UPH

ODW Increases National Beverage Company’s Units Picked Per Hour by 93%

Retrieved on: 
Tuesday, February 13, 2024

COLUMBUS, Ohio, Feb. 13, 2024 (GLOBE NEWSWIRE) -- ODW Logistics , a fast-growing national third-party (3PL) specializing in integrated logistics solutions, was able to increase the units picked per hour (UPH) by 93% for a leading national beverage company .

Key Points: 
  • COLUMBUS, Ohio, Feb. 13, 2024 (GLOBE NEWSWIRE) -- ODW Logistics , a fast-growing national third-party (3PL) specializing in integrated logistics solutions, was able to increase the units picked per hour (UPH) by 93% for a leading national beverage company .
  • This process involved excessive travel between pick locations, and ODW was able to use its resources to create new efficiency and productivity solutions.
  • Aside from the 93% improvement in units picked per hour, there was also a reduction of 21% in labor.
  • To learn more about ODW Logistics, additional customer success stories, its 3PL services, and employment opportunities, visit ODW Logistics .

UPHEALTH RESUMES TRADING ON THE NEW YORK STOCK EXCHANGE

Retrieved on: 
Tuesday, November 21, 2023

DELRAY BEACH, Fla., Nov. 21, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” or the “Company”) (NYSE: UPH), today announced that the Company has resumed trading on the New York Stock Exchange (“NYSE”) under the symbol “UPH.”  Trading of UPH resumed, today on November 21, 2023, at market open following the disclosures provided in the November 20, 2023 filings, accessible via the Company’s Investor Relations website and the Securities and Exchange Commission at www.sec.gov .

Key Points: 
  • DELRAY BEACH, Fla., Nov. 21, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” or the “Company”) (NYSE: UPH), today announced that the Company has resumed trading on the New York Stock Exchange (“NYSE”) under the symbol “UPH.”  Trading of UPH resumed, today on November 21, 2023, at market open following the disclosures provided in the November 20, 2023 filings, accessible via the Company’s Investor Relations website and the Securities and Exchange Commission at www.sec.gov .

UpHealth Provides Corporate Update And Issues Financial Results For The Third Quarter Of 2023

Retrieved on: 
Monday, November 20, 2023

DELRAY BEACH, Fla., Nov. 20, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“we,” “UpHealth,” or the “Company”) (NYSE: UPH), today issued a corporate update in the form of a letter to shareholders on behalf of CEO, Martin Beck, inclusive of financial results for the third quarter ended September 30, 2023.

Key Points: 
  • For the third quarter of 2023, we reported total revenues of $32.7 million, compared to $38.7 million in the third quarter of 2022.
  • Our gross margin expanded to 54% in the third quarter of 2023, up from 44% in the third quarter of 2022.
  • Due to the deconsolidation of UpHealth Holdings, this excludes approximately $35.6 million of cash at UpHealth Holdings as of September 30, 2023.
  • On September 19, 2023, UpHealth Holdings, a subsidiary of UpHealth, filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code.

UpHealth Enters into Definitive Agreement for Sale of Cloudbreak Health Business to GTCR for $180 Million

Retrieved on: 
Thursday, November 16, 2023

DELRAY BEACH, Fla., Nov. 16, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” the “Company”) (NYSE: UPH), today announced that it has entered into a definitive agreement to sell its wholly-owned subsidiary Cloudbreak Health, LLC (“Cloudbreak”), best known for its Martti translation offering, to GTCR for $180 million in cash. GTCR is a leading private equity firm that partners with management leaders to identify, acquire and build market-leading companies through organic growth and strategic acquisitions.

Key Points: 
  • UpHealth Will Focus on TTC Healthcare, A Growing, Cash Flow Positive Behavioral Health Business
    DELRAY BEACH, Fla., Nov. 16, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” the “Company”) (NYSE: UPH), today announced that it has entered into a definitive agreement to sell its wholly-owned subsidiary Cloudbreak Health, LLC (“Cloudbreak”), best known for its Martti translation offering, to GTCR for $180 million in cash.
  • GTCR is a leading private equity firm that partners with management leaders to identify, acquire and build market-leading companies through organic growth and strategic acquisitions.
  • UpHealth will utilize the proceeds from the sale for payment in full or in part of the Company’s 2026 Unsecured and 2025 Secured Notes, as well as other expenses related to the transaction.
  • As part of the transaction, GTCR will acquire complete equity ownership of Cloudbreak, including the aggregate Cloudbreak employee base.

NYSE to Commence Delisting Proceedings Against UpHealth, Inc. (UPH)

Retrieved on: 
Monday, December 11, 2023

The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of UpHealth, Inc. (the “Company”) — ticker symbol UPH — from the NYSE.

Key Points: 
  • The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of UpHealth, Inc. (the “Company”) — ticker symbol UPH — from the NYSE.
  • Trading in the Company’s common stock will be suspended immediately.
  • The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange.
  • The NYSE will apply to the Securities and Exchange Commission to delist the common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

NYSE to Commence Delisting Proceedings with Respect to the Warrants of UpHealth, Inc. (UPH.WS)

Retrieved on: 
Tuesday, November 28, 2023

Trading in the Company’s Warrants will be suspended immediately.

Key Points: 
  • Trading in the Company’s Warrants will be suspended immediately.
  • Trading in the Company’s common stock — ticker symbol UPH —will continue on the NYSE.
  • NYSE Regulation has determined that the Company’s Warrants are no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 802.01D of the Listed Company Manual.
  • The NYSE will apply to the Securities and Exchange Commission to delist the Warrants upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

GTCR to Acquire Cloudbreak Health

Retrieved on: 
Thursday, November 16, 2023

CHICAGO, Nov. 16, 2023 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire Cloudbreak Health, LLC ("Cloudbreak" or "the Company"), a leading provider of tech-enabled, healthcare-focused language interpretation services, in a corporate carve-out transaction from UpHealth, Inc. ("UpHealth", NYSE: UPH). Under the terms of the agreement, the purchase price is $180 million, and the transaction is expected to close in the first quarter of 2024 following the receipt of customary regulatory and stockholder approvals and closing conditions.

Key Points: 
  • CHICAGO, Nov. 16, 2023 /PRNewswire/ -- GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire Cloudbreak Health, LLC ("Cloudbreak" or "the Company"), a leading provider of tech-enabled, healthcare-focused language interpretation services, in a corporate carve-out transaction from UpHealth, Inc. ("UpHealth", NYSE: UPH).
  • Cloudbreak serves clinicians and patients across all types of healthcare settings, including hospitals, urgent care centers, standalone clinics and medical practices and helps improve health equity across an underserved U.S. patient population.
  • GTCR has substantial experience in the healthcare technology segment in which Cloudbreak operates.
  • "We are excited to partner with Cloudbreak and its talented team to drive this market leading business forward," added Geoffrey Tresley, Principal at GTCR.

Thrasys, Inc., a Subsidiary of Debtor UpHealth Holdings, Inc., Files Voluntary Reorganization Under Chapter 11 of the U.S. Bankruptcy Code

Retrieved on: 
Friday, October 20, 2023

DELRAY BEACH, Fla., Oct. 20, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” the “Company”) (NYSE: UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, today announced Thrasys, Inc. and its sole subsidiary Comprehensive Care Alliance LLC, which has no operations, (collectively, “Thrasys”) filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

Key Points: 
  • Thrasys is a subsidiary of UpHealth Holdings, Inc. (“Holdings”), the subsidiary of UpHealth that filed for Chapter 11 protection on September 19, 2023 in the Bankruptcy Court.
  • UpHealth (NYSE: UPH) and its direct and indirect subsidiaries, Cloudbreak Health, LLC and TTC Healthcare, Inc., respectively, have not filed for Chapter 11 protection and are operating in the normal course of business.
  • Holdings, Thrasys and BHS have filed a motion with the Bankruptcy Court seeking to jointly administer their Chapter 11 cases under the caption In re UpHealth Holdings, Inc., Case No.
  • DLA Piper is serving as legal counsel to UpHealth and its subsidiaries.

UpHealth Announces CEO Transition and Organizational Changes

Retrieved on: 
Wednesday, October 11, 2023

DELRAY BEACH, Fla., Oct. 11, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” the “Company”) (NYSE: UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, today announced the October 5, 2023 appointment by the Board of Directors of the Company of Martin Beck to serve as the Company’s next Chief Executive Officer, replacing Samuel Meckey, effective October 6, 2023, and Mr. Beck being named as a member of the Board of Directors effective October 9, 2023. Mr. Beck has been UpHealth’s Chief Financial Officer since February 2020. Jay Jennings, currently the Company’s Chief Accounting Officer, will assume the role of Chief Financial Officer.

Key Points: 
  • Jay Jennings, currently the Company’s Chief Accounting Officer, will assume the role of Chief Financial Officer.
  • These organizational changes do not impact the Company’s business units.
  • He is the ideal leader to navigate UpHealth through the current financial landscape,” said Dr. Avi Katz, Chair of the Company’s Board of Directors.
  • The aggressive cost reduction actions taken by our new management team represent a first step in the execution of our plan to preserve and enhance stakeholder value.”

ForwardX Robotics and DHL Collaborate To support Expansion

Retrieved on: 
Friday, September 29, 2023

Anticipating a high-speed growth trajectory this year, the warehouse is projected to support an expansion to approximately 1000 stores.

Key Points: 
  • Anticipating a high-speed growth trajectory this year, the warehouse is projected to support an expansion to approximately 1000 stores.
  • To address these challenges, DHL implemented Forwardx's assisted picking solution.
  • Within just two months of using ForwardX's Flex 300-S AMRs, the solution has had a transformative effect on the warehouse's operations.
  • ForwardX AMRs stand out by leveraging advanced sensor fusion technology and computer vision cameras.