Nutex Health appoints Grant Thornton as new auditor

Nutex Health Inc. (NASDAQ:NUTX), a provider of business services in the healthcare sector with a market capitalization of $986 million and impressive revenue growth of 141% year-over-year, announced a change in its independent registered public accounting firm. According to InvestingPro analysis, the company maintains a strong financial health score and shows promising market performance with a modest P/E ratio of 10.6x. As disclosed in the company’s recent Form 8-K filing with the Securities and Exchange Commission, the Audit Committee of Nutex Health’s Board of Directors has completed a competitive selection process for its auditor for the fiscal year ending December 31, 2025.

Effective May 15, 2025, Nutex Health dismissed CBIZ (NYSE:CBZ) CPAs P.C. as its auditor. The dismissal followed a report on April 25, 2025, which did not contain an audit opinion on the company’s financial statements. The company has reported no "reportable events" as defined by regulation, except for identified material weaknesses in internal control over financial reporting. These weaknesses pertained to ineffective design and implementation of controls over logical access, program change management, vendor management, and controls across financial reporting processes.

Subsequently, the Audit Committee has engaged Grant Thornton LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2025. Prior to this appointment, Nutex Health had not consulted Grant Thornton on any matters that would influence their financial statements.

The company has provided a copy of the disclosures regarding the change in auditors to CBIZ, which has been asked to furnish a letter to the SEC concerning their agreement with the statements. CBIZ’s response letter, dated May 21, 2025, has been filed as Exhibit 16.1 with the Form 8-K.

This change in the company’s certifying accountant is part of Nutex Health’s ongoing efforts to ensure the integrity and accuracy of its financial reporting. The company’s solid financial position is reflected in its healthy current ratio of 2.27, indicating strong liquidity management. For deeper insights into NUTX’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.

In other recent news, Nutex Health has reported a remarkable 214% increase in first-quarter revenue, totaling $211.8 million, compared to the previous year. This significant growth was largely driven by favorable arbitration outcomes under the No Surprise Act, contributing approximately $105 million in revenue. Benchmark analysts responded to these strong results by raising the company’s stock price target from $150 to $300, maintaining a Buy rating. Nutex Health’s adjusted EBITDA also showed substantial improvement, reaching $72.8 million from a previous loss, while net income stood at $14.6 million or $2.65 per basic share. The company plans to continue its expansion efforts by opening three new hospitals in Texas later in 2025. Additionally, Nutex Health is exploring technology investments to enhance operational efficiencies and has upwardly revised its revenue, adjusted EBITDA, and GAAP EPS expectations for fiscal years 2025 and 2026. These developments reflect Nutex Health’s strategic growth and operational stability, as noted by Benchmark and other analysts.

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