ATI Physical Therapy, Inc. (ATIP) is one of the physical therapy providers in patients with musculoskeletal (MSK) issues. The range of services provided by the company includes work conditioning, water therapy, athletic training support, home health, general wellness programs, and functional capability check.
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The price of ATIP stock during the regular trading on December 31, 2021, was $3.39 with a slight increase of 3.04%. At last check in the aftermarket, the stock dipped significantly by 9.73%.
ATIP: Events and Happenings
On December 8, 2021, ATIP reported about its new addition to the Board of Directors, appointing Teresa Sparks to the position. She had experience in healthcare finance platforms. She will help the organization in its business strategy and growth. On November 18, 2021, ATIP reported about the acquisition of Excel-R-ation Physical Therapy. The company after the acquisition extended its mark in the Grand Rapids range. It strengthened the company’s Michigan program and built more clinics in far places.
ATIP: Key Financials
On November 9, 2021, ATIP announced its financial results for the third quarter ended September 30, 2021. Some of the key highlights are as follows
Net Operating Revenue
Net operating revenue for the third quarter of 2021 was $159 million as compared to the same period prior year when it was $148 million.
Net Income/Loss
Net loss for Q3 2021 was $325 million as compared to the net income for the same period of 2020 which was $1.02 million.
Total Current Assets
Total current assets of the company for Q3 2021 were $163 million.
On November 8, 2021, ATIP reported about the acquisition of Hope Rehab Katy in Texas. The company extended its mark in the Houston market through this step.
On November 4, 2021, ATIP announced about a national collaboration with National direct primary healthcare provider Everside Health. The collaboration combined Everside’s innovative people-centered prime care expertise with the company’s novel MSK health care services to deliver preventive care along with reduction of costs for both companies and patients.
Conclusion
Although ATIP’s stock showed 60% decline from the last six months, the company showed signs of improvement in its stock price. But in the current aftermarket, the stock again fell due to unfavorable market conditions and also the proceeding investigations against the company. The company should form solid investor-based strategies to attract the potential investment for the company
