医疗保健服务 2025年季度报告

(Mark One)QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune30, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period fromCommission file number:0-12015 Pennsylvania(State or other jurisdiction ofincorporation or organization)(I.R.S. Employer Identification No.) (215)639-4274 Securities registered pursuant to Section 12(b) of the Act: Non-accelerated filer☐Smaller reportingcompany☐Emerging growth company☐ complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨ Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.Common Stock, $0.01par value:72,412,725shares outstanding as of July23, 2025. Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market Risk This report and documents incorporated by reference into it may contain forward-looking statements within the meaning of federalsecurities laws, which are not historical facts but rather are based on current expectations, estimates and projections about our businessand industry, and our beliefs and assumptions. Words such as “believes,” “anticipates,” “plans,” “expects,” “estimates,” “will,” “goal,”“intend” and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements Nature of Operations industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.Although the Company does not directly participate in any government reimbursement programs, the Company’s customers receivegovernment reimbursements related to Medicare and Medicaid. Therefore, the Company’s customers are directly affected by any The Company provides services primarily pursuant to full service agreements with its customers. In such agreements, the Company is responsible for the day-to-day management of its employees located at the customers’ facilities, as well as for the provision of certainsupplies. The Company also provides services on the basis of management-only agreements for a limited number of customers. In amanagement-only agreement, the Company provides management and supervisory services while the customer facility retains payrollresponsibility for the non-supervisory staff. The agreements with customers typically provide for a renewableone yearservice term,cancellable by either party upon30to90days’ notice after an initial period of60to120days.The Company is organized intotworeportable segments: housekeeping, laundry, linen and other services (“Housekeeping”), and Dietary consists of managing the customers’ dietary departments, which are principally responsible for food purchasing, meal preparation and dietitian professional services, which includes the development of menus that meet residents’ dietary needs.Unaudited Interim Financial Data statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December31, 2024. Theresults of operations for the three and six months ended June 30, 2025 are not necessarily indicative of the results that may be expected for any future period. Use of Estimates in Financial Statements of assets and liabilities, disclosures of contingent assets and liabilities and the reported amounts of revenues and expenses. Actualresults could differ from those estimates. Significant estimates are used in determining, but are not limited to, the Company’s allowance for doubtful accounts, accrued insurance claims, deferred taxes and reviews for potential impairment. The estimates arebased upon various factors including current and historical trends, as well as other pertinent industry and regulatory authorityinformation. Management regularly evaluates this information to determine if it is necessary to update the basis for its estimates and toadjust for known changes. significant intercompany transactions and balances have been eliminated in consolidation. June 30, 2025December 31, 2024(in thousands) Restricted cash equivalentsTotal cash and cash equivalents and restricted cash equivalents 1.Restricted cash equivalents represent funds held in money market accounts pursuant to a Collateral Trust Agreement with the Company’s third-party insurer and a trustee whereby investments or money market funds are held in a trust account to benefit the insurer and are restricted for thatpurpose. The trust account was set up in conjunction with a reduction in the Company’s letters of credit collateral obligation for insuranceobligations. receivable are considered short term assets as the Company does not grant payment terms greater than one year. Accounts receivableinitially are recorded at the transaction amount and are recorded after the C