Latest news with #SALTLAKECITY
Associated Press
05-08-2025
- Business
- Associated Press
Kindly MD Reports Financial Results for Second Quarter 2025
Proposed merger with Nakamoto Holdings expected to close on approximately August 11, 2025 During the quarter, Kindly MD made initial purchase of 21 BTC valued at $2.25 million as of June 30, 2025, with proceeds from warrants exercises Cash and cash equivalents was $6.02 million as of June 30, 2025 SALT LAKE CITY, UTAH / ACCESS Newswire / August 5, 2025 / Kindly MD, Inc. (NASDAQ:NAKA) ('KindlyMD'), a leading provider of integrated healthcare services, today announced its financial results for the second quarter ended June 30, 2025. Tim Pickett, Founder and CEO of KindlyMD, commented, 'During the quarter we received approximately $9.2 million in proceeds from warrants exercises, which allowed us to make an initial purchase of 21 BTC valued at $2.25 million as of June 30, 2025. Our entire team, along with David Bailey and the Nakamoto team, are eagerly looking forward to the closing of our merger, which will accelerate our mission to acquire one million Bitcoin.' Kindly MD and Nakamoto Operational Highlights On May 12, 2025, Kindly MD entered into a definitive Agreement and Plan of Merger (the 'Merger Agreement') with Nakamoto Holdings, Inc. ('Nakamoto') with plans post-closing to establish a Bitcoin treasury. To date, the Company has entered into subscription agreements totaling over $510 million in a private investment in public equity (the 'PIPE financing'), a Convertible Debt Purchase Agreement with an aggregate principal amount of $200 million in convertible notes, and $51.5 million in an additional PIPE financing, raising a total of approximately $761.5 million upon the Closing of the Merger. On May 18, 2025, holders of a majority of the outstanding common stock of KindlyMD delivered a written consent approving the Merger Agreement and related transactions with Nakamoto. Subsequent to the quarter, on July 22, 2025, KindlyMD and Nakamoto announced the filing of the definitive information statement in connection with the proposed Merger with the U.S. Securities and Exchange Commission ('SEC'). KindlyMD and Nakamoto expect to close the transaction on or around August 11, 2025, subject to other customary closing conditions. Kindly MD Financial Highlights for the Second Quarter Ending June 30, 2025 Kindly MD earned $231,726 in reimbursements from insurance payers during the three months ended June 30, 2025, representing a 153.1% increase compared to the $91,553 earned during the three months ended June 30, 2024. Revenues decreased by $230,530, or 36.1%, to $408,527 for the three months ended June 30, 2025, from $639,057 for the three months ended June 30, 2024. The decrease in revenues is primarily attributed to a decrease in cash-pay patient care service pricing and the closing of our Bountiful location. Net loss was $2,413,787 for the three months ended June 30, 2025, compared to a net loss of $1,319,653 for the three months ended June 30, 2024. Net cash used in investing activities was $2,521,108 for the second quarter ended June 30, 2025, which was the result of the purchase of digital assets of $2,289,585 and an increase in capitalized software additions of $231,523. Net cash provided by financing activities was $9,048,390 for the second quarter ended June 30, 2025, which was primarily due to $9,216,420 in proceeds from the exercise of warrants. As a result of these cash flow activities, net cash increased by $3,750,980, or 165.0%, from $2,273,624 as of December 31, 2024, to $6,024,604 as of June 30, 2025. About KindlyMD KindlyMD® is a patient-first healthcare company integrating traditional primary care, pain management, behavioral health, and alternative therapies to provide comprehensive, whole-person care. In May 2025, KindlyMD announced a definitive merger agreement with Nakamoto Holdings, a Bitcoin-native holding company, to establish a publicly traded Bitcoin treasury vehicle. This strategic partnership aims to combine KindlyMD's healthcare expertise with Nakamoto's vision of integrating Bitcoin into global capital markets, creating a diversified entity focused on both healthcare innovation and Bitcoin treasury management. Its specialty outpatient clinical services are reimbursed by Medicare, Medicaid, and commercial insurance contracts as well as offered on a fee-for-service basis. For more information, please visit About Nakamoto Nakamoto is a Bitcoin treasury company building a global portfolio of Bitcoin-native companies. Nakamoto plans to establish the first publicly traded conglomerate of Bitcoin companies by accumulating Bitcoin in its treasury and by leveraging its treasury to acquire and develop an ecosystem of Bitcoin companies across finance, media, advisory and more. The company aims to provide commercial and financial infrastructure for the next generation of capital markets. For more information, please visit Forward-Looking Statements All statements, other than statements of historical fact, included in this release that address activities, events or developments that Kindly MD or Nakamoto expects, believes or anticipates will or may occur in the future are forward-looking statements. Words such as 'estimate,' 'project,' 'predict,' 'believe,' 'expect,' 'anticipate,' 'potential,' 'create,' 'intend,' 'could,' 'would,' 'may,' 'plan,' 'will,' 'guidance,' 'look,' 'goal,' 'future,' 'build,' 'focus,' 'continue,' 'strive,' 'allow' or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the proposed merger and related transactions, (collectively, the 'Transactions') the expected closing of the proposed Transactions and the timing thereof and as adjusted descriptions of the post-transaction company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, including the management team and board of directors of the combined company and expected use of proceeds from the Transactions, and any post-closing transactions contemplated between the combined company and BTC Inc (and/or UTXO, LLC through BTC Inc). Information adjusted for the proposed Transactions should not be considered a forecast of future results. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this release. These include the risk that Kindly MD and Nakamoto businesses (which may include the businesses of BTC Inc and/or UTXO in the future, as applicable) will not be integrated successfully and the risk that Kindly MD or the applicable governing bodies of BTC Inc and/or UTXO may not pursue or approve the terms of an acquisition of BTC Inc and/or UTXO; the risk that cost savings, synergies and growth from the proposed transaction may not be fully realized or may take longer to realize than expected; the possibility that shareholders of Kindly MD may not approve the issuance of new shares of Kindly MD common stock in the Transactions or that shareholders of Kindly MD may not approve the Transactions; the risk that a condition to closing of the Transactions may not be satisfied, that either party may terminate the merger agreement, the subscription agreements of the convertible debt purchase agreement or that the closing of the Transactions might be delayed or not occur at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Transactions; the parties do not receive regulatory approval of the Transactions; the occurrence of any other event, change, or other circumstances that could give rise to the termination of the merger agreement relating to the Transactions; the risk that changes in Kindly MD's capital structure and governance could have adverse effects on the market value of its securities; the ability of Kindly MD and Nakamoto to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on Kindly MD and Nakamoto's operating results and business generally; the risk the Transactions could distract management from ongoing business operations or cause Kindly MD and/or Nakamoto to incur substantial costs; the risk that Kindly MD may be unable to reduce expenses or access financing or liquidity; the impact of any related economic downturn; the risk of changes in governmental regulations or enforcement practices; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond Kindly MD's and Nakamoto's control, including those detailed in Kindly MD's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and such other documents of Kindly MD filed, or to be filed, with the SEC that are or will be available on Kindly MD's website at and on the website of the SEC at All forward-looking statements are based on assumptions that Kindly MD and Nakamoto believe to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and neither Kindly MD or Nakamoto undertakes any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Media Contacts Valter Pinto, Managing Director KCSA Strategic Communications (212) 896-1254 [email protected] KINDLY MD, INC. CONDENSED BALANCE SHEETS KINDLY MD, INC. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) KINDLY MD, INC. CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) SOURCE: KindlyMD, Inc press release
Yahoo
31-07-2025
- Business
- Yahoo
Cotiviti's Quality Measurement and Reporting Solution Achieves 25th Consecutive Year of HEDIS® Measure Certification
HEDIS measures embedded in Cotiviti's Quality Intelligence pass NCQA's validation process for Measurement Year (MY) 2025 SALT LAKE CITY, July 31, 2025--(BUSINESS WIRE)--Quality Engine, the administrative measure logic and sample processing component of Cotiviti's Quality Intelligence solution, has earned HEDIS® Certified Measures™ status from the National Committee for Quality Assurance (NCQA) for Measurement Year (MY) 2025. HEDIS Measure Certification validates that Cotiviti's measures have been put through the thorough testing required to effectively support health plans with the HEDIS MY 2025 season. This milestone marks an industry-leading 25 consecutive years of certification, demonstrating Cotiviti's ability to adapt and serve as a long-term partner to health plans as the HEDIS program continually evolves. "The ongoing transition to fully digital quality measurement requires health plans to have a quality improvement solution that not only meets the highest standards for accuracy, but continually evolves to meet and exceed new requirements," said Emad Rizk, M.D., chairman, president, and CEO of Cotiviti. "This achievement reflects Cotiviti's unwavering commitment to supporting our health plan clients. It speaks to the deep expertise we've built through decades of working with billions of data points, navigating complex measurement requirements, and helping our clients meet the changing demands of quality reporting." Cotiviti's Quality Intelligence processes more than 147 million member lives reported to NCQA and serves as a comprehensive measurement and reporting solution that streamlines compliance while supporting HEDIS, state-specific, and other quality measure submissions. Newly launched in 2025, Cotiviti's Engagement Hub integrates with Quality Intelligence to drive coordination and efficiency through a centralized member engagement and reporting platform, enabling plans to close care gaps to ultimately improve quality scores. Further integrations within Cotiviti's quality improvement ecosystem support year-round quality improvement and enable better member health. When integrated with Cotiviti's Star Intelligence, Quality Intelligence provides a centralized platform for managing both HEDIS and Star Ratings, helping clients ensure consistency across programs and maintain compatibility with historical data to support accurate trending and projections. Cotiviti's scalable medical record retrieval and abstraction services also connect directly with the solution to enable end-to-end support for health plans throughout the HEDIS season. "Payers need a trusted partner in quality improvement with a longstanding track record of success to help them navigate the digital quality transition and deliver high-performing, reliable solutions that have been continuously refined and supported over decades," said Chad Kinkead, executive vice president of risk adjustment, quality, and engagement for Cotiviti. "Cotiviti's Quality Intelligence supports all members and lines of business with end-to-end capabilities for accurate processing, reporting, audits, and submissions, backed by a team of experts who are committed to supporting health plans during and after the transition to digital reporting. Our clients can anticipate further innovation as we integrate Cotiviti's industry-leading quality improvement, DxCG risk assessment, engagement, and risk adjustment solutions with Edifecs' leading NLP-enabled coding platform, interoperability capabilities, and AI-enabled value based-payment solutions." About Cotiviti Cotiviti enables healthcare organizations to deliver better care at lower cost through advanced technology and data analytics that improve the quality and sustainability of healthcare in the United States. Cotiviti's solutions increase transparency and collaboration between payers and providers while empowering them to reduce medical and administrative costs, enable better health, improve claims payment efficiency, streamline operations, drive interoperability, and advance value-based care. Its customers serve the majority of U.S. healthcare consumers, providing coverage and care for over 300 million members and patients. Additionally, Cotiviti offers data management and recovery audit services to the retail sector to improve business outcomes. For more information, visit About NCQA NCQA is a private, non-profit organization dedicated to improving healthcare quality. NCQA accredits and certifies a wide range of healthcare organizations. It also recognizes clinicians and practices in key areas of performance. NCQA's website contains information to help consumers, employers and others make more informed healthcare choices. View source version on Contacts Corey PatchkofskyAria Marketing for Cotiviticpatchkofsky@ 203-710-2296 Sign in to access your portfolio
Associated Press
10-07-2025
- Sport
- Associated Press
Former Jazz coach and GM Frank Layden dies at 93
SALT LAKE CITY (AP) — Frank Layden, the sharp-witted former coach who led the Utah Jazz to the playoffs for the first time, has died. He was 93. 'Frank Layden made a lasting impact on the Jazz, the state of Utah, and the NBA,' the Jazz said in a statement Wednesday. 'There will never be another like him. Our thoughts go out to his family as we join in mourning his loss and celebrating his life. Rest easy, Coach.' Known for his humor and sideline antics, Layden coached the Jazz from 1981-89 and had 277 wins, third-most in franchise history. He's the only coach in Jazz history to be named NBA coach of the year, earning the honor in 1984, when he also was honored as executive of the year. Born in Brooklyn in 1932, Layden began his coaching career in the high school ranks before moving on to coach at his alma mater, Niagara University. He made the jump to the NBA in 1976 on Hubie Brown's staff with the Atlanta Hawks and became the New Orleans Jazz's general manager in 1979. Layden took over as coach after Tom Nissalke was fired midway through the 1981-82 season and led the franchise to its first playoff appearance in his second season. Layden stepped away from coaching early in the 1988-89 season and was replaced by future Hall of Famer Jerry Sloan. Layden stayed on as the team's president and general manager, part of a staff that selected Hall of Famers John Stockton and Karl Malone. He spent one season as coach of the WNBA's Utah Starzz in 1998-99. 'It's hard to imagine the story of the Utah Jazz without the presence of Frank Layden,' Jazz owners Ryan and Ashley Smith said. 'He was an amazing person who meant so much to this organization and to our fans. His love of the sport was felt around the NBA, and he set the franchise on a course for success, helping to build an enduring legacy for the state of Utah.' Layden remained in the Salt Lake City area after leaving coaching and earned the Chuck Daly Lifetime Achievement Award in 2019. ___ AP NBA:
Washington Post
10-07-2025
- Washington Post
Utah judge schedules execution by firing squad for a man with dementia
SALT LAKE CITY — A Utah judge on Wednesday set an execution date for a man with dementia who has been on death row for 37 years , even as his lawyers file appeals and argue his condition is worsening. Ralph Leroy Menzies, 67, is set to be executed Sept. 5 for abducting and killing Utah mother of three Maurine Hunsaker in 1986. When given a choice decades ago, Menzies selected a firing squad as his method of execution. He would become only the sixth U.S. prisoner executed by firing squad since 1977. Judge Matthew Bates signed the death warrant a month after he ruled Menzies 'consistently and rationally' understands why he is facing execution despite recent cognitive decline. Attorneys for Menzies have petitioned the court for a reassessment, but Bates said Wednesday that the pending appeal was not a basis to stop him from setting a date. Bates did, however, schedule a July 23 hearing to evaluate the new competency petition. Menzies' attorneys say his dementia has gotten so severe that he uses a wheelchair, is dependent on oxygen and cannot understand his legal case. 'We remain hopeful that the courts or the clemency board will recognize the profound inhumanity of executing a man who is experiencing steep cognitive decline and significant memory loss,' said Lindsey Layer, an attorney for Menzies. 'Taking the life of someone with a terminal illness who is no longer a threat to anyone and whose mind and identity have been overtaken by dementia serves neither justice nor human decency.' The Utah Attorney General's Office has 'full confidence' in the judge's decision, Assistant Attorney General Daniel Boyer said. The U.S. Supreme Court has at times spared prisoners with dementia from execution, including an Alabama man in 2019 who had killed a police officer. If a defendant cannot understand why they are being put to death, the high court said, then an execution is not carrying out the retribution that society is seeking. For Hunsaker's son Matt, who was 10 years old when his mother was killed, it has been 'hard to swallow that it's taken this long' to get justice. 'You issue the warrant today, you start a process for our family,' he told the judge Wednesday. 'It puts everybody on the clock. We've now introduced another generation of my mom, and we still don't have justice served.' Hunsaker, 26, was abducted by Menzies from a convenience store where she worked in the Salt Lake City suburb of Kearns. She was later found strangled and her throat cut about 16 miles (25 kilometers) away at a picnic area in Big Cottonwood Canyon. Menzies had Hunsaker's wallet and several other belongings when he was jailed on unrelated matters. He was convicted of first-degree murder and other crimes in 1988. Over nearly four decades, attorneys for Menzies filed multiple appeals that delayed his death sentence, which had been scheduled at least twice before it was pushed back. He and other Utah death row inmates sentenced before May 2004 were given a choice between firing squad and lethal injection. For inmates sentenced in the state after that date, lethal injection is the default method unless the drugs are unavailable. Utah last executed prisoners by firing squad in 2010, and South Carolina used the method on two men this year. Only three other states — Idaho, Mississippi and Oklahoma — allow firing squad executions. Menzies is among 10 people scheduled to be put to death in seven states during the remainder of 2025. Twenty-five men in the U.S. have died by court-ordered execution so far this year.
Associated Press
09-07-2025
- Associated Press
Utah judge schedules execution by firing squad for a man with dementia
SALT LAKE CITY (AP) — A Utah judge on Wednesday set an execution date for a man with dementia who has been on death row for 37 years , even as his lawyers file appeals and argue his condition is worsening. Ralph Leroy Menzies, 67, is set to be executed Sept. 5 for abducting and killing Utah mother of three Maurine Hunsaker in 1986. When given a choice decades ago, Menzies selected a firing squad as his method of execution. He would become only the sixth U.S. prisoner executed by firing squad since 1977. Judge Matthew Bates signed the death warrant a month after he ruled Menzies 'consistently and rationally' understands why he is facing execution despite recent cognitive decline. Attorneys for Menzies have petitioned the court for a reassessment, but Bates said Wednesday that the pending appeal was not a basis to stop him from setting a date. Bates did, however, schedule a July 23 hearing to evaluate the new competency petition. Menzies' attorneys say his dementia has gotten so severe that he uses a wheelchair, is dependent on oxygen and cannot understand his legal case. 'We remain hopeful that the courts or the clemency board will recognize the profound inhumanity of executing a man who is experiencing steep cognitive decline and significant memory loss,' said Lindsey Layer, an attorney for Menzies. 'Taking the life of someone with a terminal illness who is no longer a threat to anyone and whose mind and identity have been overtaken by dementia serves neither justice nor human decency.' The Utah Attorney General's Office has 'full confidence' in the judge's decision, Assistant Attorney General Daniel Boyer said. The U.S. Supreme Court has at times spared prisoners with dementia from execution, including an Alabama man in 2019 who had killed a police officer. If a defendant cannot understand why they are being put to death, the high court said, then an execution is not carrying out the retribution that society is seeking. For Hunsaker's son Matt, who was 10 years old when his mother was killed, it has been 'hard to swallow that it's taken this long' to get justice. 'You issue the warrant today, you start a process for our family,' he told the judge Wednesday. 'It puts everybody on the clock. We've now introduced another generation of my mom, and we still don't have justice served.' Hunsaker, 26, was abducted by Menzies from a convenience store where she worked in the Salt Lake City suburb of Kearns. She was later found strangled and her throat cut about 16 miles (25 kilometers) away at a picnic area in Big Cottonwood Canyon. Menzies had Hunsaker's wallet and several other belongings when he was jailed on unrelated matters. He was convicted of first-degree murder and other crimes in 1988. Over nearly four decades, attorneys for Menzies filed multiple appeals that delayed his death sentence, which had been scheduled at least twice before it was pushed back. He and other Utah death row inmates sentenced before May 2004 were given a choice between firing squad and lethal injection. For inmates sentenced in the state after that date, lethal injection is the default method unless the drugs are unavailable. Utah last executed prisoners by firing squad in 2010, and South Carolina used the method on two men this year. Only three other states — Idaho, Mississippi and Oklahoma — allow firing squad executions. Menzies is among 10 people scheduled to be put to death in seven states during the remainder of 2025. Twenty-five men in the U.S. have died by court-ordered execution so far this year.
