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Elite Health Systems Inc. SEC 10-K Report
- jwoldt
- Jun 3
- 3 min read
Updated: Jul 17
Apr 2, 2025, 16:08 GMT-44 min read; Article by TradingView.com
Elite Health Systems Inc., formerly known as U.S. NeuroSurgical Holdings, Inc., has announced its financial results for the year ended December 31, 2024. The company is transitioning from operating radiation treatment centers to developing and managing Medicare Advantage plans, with an initial focus on California and Nevada.
Business Highlights
Business Transformation: Elite Health Systems Inc. is transitioning from its previous focus on radiation treatment centers to developing a managed care organization. This new focus is on providing Medicare Advantage plans and related services, initially targeting California and Nevada.
Geographical Focus: The company is concentrating its efforts in California and Nevada, with plans to expand its Medicare Advantage plans to these regions. Elite Health Plan, Inc. has submitted documentation for a Knox-Keene license in California and is preparing to apply for a similar license in Nevada.
Operational Strategy: Elite Health is working on establishing a network of providers experienced in Medicare Advantage plans to address the healthcare needs of seniors. The company aims to offer a comprehensive, community-based, and cost-effective healthcare management service solution.
Leadership and Management: Dr. Prasad Jeereddi, an accomplished endocrinologist, joined the company as Chairman of the Board and CEO in July 2024. His leadership is expected to leverage his extensive relationships with healthcare professionals in California and India.
Provider Network Development: Elite Health has achieved over 90% network adequacy in all required physician primary/specialty and facility specialty categories for its intended service area in Los Angeles, Riverside, and San Bernardino counties.
Future Outlook: The company plans to contract with local healthcare providers, hospitals, and facilities to offer a greater choice of providers than standard health maintenance organizations. This localized focus is expected to provide a unique marketing advantage.
Regulatory Approvals: Elite Health is in the process of obtaining approvals from the Centers for Medicare & Medicaid Services (CMS). The final submission of plan details was provided in June 2025, which CMS is reviewing. We received our Knox Keene license from the California Department of Managed Health Care (DMHC) in May of 2025.
Competitive Landscape: The company anticipates entering a highly competitive market dominated by major health insurance entities like UnitedHealth Group and Humana. Elite Health plans to compete on quality, value, and localized service offerings.
Operational Challenges: The success of Elite Health will depend on timely obtaining necessary approvals, establishing a competent provider network, and enrolling a critical level of subscribers. The company currently has no revenue and is focused on securing licenses to operate.
Strategic Partnerships: The company is open to pursuing growth through commercial opportunities and strategic transactions, including partnerships, acquisitions, or mergers related to its Medicare Advantage plans and services.
Strategic Initiatives
Strategic Focus: Elite Health Systems Inc. is focusing on establishing a managed care organization to develop and operate Medicare Advantage plans, initially targeting California and Nevada. The company is actively pursuing the necessary licenses and approvals to operate these plans, with a strategic emphasis on expanding its network of providers and enrolling a critical mass of subscribers.
Capital Management: The company raised $5.8 million through the private sale of 11,650,000 shares of common stock, which was used to fund operations and strategic initiatives. As of December 31, 2024, the company had cash and cash equivalents of $4,034,000, a significant increase from the previous year. The company did not declare any dividends and has no plans to do so in the foreseeable future. There were no equity repurchases during the year ended December 31, 2024.
Future Outlook: Elite Health Systems Inc. plans to continue focusing on obtaining the necessary licenses to operate Medicare Advantage plans and expanding its provider network. The company anticipates that its strategic initiatives will require additional capital, and it believes it has access to further funding through 2025. Management is confident that these efforts will support the company's long-term success and ability to continue as a going concern.
SEC Filing:
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About Elite Health Plan:
Elite Health Systems, Inc., (formerly US Neurosurgery Holdings, Inc) is shifting its investment strategy to capitalize on the expanding Medicare Advantage Health Plan sector. We presents an investment model supported by providers and led by physicians, aiming to advance the coordination of healthcare delivery.
Contact Elite Health Systems, Inc: