![]() Right care. Right time. Right place . Investor Presentation May 2015 EXHIBIT 99.1 |
![]() Right care. Right time. Right place . Forward-looking Statements This presentation may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those described in this presentation. You should not rely on forward-looking statements as a prediction of future events. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Amedisys internet website http://www.amedisys.com or by contacting the Amedisys Investor Relations department at (225) 292-2031. We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law. www.amedisys.com NASDAQ: AMED We encourage everyone to visit the Investors Section of our website at www.amedisys.com, where we have posted additional important information such as press releases, profiles concerning our business and clinical operations and control processes, and SEC filings. We intend to use our website to expedite public access to time-critical information regarding the Company in advance of or in lieu of distributing a press release or a filing with the SEC disclosing the same information. 1 |
![]() Right care. Right time. Right place . Amedisys Snapshot Founded in 1982, publicly listed 1994 395 care centers in 34 states 13,000 employees 57,000 patients currently on census 2014 revenue of $1.2 billion 355,000 patients seen annually Over 7.5 million annual patient visits Amedisys Home Health Care Centers (316 locations) Amedisys Hospice Care Centers (79 locations) 2 Overview |
![]() Right care. Right time. Right place . ($ in millions, except per share data) 1Q14 2Q14 3Q14 4Q14 1Q15 Net Revenue $299 $305 $300 $301 $302 Gross Margin % 41.0% 43.4% 43.3% 43.0% 43.3% Total G&A Expenses 126 118 114 113 111 EBITDA $5 $22 $24 $23 $26 EBITDA Margin 1.8% 7.3% 7.9% 7.6% 8.7% EPS ($0.07) $0.25 $0.28 $0.27 $0.30 Summary Adjusted Financials – Quarterly 1 3 |
![]() Right care. Right time. Right place . Business Overview Business $ (in millions) / % of Revenue Revenue per Visit / Revenue per Day Gross Margin % Reimbursement Type Home Health Episodic $207 / 69% $160 46.1% 60-day episode of care Non-Medicare Per Visit $35 / 11% $110 21.6% Per visit Total Home Health $241 / 80% Hospice $60 / 20% $147 46.4% 98% routine care; daily rate Total $302 / 100% Based on 1Q15 financials. Gross margin computed by subtracting cost per visit from revenue per visit in home health and cost per day from hospice revenue per day 4 |
![]() Right care. Right time. Right place . Amedisys Vision 5 high margins Strengthen & grow the core Lead Industry consolidation Become employer of choice Outstanding clinical outcomes Extend the core Simplify Op Model Build Capacity Clinical Excellence Organic Growth Adjacent Growth Options Deliver superior patient outcomes using a simple, efficient, and clinically driven operating model to drive growth and lead in a consolidating industry Leading cost structure driving |
![]() Right care. Right time. Right place . Operating Platform Transition – HomeCare HomeBase • AMS3 testing resulted in significant operational disruption • Conducted third-party comparison of AMS3 to commercially available solutions • HomeCare HomeBase presents a compelling alternative to proprietary development at lower cost • Company-wide implementation targeted in 18-24 months • Anticipate $20 million in annual G&A savings after implementation and reduction in annual capital expenditures below $10 million beginning in 2016 6 |
![]() Right care. Right time. Right place . Strategic Plan – Moving to Execution Goals Improved Clinical Quality Movement to value-based reimbursement Continued margin expansion Operational streamlining and standardization Maximizing efficiency of field clinicians Leverage operational scale Growth Organic Increasing capacity Optimizing business development efforts Inorganic / M&A Near-term – tuck-ins Long-term – regional expansion and adjacencies 7 People Managed Care Processes and Workflow Business Development Amedisys Priorities IT Optimization Clinical Distinction and Protocols |
![]() Right care. Right time. Right place . Selective tuck-ins while platform and operating processes are being optimized More aggressive acquisitions once our cost structure provides us an advantage in the form of operating synergies Short Term: Tuck-in Focus Long Term: Strategic Accretive Acquisitions Expand our footprint strategically Counties in CON states Key referral partners (e.g., hospitals / hospital systems) Home care / hospice alignment Local density to enhance efficiency (e.g., scheduling) New geographies Scale to leverage investments M&A Strategy – Short and Long-Term 8 |
![]() Right care. Right time. Right place . Adjusted Cash Flow 2 9 ($ in Millions) 1Q14 2Q14 3Q14 4Q14 1Q15 Operating cash flow (4) 27 31 29 30 Changes in working capital (2) (3) (6) 11 (16) Operating cash flow, net (6) 24 25 40 14 Capital Expenditures (6) (4) (1) (2) (2) Required Debt Repayments (3) (3) (3) (3) (3) Free Cash Flow (15) 17 21 34 9 ($ in Millions) LTM Free Cash Flow 81 Required Debt Repayments 12 Other Sources 4 LTM Debt Reduction $97 |
![]() Right care. Right time. Right place . Balance Sheet Assets ($ in MM) 12/31/14 3/31/15 Cash $8 $3 Accounts Receivable, net 99 111 Property and Equipment 137 57 Goodwill 206 206 Deferred Tax Asset 125 147 Other 95 99 Total Assets 670 623 Liabilities and Equity Other Liabilities $155 $156 Long-Term Debt 118 100 Equity 397 367 Total Liabilities and Equity 670 623 Total Leverage Ratio 1.5x 1.1x Days Sales Outstanding 29 32 10 |
![]() Right care. Right time. Right place . ($ in millions) 1Q14 4Q14 1Q15 Net Revenue $237 $240 $241 Gross Margin % 39.5% 42.1% 42.6% Key Operating Statistics Same store Medicare revenue growth (7%) 4% 6% Same store non-Medicare revenue growth 1% 26% 20% Medicare recert rate 38% 37% 37% Cost per visit $90.28 $86.29 $86.33 Home Health Segment 1 11 |
![]() Right care. Right time. Right place . ($ in millions) 1Q14 4Q14 1Q15 Net Revenue $62 $61 $60 Gross Margin % 46.8% 46.4% 46.3% Key Operating Statistics Same store ADC growth (6%) (3%) 1% Same store admission growth (5%) 2% 7% Revenue per day $145.95 $147.16 $147.48 Cost per day $77.47 $78.62 $79.12 Hospice Segment 1 12 |
![]() Right care. Right time. Right place . Contact Information Ronnie LaBorde Vice Chairman and Chief Financial Officer ronnie.laborde@amedisys.com David Castille Managing Director, Finance david.castille@amedisys.com Amedisys, Inc. 5959 S. Sherwood Forest Blvd. Baton Rouge, LA 70816 Office: 225.292.2031 13 |
![]() Right care. Right time. Right place . Endnotes 1. The financial results for the three month periods ended March 31, 2014, June 30, 2014, September 30, 2014, December 31, 2014 and March 31, 2015 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non- GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Operating cash flow detailed in this schedule is adjusted for DOJ settlement payments made in 2Q14 ($115 million) and 4Q14 ($35 million). 14 |