. ET, providing insights into its performance and business strategies. Investors can access the call by phone or listen via a live webcast on TOI's Investor Relations website. Established in 2007, TOI specializes in value-based cancer care, serving over 1.5 million patients across more than 50 locations with advanced oncology services and a team of 80+ clinicians.
The Oncology Institute, Inc. (NASDAQ: TOI) announced the acquisition of Dr. Ranjan Sapra's practice, enhancing its presence in Orange County, California. This merger expands TOI’s network to 93 physicians and advanced providers across 55 clinics in five states. Patients will access over 170 clinical trials, physician dispensary services, and various treatment programs. Effective July 1, 2022, Dr. Sapra’s practice will relocate to TOI’s Fountain Valley clinic. The partnership aims to improve patient care while maintaining uninterrupted services during the transition.
The Oncology Institute (NASDAQ: TOI) announced an expanded partnership with McKesson Corporation focused on drug distribution and clinical technology. This multi-year agreement aims to streamline TOI’s pharmaceutical logistics and support its growth strategy. CEO Brad Hively emphasized the importance of this partnership for enhancing high-value oncology care delivery. Since 2007, TOI has been providing specialized cancer care, performing over 57,000 infusions and prescribing more than 8,000 chemotherapeutics annually.
CERRITOS, Calif., June 21, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute (NASDAQ: TOI), a leading value-based oncology group, announced CEO Brad Hively's participation in the 'Value-Based Care for Medicare' panel at the Cowen FutureHealth Conference on June 22 at 3:25 pm EST. Established in 2007, TOI provides specialized, evidence-based cancer care to around 1.5 million patients through over 50 clinics and 80+ employed clinicians, advancing oncology care significantly.