The Oncology Institute to serve as exclusive provider for Nevada Medicaid

LAS VEGAS - The Oncology Institute, Inc. (NASDAQ:TOI), a growing healthcare provider with revenue growth of 17.64% and a market capitalization of $186.22 million, will become the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada effective July 1, according to a press release statement from the company. According to InvestingPro analysis, the company’s stock appears to be fairly valued based on its proprietary Fair Value model.

TOI, which describes itself as one of the largest value-based oncology groups in the United States, will serve SilverSummit’s Medicaid members through three Nevada locations in Las Vegas, Henderson, and Spring Valley. While the company has shown strong revenue growth, InvestingPro data indicates it is not yet profitable, with analysts anticipating continued challenges in achieving profitability this year.

Daniel Virnich, CEO of The Oncology Institute, said the company has "a longstanding track record of providing outstanding care to Medicaid patients in other markets" and looks forward to expanding these efforts in Las Vegas.

Eric Schmacker, Plan President and CEO at SilverSummit Healthplan, stated the partnership would connect Medicaid members with "compassionate, expert oncology care close to home."

The agreement expands TOI’s reach in Nevada, where it already operates three clinic locations. The company currently serves a patient population of over 1.8 million across more than 70 clinic locations nationwide, according to the announcement.

SilverSummit Healthplan, established in 2017, is a managed care plan providing Medicaid and marketplace health insurance in Nevada. It operates as a Centene Corporation company.

In other recent news, The Oncology Institute reported a 10.3% increase in revenue for the first quarter of 2025, reaching $104.4 million. Despite the revenue growth, the company posted a loss in earnings per share at -$0.21, which did not meet market expectations. The Oncology Institute has also been included in the Russell 2000 and 3000 indexes, a significant development for the company. Additionally, BTIG initiated coverage on The Oncology Institute with a Buy rating and set a price target of $7.00, highlighting the company’s high margins from capitated contracts. The firm emphasized the potential for increased revenue through expanded fee-for-service arrangements as healthcare costs rise. These developments underscore The Oncology Institute’s ongoing efforts to improve its financial performance and strategic positioning in the market.

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