Cosmos Holdings Inc. (NASDAQ: COSM) recently disclosed its fourth-quarter results. Reporting revenue of $22.7 million, a slight increase from the $21.5 million recorded in the same quarter of the previous year. The quarter’s earnings per share (EPS) were $0.08, compared to $0.07 in the corresponding period last year .
The company also made an important announcement, revealing that it has appointed One Equity Partners as its new financial advisor. One Equity Partners is a renowned middle market private equity firm with an impressive $13 billion worth of assets under management.
John Vassallo, CEO of Cosmos Holdings, expressed contentment with the new financial advisor. Hence, emphasizing One Equity Partners’ extensive experience in the healthcare sector. The company looks forward to collaborating with the firm as they persist in implementing their growth strategy.
Cosmos Holdings is a prominent healthcare service provider. They operate across three key segments: physician services, hospital services, and other services .
In the fourth quarter, the physician services segment reported revenue of $10.4 million. Marking an increase from the $9.7 million achieved in the same period last year. The hospital services segment generated revenue of $12.3 million, compared to $11.8 million in the corresponding quarter of the previous year. The other services segment reported revenue of $0.0 million, similar to the previous year’s same quarter.
The company’s strong fourth-quarter results were primarily driven by the robust growth observed in the physician services segment. Notably, the segment experienced an impressive 8.4% surge in revenue, attributable to a rise in the number of physicians served and an increase in the number of procedures performed.
John Vassallo reiterated his satisfaction with the fourth-quarter performance. He also expressed confidence in their continuous progress in executing their growth strategy. The physician services segment’s remarkable growth is indicative of the company’s focus on expanding its offerings and enhancing its market presence.
Looking ahead, Cosmos Holdings remains committed to the further expansion of its physician services division. Thus, leveraging the flourishing healthcare sector’s growth opportunities.