Slide 1: P3 Analyst Day Presentation September 2021
Exhibit 99.1 P3 Analyst Day Presentation September 2021 Who: People with Passion and Purpose What: Dedicated to Transforming Healthcare for Patients, Providers, and Payors How: Patient-Centric, Physician-Led, and Population Health Management FocusedExhibit 99.1 P3 Analyst Day Presentation September
Slide 2: Disclaimer: Basis of Presentation and Forward-Looking Statements
Disclaimer BASIS OF 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 (the “proposed business combination”) between P3 Health Partners (“P3”) an
Slide 3: Disclaimer: Use of Projections and Non-GAAP Measures
Disclaimer USE OF PROJECTIONS AND DESCRIPTION OF KEY CONTRACTS AND PARTNERSHIPS This presentation contains projected financial information with respect to P3, namely revenue and EBITDA for 2021. Such projected financial information constitutes forward-looking information, and is for illustrative pur
Slide 4: Disclaimer: Participants in the Solicitation
Disclaimer PARTICIPANTS IN THE SOLICITATION Foresight, P3 and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Foresight’s stockholders in connection with th
Slide 5: Foresight Acquisition Corp. Adds Significant Value to P3 Health Partners
Foresight Acquisition Corp. Adds Significant Value to P3 Health Partners ■ Currently serves as President and Founder of his family office, ■ Former Partner and Co-Manager of the William Blair Wasson Enterprise Small Institutional portfolio and Small Cap Growth Fund ■ Former CEO and President of Walg
Slide 6: Today's Presenters
Today’s Presenters Who: People with Passion and Purpose What: Dedicated to Transforming Sherif Abdou, MD, MMM, Amir Bacchus, MD, MBA FACP, FACPE Chief Medical Officer Healthcare for Patients, Providers, Chief Executive Officer and Payors How: Patient-Centric, Physician-Led, and Population Health Man
Slide 7: P3 Health Partners
Overview PS Health Partners People. Pession. Purpose.
Slide 8: P3 At A Glance
P3 At A Glance 20+ 11 We Take Global Risk In A Rapidly Growing ~$300bn Years of value-based care Operates in 11 markets across Medicare Advantage Market And Benefit From the Value We experience 4 states Create Through Improved Clinical Outcomes We Are A Market Leader ~27K With A Strong Track Record
Slide 9: P3 Vision & Mission
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Vision & Mission Vision Mission To build the greatest population health To be the best health partner for… management company. Patients, Providers & Payors. 8Overview P3 Health Partners Growth Strategy Proven Outcomes
Slide 10: P3 Core Values
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Core Values Our attitude is respecting and valuing everyone. People. Our community is strong and safe. Our heart is our patients. Passion. Our soul is our clinicians. Our core is fixing healthcare. Purpose. Our mindset
Slide 11: P3 Investment Highlights
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Investment Highlights Large, Growing TAM With Significant Whitespace Deeply Experienced Management Team Capital Efficient & Scalable Model Proven Outcomes Multiple Avenues of Organic Growth 10Overview P3 Health Partner
Slide 12: U.S. Healthcare Facing Significant Challenges
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview U.S. Healthcare Facing Significant Challenges Uncontrolled high costs Poor access to primary care 5.4% $3.8T 25% Project healthcare US spending on Americans do not have access to 1 spending growth healthcare (2019) 2 esse
Slide 13: P3 Addresses Some of the Largest Challenges in U.S. Healthcare Today
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Addresses Some of the Largest Challenges in U.S. Healthcare Today Uncontrolled high costs Poor access to primary care Transition To X X Fee For Value- Studies indicate ~10% savings in medical spending Part of VBC reimb
Slide 14: P3 Has a Substantial Market Opportunity
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Has a Substantial Market Opportunity Annual U.S. Healthcare Spend 1 ~$3.8T Total Addressable Market Opportunity Medicare Spend 2 ~$800bn ➢ lncludes Medicare eligibles who utilize either Traditional Medicare and / or Me
Slide 15: Medicare Market Is Growing and MA Penetration Is Increasing
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Medicare Market Is Growing and MA Penetration Is Increasing Medicare Advantage Enrollment Key Tailwinds ➢ 10,000 seniors age into Medicare each day, with growing percentage (~39% today) 2,1 choosing MA plans ➢ U.S. popula
Slide 16: Market Proven Board With Extensive Healthcare Expertise
Market Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Proven Board With Extensive Healthcare Expertise Greg Wasson Mark Thierer Sherif Abdou, MD Amir Bacchus, MD Director Chairman of the Board Chief Executive Officer & Director Chief Medical Officer & Director • CEO &
Slide 17: Three Distinct Growth Models in Value-Based Physician Enabler Space
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Three Distinct Growth Models in Value-Based Physician Enabler Space Builds clinics, hires providers, ~$3,000 / MA 1 and recruit patients in patient value-based care model Build Acquires clinics and ~$10,000 / MA converts
Slide 18: P3 Health Partners Compares Favorably Across Key Metrics
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Health Partners Compares Favorably Across Key Metrics Capital Light Capital Intensive 1 1 1 1 1 Enterprise Value $2.3bn $12.7bn $7.6bn $801mm $13.7bn 2 3 Year Founded 2018 1983 2009 2011 2012 Buy – Acquisition Buy – Ac
Slide 19: Given ~2% of MA Lives in VBC, True Competition is FFS Payment Model
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Given ~2% of MA Lives in VBC, True Competition is FFS Payment Model 1 2 Value-Based Care Physician Enablers % of Total Medicare Advantage Enrollment ~68k ~210k ~109k ~85k ~2% ~26k of ~24mm MA enrollees ~31k 1 P3 MA lives
Slide 20: P3 Model Has Demonstrated Proven Outcomes
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Model Has Demonstrated Proven Outcomes 1 Medical Cost Reduction of ~20% ➢ Results reflect first P3 payor contract in Arizona (“Payor A”), driven by a combination of: ➢ Aligned PCP incentives $652 $539 ➢ Delegated servi
Slide 21: P3's Track Record Of Organic Growth
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3’s Track Record Of Organic Growth Total Full Risk Lives Total Revenue 86K CAGR: 71% $825M CAGR: 75% 68K $633M 50K $483M 10K $145M 10K $88M 2018A 2019A 2020A 2021E 2022E 2018A 2019A 2020A 2021E 2022E Note: Patient number
Slide 22: P3 Investment Highlights
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Investment Highlights Large, Growing TAM With Significant Whitespace Deeply Experienced Management Team Capital Efficient & Scalable Model Proven Outcomes Multiple Avenues of Organic Growth 21Overview P3 Health Partner
Slide 23: P3 Overview
P3 Overview Pooplo. Passion. Purpose.
Slide 24: Proven Outcomes, Compelling Economics And Physician-Led
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Proven Outcomes, Compelling Economics And Physician-Led We are able to drive enhanced outcomes via our patient- centric, 35% / 36% ~135% physician-led 99% 97% Reduction in Annual Physician Patient hospital revenue care mo
Slide 25: P3: Years In The Making
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3: 20 Years In The Making First full-risk contract P3’s first full year P3 expands into 6 Founding members of P3 Scaling the business of revenue new markets for a take on their first full-risk ~100K MA global risk lives
Slide 26: Physician-Led, Deeply Experienced Management Team
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Physician-Led, Deeply Experienced Management Team With 20 Years+ In Value-Based Care Sherif Abdou, MD, Amir Bacchus, MD, MBA Lorie Glisson Todd Lefkowitz, MHA MMM, FACP, FACPE Chief Executive Officer Chief Medical Officer
Slide 27: P3's Affiliate Model Engages All Key Stakeholders
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3’s Affiliate Model Engages All Key Stakeholders ➢ P3 partners with vs. displaces local providers ➢ P3 partners directly with payors ➢ P3 contracts and develops a full network of ➢ P3 has ability to take on delegated pri
Slide 28: The P3 Model Is Effective And A Win Scenario For All Key Stakeholders
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview The P3 Model Is Effective And A “Win” Scenario For All Key Stakeholders Patients Physicians Payors ➢ Improved primary care ➢ Physicians receive benefit ➢ Improved clinical outcomes access to physicians of P3 team, tools a
Slide 29: How We Bend The Cost Curve
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview How We Bend The Cost Curve ➢ Identify high-risk, rising risk and high-cost patients and share with their physicians to help prioritize care 1 Risk Stratification ➢ Engage physician partners with activity lists and guideli
Slide 30: P3 Care Teams Engage Patients Immediately to Focus on Wellness and Prevention
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Care Teams Engage Patients Immediately to Focus on Wellness and Prevention A New Patient Onboarding B P3 Care Team Engages Ms. Smith ➢ P3 Care Team stratifies new members based on known disease burden, ➢ P3 Care Team r
Slide 31: When a Patient is Admitted to the Hospital, P3 Has a Well-Developed Care Plan
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview When a Patient is Admitted to the Hospital, P3 Has a Well-Developed Care Plan 1 ED Visit: Hospital evaluates P3 patient in ED and wants to admit them to the hospital. 2 Authorization: Hospital notifies P3 to request admit
Slide 32: Transitions of Care Post Discharge Designed to Prevent Costly Readmissions
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Transitions of Care Post Discharge Designed to Prevent Costly Readmissions 1 Discharge: P3 patient leaves the hospital. All patients are then enrolled in P3 proprietary transition of care program (30-45 days). 2 Initial C
Slide 33: Delegation of Services Creates Value
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Delegation of Services Creates Value Key delegation services… Network management and credentialling Network management and credentialling Utilization management ~$99 ~$41 PMPM PMPM Care management ➢ Aetna’s oncology costs
Slide 34: Delegated Utilization and Care Management Reduce Medical Costs and ED Use
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Delegated Utilization and Care Management Reduce Medical Costs and ED Use Utilization Management Care Management 2 3 1 ~36% ~35% ~30% reduction in reduction in hospital to ASC savings ED visits hospital admissions ➢ P3 Ca
Slide 35: How Our Products Work
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview How Our Products Work Internal Systems P3 Data Fabric P3 Health Hub Claims Adjudication User Provisioning & Access One Login Contracting/ Staging & Quality Provider Facing Analytics CV Submission For MRA Credentialing Pro
Slide 36: Our Technology Suite Enables The Delivery Of High-Quality Care At Scale
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Our Technology Suite Enables The Delivery Of High-Quality Care At Scale Provider Portal Analytic Management P3 Care Connect P3 N-Gage ➢ Seeks to improve provider ➢ Seeks to leverage data to ➢ Seeks to improve efficiency ➢
Slide 37: P3 Model Not Only Drives Results, But Also Improves Patient Experience
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Model Not Only Drives Results, But Also Improves Patient Experience “I love my care manager. She is so patient “I used to go to the emergency room “My PCP told me I needed to see a surgeon, and really cares for her pat
Slide 38: Our Fly Wheel Drives The Repeatability Of Our Care Model
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Our Fly Wheel Drives The Repeatability Of Our Care Model And Its Outcomes 35% 97% 4 1 Reduction in hospital admissions Patient satisfaction Higher patient satisfaction High quality of care meaningfully reduces the Greater
Slide 39: Growth Strategy
Growth Strategy Pooplo. Passion. Purpose.
Slide 40: Strong History Of High Organic Growth And Line-of-Sight To Continued Success
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview We Have A Strong History Of High Organic Growth And A Line-of-Sight To Continued Success Via Our Capital-Efficient Affiliate Model ’18A-’22E ➢ P3 continues to (FYE 12/31) 2018A 2019A 2020A 2021E 2022E CAGR successfully le
Slide 41: P3 Model Enables Capital Efficient Growth and Maintains Patient-Provider Relationship
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Model Enables Capital Efficient Growth and Maintains Patient-Provider Relationship Market Entry Decisions Are Informed By Provider And Payor Data, Thereby Avoiding Large Upfront Costs We Enter Markets Through Partnersh
Slide 42: Value-Based Care Physician Enablement Economics
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Value-Based Care Physician Enablement Economics //ILLUSTRATIVE 1 • CMS pays healthcare plans on a per member per month (PMPM) basis, 1 reflective of patient health conditions 2 3 2 • Value-Based Care Physician Enablement
Slide 43: Examples Of Growth: Centene Case Study
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Examples Of Growth: Centene Case Study Proven Agile P3 Model Allows for Rapid Scale Membership Growth Across States Proven, Agile Model Allows for Rapid Scale OR Douglas County ~15k NV ~10k CA Clark County AZ Yuma County
Slide 44: Examples Of Organic Growth: Arizona Connected Care Case Study
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Examples Of Organic Growth: Arizona Connected Care Case Study Membership Growth Across Mature State Proven, Agile Model Allows for Rapid Scale Entered into provider partnership with Arizona Connected Care in 2018 that pro
Slide 45: P3 Has a Scalable and Repeatable Playbook for Market Entry
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Has a Scalable and Repeatable Playbook for Market Entry 2018 2019 2020 ➢ Identify and retain local leadership teams ➢ Build propriety network including primary care physicians, specialists, and health systems ➢ Recruit
Slide 46: Strong Markets, Diverse Relationships And Growth Trajectory
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Strong Markets, Diverse Relationships And Growth Trajectory Select National and Local Payor Relationships Current states Expansion states Current counties 45Overview P3 Health Partners Growth Strategy Proven Outcomes Fina
Slide 47: Proven Outcomes
Proven OutcomesProven Outcomes
Slide 48: P3 Model Drove ~20% Reduction of Medical Cost in First Three Years
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Model Drove ~20% Reduction of Medical Cost in First Three Years 1 Medical Cost Reduction of $113 PMPM ➢ Results reflect first P3 payor contract in Arizona (“Payor A”) ➢ Aligned physician incentives increased patient ac
Slide 49: Aligned Primary Care Physician Incentives Deliver Optimal Patient Care
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Aligned Primary Care Physician Incentives Deliver Optimal Patient Care Base Compensation Value-Based Incentive Program Surplus Sharing Program ➢ No changes made to base ➢ PCPs immediately qualify for ➢ PCPs share in cumul
Slide 50: P3 Built A Proprietary Network of Physicians, Specialists and Health Systems
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Built A Proprietary Network of Physicians, Specialists and Health Systems Payor 1 ➢ Initially relied on pre-existing (Payor 1) contracts for physician Payor 1 Payor 2 and health system partners Payor 3 Payor 4 ➢ P3 inc
Slide 51: P3 Reshaped Local Network to Drive Medical Cost Reductions
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Reshaped Local Network to Drive Medical Cost Reductions Specialty Cost Reductions ($, PMPM) ➢ P3 reduced the number of home health providers in network and negotiated capitated contract by January st 1 , 2019 ($15 PMPM
Slide 52: Proprietary Network Enables Membership Growth
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Proprietary Network Enables Membership Growth P3 Arizona MA Lives (K) ➢ Our provider network often serves a patient panel beyond our existing payor relationships ➢ An established network provides a common ground for conve
Slide 53: Improved Clinical Outcomes and Reduced Medical Cost with Scalable Model
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Improved Clinical Outcomes and Reduced Medical Cost with Scalable Model “ “ “ “ ~20% 35% 135% 2,000 reduction in medical reduction in hospital 3 4 Revenue growth 2021E PCPs 2 1 costs admissions 1 2 3 Based on P3's hospita
Slide 54: Financial Overview
Financial OverviewFinancial Overview
Slide 55: Clear And Visible Path For Membership Growth
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Clear And Visible Path For Membership Growth Target Long-Term 35% Annual Patient Growth Rate Through a Mix of Payor and Provider Opportunities → Multiple Levers of Growth 8-10% 3-5% 3-5% 3-5% 3-5% 3-5% 5-10% Opportunity O
Slide 56: P3's Proven Track Record Of Organic Growth
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3’s Proven Track Record Of Organic Growth Total Full Risk Lives Total Revenue Note: Patient numbers are approximate 55Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3’s Proven Track Recor
Slide 57: Continued Momentum in 1H21 Despite COVID Headwind
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Continued Momentum in 1H21 Despite COVID Headwind 1 1 Revenue EBITDA PMPM EBITDA% $(43) $(49) -5.3% -5.5% $(39) -3.6% 2 2 Estimated Impact of COVID Estimated Impact of COVID 1H-20A 1H-21A 1H-20A 1H-21A 1 Note: Adjusted EB
Slide 58: Strong Growth Momentum Projected to Continue
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Strong Growth Momentum Projected to Continue Total Full Risk Lives Total Revenue Note: Patient numbers are approximate 57Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Strong Growth Momentu
Slide 59: Near-Term Opportunities in Our Pipeline Represent 100K+ Lives
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Near-Term Opportunities in Our Pipeline Represent 100K+ Lives Select Payor Partnership Opportunity Select Provider Partnership Opportunity ➢ P3 has a pre-existing relationship with Payor B in ➢ P3 pinpoints market in West
Slide 60: Capital Efficient, Affiliate Model Delivers Significant Value
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Capital Efficient, Affiliate Model Delivers Significant Value 2 P3 Model Gives Strong Return on Investment Medical Cost Reduction of ~20% 1 ~$5-8M investment to enter new market 1 ~$300M revenue in Year 4 Arizona 1 2 Mana
Slide 61: Long-Term KPI Targets
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview Long-Term KPI Targets ➢ Leverage existing payor / provider relationships to extend into adjacent markets 3 – 5 ➢ Establish new payor / provider relationships to enter new markets Counties per year ➢ Strategically build /
Slide 62: P3 Investment Highlights
Overview P3 Health Partners Growth Strategy Proven Outcomes Financial Overview P3 Investment Highlights Large, Growing TAM ➢ $300b Medicare Advantage market with ~9% growth rate With Significant Whitespace➢ Minimal market penetration; ~2% of MA lives managed by value-based care physician enablers De
Slide 63: Appendix
Appendix
Slide 64: Proposed Transaction Overview
Proposed Transaction Overview P3 Health Partners entered into a definitive agreement to merge with Foresight Acquisition Corp. (FOREU) on May 25, 2021 • The transaction is expected to be funded through a combination of: 1 • FOREU’s $316M of cash in trust • And $209M of committed PIPE financing • Net
Slide 65: Pro Forma Capitalization and Ownership
Pro Forma Capitalization and Ownership 4 Estimated Transaction Sources And Uses ($M) Post-money Valuation At Close ($M) PF Transaction Sources ($M) Illustrative P3 share price $10.00 Existing P3 equity rollover $1,821 PF shares outstanding 242.3 1 Proceeds from Trust Account 316 Total PF equity valu
Slide 66: Historical Results
Historical Results $M 2018A 2019A 2020A 1H-21A At-Risk Membership 10,400 19,700 50,600 56,200 Capitated Revenue $86 $139 $472 $295 Other Revenue 1 7 14 8 Total Revenue $88 $146 $485 $303 Capitated % of Total Revenue 98% 95% 97% 97% Medical Cost 92 141 486 298 MCR % Cap. Revenue 107% 102% 103% 101% M
Slide 67: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation A ➢ Represents an add-back Year Ended December 31 Six Months Ended June 30 of non-cash charges related to fair-market ($s in thousands) 2019 2020 2020 2021 value estimates for Net income (loss) (42,917) (45,382) (15,353) (51,575) warrants attached to Company’s existing
Slide 68: Innovative, Patient-Centered And Physician-Led Care Delivery Model
Innovative, Patient-Centered And Physician-Led Care Delivery Model Clinical Ownership Physician Engagement Adoption of Best Clinical Practices Population Engagement Improved Lower Cost Clinical Experience Of Care Data Reporting Access Improved Improved Clinical Patient Outcomes Experience Health Pro
Slide 69: Direct Contracting Represents An Upside To Our Model
Direct Contracting Represents An Upside To Our Model 2023 – 2027 • CMS expanding Global-Risk contracting through DCEs to Traditional Medicare beneficiaries (Projected $488B total addressable market opportunity) • Opportunity to aggregate physicians and implement the P3 model Current Status Annual Me
Slide 70: Our Technology Suite Enables The Delivery Of High-Quality Care At Scale
Our Technology Suite Enables The Delivery Of High-Quality Care At Scale Inputs – Fragmented Technology Platform – Built For Purpose Value - Proven ✓ 250+ fragmented, ✓ Data-backed solutions and Multi-Layered Tech Stack Enables Our Effective Care Model And Quadruple Aim: Lower Cost of Care, Improved
Slide 71: P3 Health Partners
PS Health Partners People. Passion. Purpose. ’ ° T