Nobilis Health Corp. N.HLTH

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[SBAASTOCKS11]

Statement from the Nobilis Health Corp. Board of Directors October 11, 2015

The Nobilis Board of Directors and its Audit Committee have been made aware of and have reviewed a blogger's posting on a site called "Seeking Alpha". This anonymous posting contains significant inaccuracies, inflammatory accusations and several misrepresentations concerning our company, its management and our financial condition. While we understandably have serious disagreement with these scurrilous claims, as to their validity and accuracy, the public and investors should know that the Nobilis Board of Directors and its Audit Committee take seriously any and all such claims made publicly about our company, as we understand the material effect such claims may have on our reputation and on our financial integrity.

Accordingly, in an effort to address these allegations we believe that full disclosure and complete transparency is the appropriate way to show our commitment to the public, our investors and our regulators. To this end, the Chairman of our Audit Committee, Steve Ozonian is announcing that the Committee and the Board's Independent Directors have appointed and retained an outside Independent Counsel who will conduct a full review of each and every allegation raised by this blog. This Review will be presented to the public as an Independent Counsel's Report and will be based upon a pre-commitment to full transparency and disclosure.

The Independent Counsel appointed to conduct this Review are Robert R. Hopper, Esq., Managing Partner, Robert R. Hopper & Associates, Attorneys at Law, Minneapolis, MN; and, Lanny J. Davis, Esq., Lanny J. Davis and Associates, Attorney at Law, Washington, DC. Both of these counsel are exceedingly experienced attorneys with the integrity to lead and guide this process.

Mr. Ozonian, his Audit Committee members and the Independent Directors have the endorsement of Nobilis' full Board of Directors to engage Independent Counsel and undertake this Review. All of Nobilis’ Directors are confident that the work of the Independent Counsel and their Review will show that these allegations have no merit whatsoever and that when brought to the "light of day", these allegations will be completely dismissed and the truth in Nobilis' financial integrity will prevail.

Steve Ozonian

Management’s Initial Response to Seeking Alpha October 11, 2015

Nobilis’ Management has reviewed the inflammatory and slanderous anonymous blogger’s posting on the crowd funded tabloid Seeking Alpha and has prepared the following brief response to that posting’s most outrageous innuendo. While the Company does not make a habit of responding to bloggers or commenters in other investors forums, least of all anonymous ones, it is making an exception in this case because of the clear harm done to the Company’s shareholders, which was the obvious intent of this blogger and those colluding with him or her to manipulate our Company’s stock price for their self- interested gain.

1. The So-Called Accounting Red-Flags are Simply Red-Herrings.

Each allegation implying that there is financial impropriety at the Company is belied by the facts as detailed in the Company’s corporate disclosure.

FACT: There are no auditor issues. The Company’s prior auditor, the regional firm Calvetti Ferguson and Wagner, resigned at the Company’s request to make way for Crowe Horwath, a nationally-recognized accounting firm, to assume the role. This change was a continuous subject of discussion with our institutional investors. The 8-K announcing the resignation, as required by law, clearly stated that Calvetti’s resignation was not the result of any dispute with the Company. Additionally, Calvetti continues to work with the Company on internal controls auditor – a fact omitted by the anonymous blogger in order to mislead the investing public.

FACT: There are no personnel troubles at CFO. Four of the Company’s last five CFOs remain engaged with the Company, in the various roles of Chairman, Executive Vice President of Finance, Tax Counsel, and as the current CFO. The changes were made as the Company quickly outgrew the expertise of each successive CFO. It is thus outrageous for the anonymous blogger to imply that the change in CFO was to somehow hide information. Every CFO is available to assist the new auditors with any questions they may have and are prepared to stand behind their accounting – another fact omitted by the anonymous blogger in order to mislead the investing public.

FACT: There are no accounts receivable issues with Accurascope-branded procedures. The anonymous blogger misconstrues and misunderstands the way that Accurascope-branded procedures are billed. Such procedures are billed under several codes depending on the unique surgery selected by the physician for a given patient. The fact is that a “brand” is not the same as a “CPT code”. The anonymous blogger is using a false distinction to mislead investors – our revenues bear this out. Further, the collectability of accounts receivable owed to now-bankrupt companies is utterly irrelevant to the collectability of Nobilis’ accounts receivable. The reasons behind Victory Healthcare’s inability to collect accounts receivable is related to historical issues at Victory that are in no way, shape or form related to Nobilis – yet another fact omitted by the anonymous blogger in order to mislead the investing public.

2. Our “Questionable Marketing” is Unquestionably Appropriate and Unquestionably Successful.

Management’s Initial Response to Seeking Alpha October 11, 2015

FACT: Our marketing materials appropriately describe the relatively risks and benefits of our branded procedures and the success rates are supported by medical research as well as our own data. The anonymous blogger quotes “other sources” for “complications stemming from an Accurascope DND”. In fact these “other sources” were a standard informed consent document of which some form is required for every spine procedure performed in the State of Texas.

FACT: The research backing up the clinical and economic efficacy of our branded procedures is valid and compelling. The author attempts to denigrate the validity of the research by implying that we somehow paid for the results. These studies followed standard protocols for the production of peer reviewed medical research. As is customary, the physicians actually performing the procedures were instrumental in both the aggregation of data as well as the publishing of results and all of these activities were performed outside of the purview Nobilis/Athas.

FACT: Consumerism in healthcare is here to stay. Nobilis recognized the impact of greater patient financial burden coinciding with the disruption of traditional medical referral patterns brought about by the increased availability of medical information. Nobilis invested heavily in meeting patients’ changing healthcare consumption patterns and is well positioned to continue to benefit from these trends. The author’s contention that our healthcare marketing is somehow peculiar or unethical is ill-informed at best.

3. We Stand by Our Guidance.

FACT: Nobilis Management reiterates its guidance. In the summer the Company issued guidance for 2015, which increased our earlier forecast for the year. The Company stands by its updated summer forecast. Indeed, the Company has witnessed 19 quarters of sustained growth with triple digit growth throughout 2015.

4. Our Insiders Remain Significantly Invested in Nobilis and its Successes.

FACT: No Insiders Have “Cashed Out”. Insiders and Management continue to own approximately 25 million shares and share units. This includes the holdings of Kramer, Fleming, and Lloyd, among others with smaller holdings. Contrary to the anonymous blogger’s assertions, Chris Lloyd has not sold a single share of Company stock. These are yet again more facts selectively and deceptively omitted by the anonymous blogger in order to mislead the investing public.

FACT: Large insider sales by Kramer and Fleming were a matter of extensive public disclosure and occurred at the request of our investors. Investors demanded the participation of Kramer and Fleming in the May private placement, to both reduce the concentration of shares held by management and limit the dilutive effect of the capital raise. Further, the Company chose to participate in the private placement only to the extent that it had a capital need on the heels of its 25 million dollar debt raise with GE Capital. The facts here simply speak for themselves.