Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Investor Presentation (February 2020)
10 slides from Adapthealth's investor presentation, February 2020
Slide 1: Investor Presentation 2020
Investor Presentation 2020 February 2020
Slide 2: Disclaimers and Other Important Information
Disclaimer Disclaimers and Other Important Information This presentation (this “Presentation”) is for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential investment in AdaptHealth Corp. (“AdaptHealth” or the “Compa
Slide 3: AdaptHealth is the 3rd Largest Provider of HME in the US
AdaptHealth is the 3rd Largest Pro Forma w/ PCS & Provider of HME in the US Advanced Home Care Acquisitions Revenue Breakdown at 12/31/19 Supplies 19% Sleep Product Mix (1) Other 43% as of 12/31/19 8% HME 35% 14% Respiratory Product Rentals 16% 65% Patient 12% Product Sales Payor Mix (2) as of 12/31
Slide 4: AdaptHealth Services More Than 1.4mm Patients Annually
AdaptHealth Services More Than 1.4mm Patients Annually + More than 60% of patients served have a chronic disease including: + Sleep Apnea + Chronic Obstructive Pulmonary Disease (COPD) + Diabetes + Congestive Heart Failure (CHF) + More than 50% received at least 2 or more deliveries in 2019 + 187 Lo
Slide 5: Targeting 20% Growth Annually
Targeting 20% Growth Annually Growth Levers Platform Diversification 12-15% (1) HME M&A 6-8% Organic Growth Key Drivers: + Sleep market growth – 80% undiagnosed + 67 acquisitions completed since 2012 + Additional product lines + Demo graphic growth + 1,000s of mom + pops + Remote Patient Monitoring
Slide 6: HME M&A: AH is a Proven Consolidator
HME M&A: AH is a Proven Consolidator Cumulative Acquisitions Sample Top Vendor & Purchase Price Annual Cost Savings ($ in millions) ($ in millions) 64 65 Cumulative Purchase Price Cumulative Number of Acquisitions Pre-Acquisition Post-Acquisition Savings % Transaction 1 27.5 25.4 2.1 8% 46 $338 $324
Slide 7: Historical Financial Performance
Historical Financial Performance Net Revenue ($ In Millions) Adj. EBITDA2 $529.6 $123.0 $84.4 $345.3 $174.3 $192.6 $45.0 $33.1 2016A 2017A 2018A 2019A 2016A 2017A 2018A 2019A Adj. EBITDA less Patient Capital Expenditures1,2 Adj. EBITDA less Patient Capex Margin2 13.1% 14.3% $75.6 10.0% $45.1 4.4% $1
Slide 8: 2020 Financial Guidance
2020 Financial Guidance(1) Revenue $765mm-$782mm Adjusted EBITDA $155mm-$158mm Adjusted EBITDA Less Complex $95mm-$97mm Source: Management Notes: (1) This outlook reflects the acquisitions of Advanced and PCS but excludes anticipated first year PCS operating losses as well as severance and restructu
Slide 9: Adjusted EBITDA Bridge
Adjusted EBITDA Bridge AdaptHealth Adjusted EBITDA Bridge to Net Income Fiscal Year Ended December 31 2016A 2017A 2018A 2019A Net Income / (Loss) attributable to AdaptHealth Holdings LLC ($4.2) $9.7 $23.3 ($15.0) Plus: Income attributable to noncontrolling interest 0.6 0.6 1.1 2.1 Plus: Interest exp
Slide 10: Thank You!
Thank You!