Yahoo Finance 4 Healthcare Stocks Starting The Year Off Strong
CORAL GABLES, FL / ACCESSWIRE / January 8, 2019 / The healthcare industry is predicated on the notion that as diseases become more advanced and difficult to treat, companies responsible for creating treatment options will rise to the occasion to assist patients suffering from said ailments. Given that the world's population is consistently increasing, and resources are diminishing, access to healthcare presents a dire need for consumers on a global scale. As healthcare companies work to develop new methods for bettering the care provided to their patients, the industry, in its entirety, will unite to meet the demands and needs of consumers in the space looking for qualitative healthcare. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Rite Aid Corporation (RAD), Fred's Inc (FRED), and Teladoc Health Inc (TDOC), are 4 healthcare stocks representing companies invested in creating the best quality treatments for their patients.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) closed out Monday with the Company's shares trading at $0.64 per share, well above the $0.53 close back in October, as well as steadily ahead of $0.59 per share price point from early last month. In December, the Company announced that, as a means of furthering their efforts to develop innovative approaches that combine human-skill based expertise with emerging technologies for the healthcare sector, it had signed a binding letter of intent to acquire all outstanding securities of Cloud Practice Inc.
Presently, Cloud Practice offers cloud-based electronic medal records software for medical professionals across Canada. As stated in their recent financial reports, Cloud Practice is EBITDA positive, resulting in immediate cash flow generation and earnings accretion for Premier Health.
In affirmation of the LOI, Premier Health Group (OTC:PHGRF) (CSE:PHGI)'s CEO, Dr. Essam Hamza, said, ''We are ecstatic at the opportunity to build on our patient-centric technology platform through the integration of Cloud Practice's suite of software solutions. They have a strong team of developers who are just as enthusiastic as we are about the future of healthcare. We believe that this partnership will help facilitate our vision of integrating telemedicine, online booking and other premium services with our electronic medical record (EMR) system.''
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Rite Aid Corporation (RAD) saw its shares enjoy a 4.84% boost, to $0.81 per share, in just before noon on Tuesday, following an announcement towards the end of December that the Company had entered into a new senior secured credit agreement, consisting of a $2.7 billion senior secured asset-based revolving credit facility and a $450 million "first-in, last out" senior secured term loan facility.
According to the press release regarding the announcement, the new $3.15 billion credit facilities refinance Rite Aid's existing $2.7 billion senior secured asset-based revolving credit facility that was scheduled to mature in January 2020. The new facilities extend the company's debt maturity profile and provide additional liquidity. The new senior secured credit facilities mature in December 2023, subject to an earlier maturity on December 31, 2022 if Rite Aid has not repaid or refinanced its existing 6.125% Senior Notes due 2023 prior to such date.
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Fred's, Inc (FRED) reported their financial results for the third fiscal quarter just ahead of the new year, the details of which explained that the Company's gross profit increased to $77 million in Q3 2018 versus Q3 2017 due primarily to a one-time markdown reserve charge that was recorded in Q3 2017.
Joe Anto, Fred's Interim CEO and CFO, stated "We have made significant progress against our goal of strengthening the balance sheet and as of December 12, 2018 our ABL balance stood at $51.9 million vs. $153.4 million as of the beginning of this Fiscal Year. As of December 12, 2018 we completed the sale of script files associated with approximately 138 locations to Walgreens and expect to complete the remaining 41 location transfers to Walgreens by the end of January 2019. As we have stated in the past, we are continuing to evaluate potential opportunities to monetize all our non-core assets including our retail pharmacy script portfolio as well as our real estate."
For More Information On Fred's, Inc., Click Here
Teladoc Health Inc (TDOC), a global leader in the virtual care sub-sect of the greater healthcare industry, announced in mid-December, that, in an effort to maintain a cohesive leadership team consisting of members dedicated to the Company and its mission, Mark Hirschhorn had resigned as Executive Vice President, Chief Operating Officer, and Chief Financial Officer, effective January 1, 2019.
Following the announcement, Mr. Hirschhorn commented, ''While this was a difficult decision, it's the right one for my family and the company. It has been an enormous privilege to play a role in transforming how people access healthcare around the world, and I know the talented team at Teladoc Health is well positioned to continue advancing this important mission.''
For More Information On Teladoc Health, Inc, Click Here
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