Uphealth, Inc. · OTC:UPHL
Uphealth — SPAC Merger (May 2021)
55 slides from Uphealth's SPAC merger presentation, May 17, 2021
Slide 1: UpHealth Reshaping Healthcare
UpHealth Reshaping Healthcare May 2021 Current SPAC Ticker: GIX Future NYSE Ticker: UPH
Slide 2: Disclaimer
Disclaimer This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination among UpHealth Holdings, Inc. (“UpHealth”), Cloudbreak Health, LLC (“Cloud
Slide 3: Disclaimer: Important Information And Where To Find It
Disclaimer Important Information And Where To Find It In connection with the Proposed Business Combination, GigCapital2 filed a registration statement on Form S-4, on February 8, 2021 including a proxy statement/prospectus (the “Registration Statement”), with the Securities and Exchange Commission (
Slide 4: UpHealth's SPAC Sponsor is a Proven Innovator with A Unique Approach
UpHealth’s SPAC Sponsor is a Proven Innovator with A Unique Approach GigCapital2, Inc. (NYSE: GIX) is a $174M publicly traded Special Purpose Acquisition Company (“SPAC”) / Private-to-Public-Equity (“PPE”) GigCapital2’s IPO was completed in June 2019 Led by a proven management team of experienced en
Slide 5: Presenters
Presenters Ramesh Balakrishnan Co-Chief Executive Officer Jamey Edwards Chief Executive Officer of Cloudbreak(1) Martin Beck Chief Financial Officer Notes: (1) Jamey Edwards will be the Chief Operating Officer of UpHealth upon transaction close.
Slide 6: UpHealth Is Combining to Form One of the Only Profitable, Global, Digital Health Companies
UpHealth Is Combining to Form One of the Only Profitable, Global, Digital Health Companies Serving the Enterprise Healthcare Marketplace 6
Slide 7: Investment Highlights
Investment Highlights UpHealth provides a unique investment opportunity in a rapidly growing sector with significant scale, business visibility, profitability and experienced management Integrated Global Health Platform Addressing Massive Markets with Critical Unmet Needs Proven Solutions with Signi
Slide 8: UpHealth at a Glance
UpHealth at a Glance UpHealth’s solutions simplify some of healthcare’s most complex issues through providing easy to use digital health infrastructure powering digital transformation across the care continuum $117mm 1,800+ 2020E Revenue 58% Revenue US Healthcare 7% CAGR’21 Venues Served by Domestic
Slide 9: UpHealth is Combining Industry Leaders from Healthcare's Most Rapidly Growing Sectors
UpHealth is Combining Industry Leaders from 4 of Healthcare’s Most Rapidly Growing Sectors UpHealth has been purposely constructed to support local Integrated Care healthcare in addressing their most pressing challenges: Management • Care Coordination • Addressing Health Disparities Behavioral Digit
Slide 10: Delivering OneUPHealth to Power Digital Health's Transformation
...Delivering OneUPHealth to Power Digital Health’s Transformation Across the Continuum IntegratedCare Global Digital Behavioral Management Telehealth Pharmacy Health BUSINESS DESCRIPTION: BUSINESS DESCRIPTION: BUSINESS DESCRIPTION: BUSINESS DESCRIPTION: BUSINESS DESCRIPTION: Population Health & Res
Slide 11: Operating Across Key Major Verticals with Main Roles in Healthcare Delivery
...Operating Across Key Major Verticals with Main Roles in Healthcare Delivery... Health Systems / Health Government Employer Education Medical Groups Plans Agencies Health 11
Slide 12: Connecting the Dots to Create Digitally Enabled Care Communities
...Connecting the Dots to Create Digitally Enabled Careat Care Communities... Home Care UpHealth’s care communities AtWork surround a patient with the resources they need when they need it, combining disparate data sources, unifying DigitalDriven Encounter communication and aligning Health unique po
Slide 13: To Create Healthcare the Way it is Supposed to Be
...To Create Healthcare the Way it is Supposed to Be Integrated & Coordinated Care Teams Proactive, Connected & Data-Driven Cumbersome & Complex Single Personalized & Guided Encounter Care Experience Inaccessible, Inefficient, Frictionless, Engaging & Poor Experience Easy to use Current State of Hea
Slide 14: The Opportunity
The Opportunity
Slide 15: Healthcare, One of the Largest Economic Markets in the World, Is Broken
Healthcare, One of the Largest Economic Markets in the World, Is Broken… $4 Trillion Sick (1) $ in Costs VS (17.7% of GDP) #1 Cause Rife withHealth Preventive of Personal Disparities Bankruptcy Patients Providers Nearly Half of U.S. Physicians Overwhelming Care Complexity 42% report burnout, Payors
Slide 16: One of the Last Major Verticals to Go Through Digital Transformation
…and Is One of the Last Major Verticals Sources: (1) Ibisworld, 2019; (2) selectUSA; (3) CMS NHE Fact Sheet, March 2020 to Go Through Digital Transformation… (4) Markets and Markets Report, Dec 2018 (5) BusinessWire, Jan 2021 TRANSPORTATION FINANCE AUTOMOTIVE RETAIL FITNESS HEALTHCARE & WAYFINDING M
Slide 17: UpHealth Sitting at the Nexus of Multiple Massive Growing Markets
...With UpHealth Sitting at the Nexus of Multiple Massive & Rapidly Growing Markets at the Beginning of the Adoption Curve Global Telehealth $61B Integrated Care Global Market in 2019(1) Management $1.35T Medicare & Medicaid Spend(4) Behavioral Health Digital $100B Pharmacy Additional U.S. Behaviora
Slide 18: Digital Stars Are Aligning for Digital Health Adoption
...and the Digital Stars Are Aligning to Create the Perfect Conditions for Digital Health Adoption... Decreasing technology costs Covid as a catalyst 81% of the US population has a smartphone(1) Population becoming digitally savvy Sources: (1) Pew Research Center, 2019 (2) US Telecom, The Broadband
Slide 19: Care Being Pushed Out Into the Community
...With Care Being Pushed Out Into the Community Away From Traditional Brick and Mortar Settings The “gold standard” in healthcare is no longer the in-person visit, it is the Digitally Driven Encounter. In today’s world, that might be email, audio, video, chat or in-person and could happen on-demand
Slide 20: Strong Movement to Value Based Care
...Supported by a Strong Movement to Value Based Care Focused on Quality and Outcomes There is a movement away from Fee For Service (FFS) healthcare where clinicians get paid based on what they do to somebody to value based care where they get paid for how healthy they can keep them in the first pla
Slide 21: UpHealth will leverage its installed base to reshape healthcare
UpHealth will leverage its large installed base, technology, expertise & care communities to reshape healthcare by making the complex simple, the costly cost effective and the inhumane human. For UpHealth, healthcare just got personal. 21
Slide 22: Business Overview
Business Overview
Slide 23: A Proven Leadership Team
A Proven Leadership Team Proven track record of success in creating industry leaders in Healthcare, Technology, Services & Finance Dr. Chirinjeev Kathuria Co-Chairman & Co-Founder Dr. Avi Katz Co-Chairman AlGatmaitan, DSc, FACHE Co-Chief Executive Officer Dr. RameshBalakrishnan Co-Chief Executive Of
Slide 24: Recognized for Expertise in Building Innovative Industry Leaders
...Recognized for Expertise in Building Innovative Industry Leaders... World Economic Forum Becker’s SocialEntrepreneur PatrickSoon-Shiong DigitalHealth Entrepreneur360 Healthcare HospitalReview of the Year Innovation Award Global 100 Top Entrepreneurial Supplier of theYear 260+ telehealth 2020 Jour
Slide 25: Extensive Reach Across Major Health Systems & Payors Globally
With an Extensive Reach Across Major Health Systems & Payors Globally Academic Health Indiana university health Nyu langone Medical center Penn medicine Medicine keck medical center of usc keck medicine of usc Vcu health Ucsf health Ucsan diego health system University hospitals Ucdavis health Huh h
Slide 26: Delivering Value to the 4P's of Healthcare
26 ...Delivering Value to the 4P’s of Healthcare UpHealth will serve as a single source for services and technologies essential to the delivery of affordable and effective care to all healthcare stakeholders Platform Offerings ValueDelivered Patients Providers Payors Pharma A full suite of digital h
Slide 27: Unified Platform Across the Continuum of Care
27 UpHealth’s Unified Platform and Ability to Deliver Across the Continuum of Care is What Local Healthcare Wants Our B2B and B2B2C business model that provides game changing technologies and tech enabled services fully integrated with major end users’ workflows and systems
Slide 28: Building a Defensible Moat Against Point Solutions
28 ...Building a Defensible Moat Against Point Solutions in Market for Healthcare’s Platform Driven Future... Point Solutions One-off experiences that address specific needs Platform Solution Holistic and integrated end-to-end patient experience Uphealth Select a service Interpretation Get Started B
Slide 29: Delivering a One Stop Shop (OneUPHealth)
29 ...Via Delivering a “One Stop Shop” (OneUPHealth) for Digital Health Enablement at the Point of Care • Simplifying: Replacing disparate point solutions with an easy to use platform putting critical resources at clinical teams fingertips • Scaling: Rapidly growing & purely complementary solutions
Slide 30: Delivered on a Global Scale
...Delivered on a Global Scale 30 UpHealth’s platform will be comprised of a global network of patients, providers and payors, addressing complex care challenges in developed and developing markets Global operations in 10+ nations Ability to help US institutions with global strategies as well as pro
Slide 31: Focused on Levels of Integration Post Combination
UpHealth is Focused on 3 Levels of Integration Post Combination Go-to-Market: Sales operations & enablement coordinating company offerings and allowing us to offer OneUphealth at the point of care. Product Integration: Integrating technology via API’s & Open Platforms to offer integrated solutions a
Slide 32: The UpHealth Platform
The UpHealth Platform
Slide 33: Combining to Deliver OneUPHealth at the Point of Care
UpHealth is Combining to Deliver “OneUPHealth” at the Point of Care CLOUD BREAK Tele-Interpretation Services Powered by Cloudbreak MEDQUEST PHARMACY Integrated Full Service ePharmacy Capabilities Powered by MedQuest GLOCAL HEALTHCARE Digitally Driven Primary Care Powered by Glocal Tele-Psychiatry Ca
Slide 34: Starting with Population Health and Care Coordination
Starting with Population Health and Care Coordination... Healthcare Funding Sources Public / Government Payor Premiums Payments for Outcomes, Quality & Performance Outpatient& Diagnostics Services Physicians Care Community Patients& Families syntranet™ Core Platform Clinical Network Care Managers Ho
Slide 35: Product Screenshots: Thrasys
Product Screenshots THRASYS 35
Slide 36: One of the Largest Telemedicine Installed Bases in the Nation
Adding One of the Largest Telemedicine Installed Bases in the Nation... A Leading Network of US Hospital Systems By The Numbers (in 2020) Unified Telemedicine Across the Care Continuum Surrounds patients with their clinical care team on a single multi-party call Any Device, Any Language, Anywhere In
Slide 37: Product Screenshots: Cloudbreak
Product Screenshots CLOUDBREAK 37
Slide 38: Scalable Primary Care Telehealth Solution in International Markets
...an Innovative and Scalable Primary Care Telehealth Solution in International Markets... Redefining the Digital Health Encounter By The Numbers (in 2020) The helloLyf & Litmus Suite of Solutions Digitally driven primary & specialty care encounter combining the best of technology with in-person hea
Slide 39: Integrating Digital Pharmacy with Licenses in All States
...Integrating Digital Pharmacy with Licenses in All 50 States... Digital Pharmacy At a Glance A full-service manufacturing & compounding pharmacy Full pharmacist support throughout patient care journey Robust medical education platform Operates a 40,000 square foot facility with the ability to expa
Slide 40: Product Screenshots: MedQuest
Product Screenshots MEDQUEST 40
Slide 41: Product Screenshots: MedQuest Pharmacy
Product Screenshots MED QUEST PHARMACY HORMONE MARKETING & EDUCATION KIT DESIGNED FOR BHRT PROVIDERS 20 Healthy Aging Brochures: An easy to understand and comprehensive reference about the aging process and hormone replacement therapy (HRT). Find helpful information about the most commonly prescribe
Slide 42: Tech Enabled Behavioral Health
...and Tech Enabled Behavioral Health... A Comprehensive Mental Health Offering Evidence based medical and clinical care Holistic treatment & comprehensive suite of services Strong veteran & first responder relationships Specialized programming for individualized patient needs By The Numbers (in 202
Slide 43: Unified, Interoperable Digital Health Platform
Select a Behavioral Health Doctor Dr. Vishal Fumagali Dr. Linda Gunderson Dr. Michael Feeney Dr. Michelle Wilson Dr. Deborha Simons Dr. Miles Richardson Dr. Daniel Ward Call Next Available Connect Select a Service Interpretation Behavioral Health Specialty Consult Pharmacy Digital Clinic Population
Slide 44: Financial Profile
Financial Profile
Slide 45: UpHealth is a Unique Group of Assets
UpHealth is a Unique Group of Assets... Strategically Selected Digital Health Capabilities Addressing a Global Market Need. A Unified Platform Streamlining the Delivery of Effective, Affordable Care. NEAR-TERM PROJECTIONS 78% 2021E Domestic Revenue 1. Diversified Revenue Base and Unique Positioning
Slide 46: Combination of Predictable Growth & Profitability
...with a Combination of Predictable Growth & Profitability... Year-over-Year 58% 78% Revenue Growth % Adj. EBITDA Margin % 7% 10% 20% 68% CAGR $117M $180- $190M $329M 187% CAGR $8M $20M $16- $66M 2020PF 2021E 2022E 2020PF 201E(1) 2022E(1) 2020PF Revenue By Business Line Integrated CareManagement Gl
Slide 47: Diversified Growth Engines
...with Diversified Growth Engines... By Business Unit 2021E $180- $190M Global Telehealth $42M 2020PF $117M Integrated Care Management $11M Digital Pharmacy $6M Behavioral Health $9M By Growth Category 2021E $180- $190M Additional Organic Growth Contracted Services & Implementation $32M 2020PF $117
Slide 48: Valuation
Valuation
Slide 49: UpHealth Compares Favorably to Public Peers on Growth and Margins
UpHealth Compares Favorably to Public Peers on Growth and Margins... 2021E Revenue Growth(2) Up Health 63.1% 54.5% Teladoc 83.4% SOC Telemed 71.1% OAK STREET HEALTH 50.9% GoodPx 35.9% hims(1) 35.8% PINGAN 29.5% One medical 27.1% Health Catalyst 22.0% amWell 8.0% ontrack 4.5% Peer Group Mean 36.8% 20
Slide 50: Being Priced at a Discount Initially
…is Being Priced at a Discount Initially… 2021E Revenue Multiple(1) Up Health 7.6x 7.2x GoodPx 16.6x Teladoc 11.6x OAK STREET HEALTH 10.8x Health Catalyst 10.0x One medical 9.5x hims 9.1x amwell 8.0x PINGAN 7.9x ONTRACK 7.8x SOC Telemed 6.2x Peer Group Mean 9.8x Discount to Guidance: Low end: 54% 34
Slide 51: Enormous Potential to Trade Up in the Near Term
...With Enormous Potential to Trade Up in the Near Term Enterprise Value $23.2B Mean EV / $14.4B ‘21E Revenue: 9.8x $12.5B $10.9B ~1.3x $4.6B $2.3B $2.1B $1.8B $1.8B $0.7B $0.7B $1.4B Peer Group EV / Revenue Enterprise Value Mean Valuations: Now vs. IPO(1) 9.8x $7.3B ~1.3x ~2.2x 7.6x $3.3B At IPO Cu
Slide 52: The Transaction
The Transaction
Slide 53: Strong Balance Sheet, Positioned for Significant & Stable Growth
UpHealth is a Leading Digital Health Company with a Strong Balance Sheet, Positioned for Significant & Stable Growth Estimated Transaction Sources & Uses ($ in millions) Pro Forma Enterprise Valuation at Close ($ in millions) SOURCES(1) PF TRANSACTION GigCapital2 Cash in Trust $149.6 Total Equity Va
Slide 54: UpHealth Is Combining to Form One of the Only Profitable, Global, Digital Health Companies
UpHealth Is Combining to Form One of the Only Profitable, Global, Digital Health Companies Serving the Enterprise Healthcare Marketplace 54
Slide 55: Thank You
Thank You VISIT OUR WEBSITES: GigCapital2 UpHealth, Inc. www.gigcapital2.com www.uphealthinc.com FOR GIGCAPITAL2 INFORMATION, CONTACT: Brian Ruby, ICR ir@gigcapital2.com FOR UPHEALTH & CLOUDBREAK INFORMATION, CONTACT: Investor Relations: Reed Anderson reed.anderson@icrinc.com Media: Phil Denning phi