Uphealth, Inc. · OTC:UPHL
Uphealth — SPAC Merger (November 2020)
48 slides from Uphealth's SPAC merger presentation, November 2020
Slide 1: UpHealth Investor Presentation
UpHealth Investor Presentation November 2020
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 (continued)
Disclaimer (continued) Important Information And Where To Find It In connection with the Proposed Business Combination, GigCapital2 intends to file a registration statement on Form S-4, including a proxy statement/prospectus (the “Registration Statement”), with the Securities and Exchange Commission
Slide 4: Overview of GigCapital2
Overview of GigCapital2 GigCapital2, Inc. Overview GigCapital2 Leadership Team ▪ GigCapital2, Inc. (NYSE: GIX) is a $174M publicly traded Special Purpose Acquisition Company (“SPAC”) / Private-to-Public-Equity (“PPE”) ▪ Executive Chairman and Founding Managing Partner of GigCapital Global and all it
Slide 5: Presenters
Presenters Dr. Chirinjeev Kathuria Ramesh Balakrishnan Al Gatmaitan, DSc, FACHE Co-Chairman & Co-Founder Co-Chief Executive Officer Co-Chief Executive Officer Mariya Pylypiv, Ph.D. Martin Beck Vice Chairwoman, Co-Founder Chief Financial Officer & Chief Strategy Officer 5
Slide 6: Vision
Vision
Slide 7: UpHealth: Reshaping Healthcare Across the Continuum of Care
UpHealth: Reshaping Healthcare Across the Continuum of Care Create a single, integrated provider of best-in-class technologies and services essential to personalized, affordable and effective care Multifaceted integrated approach to processes, services and technologies Integrated Care Global Telehea
Slide 8: Powering Healthcare's Digital Transformation
Powering Healthcare’s Digital Transformation Enabling healthier communities Integrated Care Management Simplified digital front door, connecting evidence-based care, workflows and services Global Telehealth Digital Pharmacy Behavioral Health Transforming care delivery 8
Slide 9: UpHealth at a Glance: A Unified Global Digital Health Platform
UpHealth at a Glance: A Unified Global Digital Health Platform 2020E Revenue Platform Patient-centric digital health technologies and tech-enabled services Business Lines to manage health and integrate care $115M Delivering four capabilities at the center of population 2020E EBITDA Margin health man
Slide 10: Investment Highlights
Investment Highlights Integrated Global Health Platform Addressing Massive Markets and Critical Needs Proven Solutions with Significant Contracted Growth Across US and International Markets Bookings Provide Exceptional Visibility into Accelerating Topline Growth & Profitability Opportunities to Driv
Slide 11: Opportunity
Opportunity
Slide 12: UpHealth Addresses Critical Needs in Healthcare Delivery
UpHealth Addresses Critical Needs in Healthcare Delivery Challenges Facing Healthcare Aging Population Meeting Patients Anywhere 46M adults 65+ in the U.S., expected to grow by 18M Enabling a critical shift in care setting from the within 10 years(1) clinic office to the home Rising Chronic Illness
Slide 13: COVID Accelerated 10 Years of Digital Health Progress in 3 Months
COVID Accelerated 10 Years of Digital Health Progress in 3 Months COVID-19 has accelerated the digital transformation of healthcare to engage displaced patient populations Immediate COVID-19 impact on health systems Long-term impact of psychic trauma, mental illness, alcohol and substance abuse Impa
Slide 14: UpHealth at the Nexus of Multiple Global Growth Markets
UpHealth at the Nexus of Multiple Global Growth Markets Global Telehealth $710B Total annual $61B Medicare spend on Global market in 2019(1) chronic diseases(4) Integrated Care Behavioral Management Health $500B $100B Additional U.S. Behavioral U.S. Drug Prescription Health Spend in 2020 and Market(
Slide 15: An Emerging Growth Leader in the Fastest Growing Markets
An Emerging Growth Leader in the Fastest Growing Markets Integrated Care Management Global Telehealth Digital Pharmacy Behavioral Health $61B 1 in 5 Americans 117M adults growing at 25.2% CAGR through 20272 $500B4 have behavioral health disorders3 one or more chronic conditions1 $250B 10x eRx increa
Slide 16: Guiding an Integrated, Coordinated & Personalized Care Experience
Guiding an Integrated, Coordinated & Personalized Care Experience Integrated & Coordinated Care Teams Proactive, Connected & Data-Driven Personalized & Guided Cumbersome & Complex Care Experience Single Encounter Inaccessible, Inefficient, Frictionless, Engaging & Poor Experience Easy to use Current
Slide 17: Integration Roadmap Codifies Long-Term Vision, Upside
Integration Roadmap Codifies Long-Term Vision, Upside UpHealth will drive extensive topline growth across the platform through new contracts, expanded capabilities, integrations and cross-sell opportunities Q3 – Q4 2022 • Predictive Analytics • ML & AI for chronic care Q1 – Q2 2022 management and ps
Slide 18: A Digital Front Door Enabling The Continuum of Care
A Digital Front Door Enabling The Continuum of Care Tele-interpretation Tele-psychiatry Services, Powered by Capabilities, Cloudbreak Powered by Transformations Integrated Full Service ePharmacy Capabilities, Tele-stroke Services, Powered by MedQuest Powered by Cloudbreak Provider Integrated Care Au
Slide 19: Platform
Platform
Slide 20: Delivering Market Leading Solutions Across Four Capabilities
Delivering Market Leading Solutions Across Four Capabilities Integrated Care Global Telehealth Digital Pharmacy Behavioral Health Management Global provider of virtual Full-service online pharmacy Behavioral & substance abuse Extensible population health and consultations and local care offering ret
Slide 21: Integrated Care Management Platform
Integrated Care Management Platform Model of Care Integrated Plan / Provider Networks Health Funding syntranet™ Public funding Premiums / Core Platform membership Payments for outcomes, quality, performance Platform for heath plans, health systems, government agencies and community organizations to
Slide 22: Global Telehealth – Domestic
Global Telehealth – Domestic Unified Telemedicine Across the Care Continuum Improving Access Caring for patient when they Surrounds patients with their clinical need it and where they are most care team on a single call comfortable Any Device | Any Language | Anywhere Interoperable w/ leading EMR’s
Slide 23: Global Telehealth - International
Global Telehealth - International Geographic Footprint Products Digital dispensary to deliver healthcare safely in hard to reach locations Virtual on-demand clinic for identifying patients and automated TeleCRM Clinical decision support system for differential diagnosis, investigation, treatment pro
Slide 24: Digital Pharmacy
Digital Pharmacy Digital Pharmacy At a Glance ▪ A full-service retail pharmacy, licensed in all 50 states ▪ Delivery of compounded and manufactured prescriptions ▪ Operates a 40,000 square foot facility with the ability to expand another 40,000 square feet at the same location ▪ eMedplus system cert
Slide 25: Tech-Enabled Behavioral Health
Tech-Enabled Behavioral Health Masters-level therapists and low Mental Health Segment At a Glance ratios of clients ▪ Acute and chronic / specialized outpatient behavioral health ▪ Mission is to improve the mental health and well-being of Holistic treatment & patients who are impacted by mental illn
Slide 26: Delivering Value to Patients, Providers & Payors
Delivering Value to Patients, Providers & Payors UpHealth will serve as a single source for services and technologies essential to the delivery of affordable and effective care Platform Offerings Value Delivered Award-winning design blending Delivering access to care across Patients on-site, at-home
Slide 27: Extensive Reach Across Major Health Systems & Payors Globally
Extensive Reach Across Major Health Systems & Payors Globally UpHealth’s digital health services are currently utilized globally across the continuum of care and touch over 1,800 healthcare venues in the US and beyond Academic Specialty Community Payor / Gov’t / Other 27
Slide 28: A US-Based Business with a Global Footprint
A US-Based Business with a Global Footprint UpHealth’s platform will be comprised of a global network of patients, providers and payors, addressing complex care challenges in developed and developing markets 4 3 1 2 4 4 2 National Digital Pharmacy Integrated Care Management Regional 1 North Salt Lak
Slide 29: Financials
Financials
Slide 30: Financial Highlights
Financial Highlights Strategically Selected Digital Health Capabilities Addressing a Global Market Need A Unified Platform Streamlining the Delivery of Effective, Affordable Care Near-Term Projections Diversified revenue base and unique positioning in the market 1 Profitable with pro forma $115M rev
Slide 31: Combination of Predictable Growth & Profitability
Combination of Predictable Growth & Profitability Year-over-Year Growth % EBITDA Margin % 69% 78% 12% 12% 20% $346M 74% CAGR 127% $69M CAGR $194M $115M $24M $13M 2020E 2021E 2022E 2020E 2021E 2022E 16% 24% 23% Global Telehealth 31% 2020E Integrated Care Management 2020E Revenue by EBITDA by Business
Slide 32: 2021 Revenue Bridge
2021 Revenue Bridge $10 $194 $9 $14 $47 By Business Unit $115 2020E Global Telehealth Integrated Care Digital Pharmacy Behavioral Health 2021E Management $19 $194 $19 $6 $36 $115 By Growth Category Notes: 2020E Contracted Services & Contracted Volume- Product Expansion Additional Organic 2021E The U
Slide 33: Visibility Into Near-Term Incremental Revenue Growth
Visibility Into Near-Term Incremental Revenue Growth UpHealth has extensive visibility into accelerating near-term growth, $55M of which is contracted in 2021, representing 69% of the Company’s 2021 projected growth $12M $15M $8M Global Integrated Care Telehealth Management Expansion & New $47M $8M
Slide 34: Team
Team
Slide 35: UpHealth Executive Leadership Team
UpHealth Executive Leadership Team Dr. Chirinjeev Kathuria Dr. Avi Katz Co-Chairman & Co-Founder Co-Chairman Al Gatmaitan, DSc, FACHE Ramesh Balakrishnan Syed Sabahat Azim, MD Mariya Pylypiv, Ph.D. Jamey Edwards Co-Chief Executive Officer & Co-Chief Executive Officer Chief Executive Officer, Vice Ch
Slide 36: UpHealth Executive Leadership Team
UpHealth Executive Leadership Team Dr. Chirinjeev Kathuria Al Gatmaitan, DSc, FACHE Ramesh Balakrishnan Martin Beck Co-Chairman & Co-Founder Co-Chief Executive Officer & Co-Chief Executive Officer, Chief Financial Officer President, UpHealth UpHealth Dr. Chirinjeev Kathuria is an Dr. Gatmaitan is an
Slide 37: UpHealth Executive Leadership Team (continued)
UpHealth Executive Leadership Team (continued) Mariya Pylypiv, Ph.D. Jamey Edwards Syed Sabahat Azim, MD Jeffery Bray Vice Chairwoman, Co-Founder & Chief Operating Officer Chief Executive Officer, Chief of Legislative & Regulatory Chief Strategy Officer International Affairs Dr. Pylypiv is co-founde
Slide 38: UpHealth Executive Leadership Team (continued)
UpHealth Executive Leadership Team (continued) Bobby Kathuria, MD Nashina Asaria Azfar Malik, MD, MBA, DFAPA Acting Chief Medical Officer Chief Product & Marketing Officer President, Behavioral Health Dr. Kathuria is an entrepreneur Ms. Asaria will be the Chief Dr. Malik is a President of and licens
Slide 39: Organizational Chart
Organizational Chart Board of Directors Dr. Chirinjeev Kathuria Dr. Avi Katz Co-Chairman Co-Chairman Inside Board Member Independent Board Member Inside Board Member Independent Board Member Independent Board Member Independent Board Member Independent Board Member Ramesh Al Gatmaitan Balakrishnan C
Slide 40: Valuation
Valuation
Slide 41: Financial Benchmarking to Peers
Financial Benchmarking to Peers (1) (1)(2) Peer Group Mean 99.9% 69.3% 2021E Revenue 49.3% 45.2% 40.3% 39.9% Growth(3) 38.0% 35.2% 30.2% 30.0% 20.3% 10.6% 31.4% 12.4% 11.5% 6.6% 0.5% 2021E EBITDA (2.5%) (2.9%) (3.6%) (5.1%) Margin(3) (6.5%) (16.2%) (45.0%) Notes: Sources: Company filings, Bloomberg
Slide 42: Valuation Benchmarking to Peers
Valuation Benchmarking to Peers (1) Peer Group Mean 20.6x 19.6x 19.1x 2021E 12.0x Revenue Multiple 9.8x 9.7x 9.6x 9.0x 8.9x 6.9x 6.8x 6.5x UpHealth (66%) (65%) (64%) (29%) (28%) (28%) (23%) (22%) 2% 6% (42%) discount to peers Notes: Sources: Company filings, Bloomberg estimates and values as of mark
Slide 43: UpHealth Has Enormous Near-term Potential to Trade Up
UpHealth Has Enormous Near-term Potential to Trade Up $29.5B $15.2B $13.4B Enterprise $11.9B Value 12.0x $5.2B $4.6B Mean EV / ’21E Revenue ~1.6x $2.3B $1.6B $1.5B $1.1B $1.4B $0.7B Peer Group Mean Valuations: Now vs. IPO(1) $8.5B 12.0x ~1.7x ~2.7x 7.2x $3.2B At IPO Current At IPO Current EV / Reven
Slide 44: Transaction
Transaction
Slide 45: Transaction Summary
Transaction Summary Estimated Transaction Sources & Uses Pro Forma Enterprise Valuation at Close ($ in millions) ($ in millions) Sources(1) PF Transaction GigCapital2 Cash in Trust $174.3 Total Equity Value $1,456.4 PIPE Investment Proceeds $125.0 (–) Assumed Pro Forma Net Cash(2) ($105.5) Seller Ro
Slide 46: Summary
Summary
Slide 47: UpHealth Concluding Thoughts
UpHealth Concluding Thoughts 1 An Integrated Global Platform Serving Four Massive Digital Health Markets 2 A Rare Financial Profile with Exceptional Visibility into Future Growth 3 Substantial Opportunity to Drive Untapped Organic and Synergistic Value An Executive Team with Demonstrated Operational
Slide 48: For More Information
For More Information: GigCapital2 - www.gigcapital2.com UpHealth, Inc. - www.uphealthinc.com For GigCapital2 Information, Contact: Jordan M. Darrow Darrow Associates ir@gigcapital2.com For UpHealth & Cloudbreak Information, Contact: Investor Relations: Constantine Davides - constantine.davides@westw