Aveanna Healthcare Holdings Inc. · NASDAQ:AVAH
Aveanna Healthcare — Investor Presentation (May 2023)
18 slides from Aveanna Healthcare's investor presentation, May 22, 2023
Slide 1: Investor Presentation May 22, 2023
Investor Presentation May 22, 2023 Exhibit 99.1
Slide 2: Disclaimers and Forward-Looking Statements
Disclaimers and Forward-Looking Statements This investor presentation (this "presentation“) and any oral statements made in connection with this presentation are for information purposes only and do not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase a
Slide 3: Today's Presenters
YEARS IN HEALTHCARE Today’s Presenters David Afshar Chief Financial Officer Jeff Shaner Chief Executive Officer 20+ 20+ CEO of Aveanna since January of 2023 Instrumental in formation of Aveanna Healthcare Chief Operating Officer of Aveanna Healthcare since 2017 Chief Operating Officer of PSA Healthc
Slide 4: The History of Aveanna
The History of Aveanna 2017 Merger of PSA and Epic created Aveanna, a leading pediatric homecare company 2018 Acquired Premier Healthcare Services; added CA as a key state 2017 Bain co-investment with JH Whitney to form Aveanna 2020 Acquired Five Points Healthcare and Recover Health, expanding into
Slide 5: Aveanna at a Glance
Aveanna at a Glance By The Numbers 2018 – 2022 Revenue Growth National Footprint Payor Mix4 2023 Guidance(1) Key Operating Statistics $1,840m Revenue 31% Gross Margin(2) $130m Adjusted EBITDA 327 Locations 33 States 26,000 Caregivers 39m Homecare Hours(3) 1,500+ Distinct Payors _____________________
Slide 6: Who We Serve: Pediatrics, Adults, and Geriatrics
Melia and Mom Heather Valerie Brylee and Mom Marisa “I loved meeting the nurses and therapists who came to my home. They were caring, encouraging and so helpful with my recovery. Now I am independent again and feeling great after my hip replacement surgery.” “Melia’s progress has been amazing since
Slide 7: Private Duty Services Segment By The Numbers
Private Duty Services Segment By The Numbers Key Items Financial Highlights Key Operating Statistics 80% of Consolidated Revenue Run Rate1 28% – 30% Gross Margin2 3% - 5% Organic Growth Rate3 224 Locations 28 States 37,000 Patients on Service <10 Avg. Patient Age Avg. Case Length 3-5 Years Growth Dr
Slide 8: Medical Solutions Segment By The Numbers
Medical Solutions Segment By The Numbers Key Items Financial Highlights Key Operating Statistics Locations Patients on Service Avg. Patient Age Avg. Case Length Growth Drivers - Clinically-specialized sales force, scaled infrastructure, new market expansion strategy, cross-sell between PDS and HHH P
Slide 9: Home Health & Hospice Segment By The Numbers
Home Health & Hospice Segment By The Numbers Key Items Financial Highlights Key Operating Statistics Locations States Patients on Service Avg. Patient Age Avg. Case Length Growth Drivers - Clinical outcomes and quality measures, experienced sales force, specialty programs targeting high- cost patien
Slide 10: Reimbursement Environment is Structurally Positive
Reimbursement Environment is Structurally Positive Diverse group of payors includes managed care organizations (“MCOs”), state-based Medicaid programs, Medicare, MA plans, commercial insurance and other government payers across 33 states Over 1,500 distinct payors No single payor accounted for more
Slide 11: Industry Trends
Industry Trends Current and Future Trends Cost Savings Value-Based Care Shift to preferred payor and value-based care strategy Increasing recognition of Aveanna’s value proposition Leveraging success of early value-based models with emerging preferred payor opportunities Believe Aveanna is well-posi
Slide 12: Q1 2023 Summary Results
Q1 2023 Summary Results PDS Q1 2023 revenue growth of 6.5% from Q1 2022, driven by 9.8 million hours of care or 1.8% YOY volume increase MS Q1 2023 revenue growth of 10.7% from Q1 2022, driven by strong volume growth of 9.0% Sequential improvement in Q1 2023 HHH results from Q4 2022 - HHH admission
Slide 13: Q1 2023 Balance Sheet Update
Q1 2023 Balance Sheet Update Cash Flow Liquidity Indebtedness and Hedging Liquidity of over $215m, comprised of the following: $34m cash on balance sheet $162m revolver availability $20m securitization availability Undrawn revolver at the end of Q1 Borrowing capacity under revolver subject to a 7.6x
Slide 14: Large, Fragmented Home Care Markets Support Sustainable Growth
Large, Fragmented Home Care Markets Support Sustainable Growth $18bn Legacy Pediatric Focus Personal Care $15.0bn Annual U.S. Healthcare Spend $4.0tn Therapy $6.0bn Enteral Nutrition $2.5bn Therapy $6.0bn Private Duty Nursing $9.5bn Hospice $19.0bn $89bn Addressable Adult Opportunity TAM annual grow
Slide 15: Compelling Growth Opportunities
Compelling Growth Opportunities Historically stable gross margins of ~30-32%2; with focus on optimization opportunities Focus on branch, regional and corporate overhead costs to drive improved margins Margin Profile Focus Believe increasing recognition of Aveanna’s compelling value proposition to
Slide 16: Appendix
8 aveanna healthcare: Appendix
Slide 17: Reconciliation of Net (loss) income to Adjusted EBITDA
Reconciliation of Net (loss) income to Adjusted EBITDA ___________________________ 1. 1-8: Please see our earnings release posted on May 11, 2023 for further description of the nature of these items
Slide 18: Reconciliation of Net cash provided by operating activities to free cash flow
Reconciliation of Net cash provided by operating activities to free cash flow
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