Core Insights - American Oncology Network (AON) achieved annual revenue exceeding $2 billion for the 12 months ending June 30, 2025, reflecting over 40% growth compared to the previous year [1][2] - The provider network expanded to over 300 oncology and hematology specialists across 20 states, enhancing access to advanced treatments and diagnostics [2][4] Financial Performance - AON's revenue growth is attributed to both organic expansion and the addition of numerous practices and providers in new markets [2] - Partner practices experience an average increase of over 30% in sustainable income after joining AON [3] Network Expansion - AON added dozens of new practices and providers, continuing to grow its network [4] - The company is actively recruiting providers for 16 clinic locations and plans to welcome four new physicians next month [6] Treatment Innovations - More than 40 AON-affiliated clinics began offering bispecific T-cell engager (BiTE) therapies, expanding access to advanced immunotherapy [7] - AON broadened access to radioligand therapies (RLT) for certain metastatic and rare cancers [8] - AON launched a cloud-based laboratory information system to improve efficiency across its pathology and oncology labs [9] - AON co-created MiBA, an AI-enabled trial matching and patient navigation platform to enhance access to clinical trials [10] Value-Based Care Initiatives - AON achieved nearly $6 million in cost savings for CMS through the Enhancing Oncology Model (EOM) and partnered with a multi-state commercial value-based care organization, resulting in $2.7 million in cumulative savings [17] - AON implemented a social risk navigation platform, leading to a 39% improvement in social risk factors contributing to better health outcomes [17] Leadership and Vision - AON appointed several senior leaders in the first half of 2025 to support continued growth [13] - The company aims to amplify its national impact by advancing clinical innovation and strengthening partnerships [14] - AON is committed to ensuring personalized, high-quality care while reducing costs and improving outcomes [15]

Core Insights - Conway Hematology Oncology (CHO) has joined the American Oncology Network (AON), enhancing its ability to provide patient-focused services and expand clinical trial offerings [1][2][6] Company Overview - CHO has been a trusted provider of hematology and oncology care in Conway, Arkansas, since its founding in 1998 by Dr. Sue Tsuda [3][11] - The practice is recognized as the longest-running full-time cancer clinic in Faulkner County, Arkansas, and is dedicated to the physical and mental health of cancer patients and their families [11] Partnership Details - The partnership with AON allows CHO to broaden its services and bring advanced treatments to patients while maintaining high-quality, compassionate care [2][6] - AON is a rapidly expanding network representing over 300 providers across 20 states, focusing on community oncology and innovative healthcare solutions [10] Leadership and Expertise - Dr. Sue Tsuda, co-founder of CHO, is a board-certified medical oncologist and hematologist with extensive training and experience in the field [3] - The team at CHO includes board-certified nurse practitioners Christine Lightfoot and Courtney Nash, both of whom have been providing care in Arkansas for several years [4][5] Commitment to Care - CHO offers comprehensive community-based oncology services, including the latest diagnostic and treatment technologies, private exam rooms, an onsite laboratory, and infusion suites designed for patient comfort [6][11] - AON's mission aligns with CHO's commitment to personalized, high-quality care in a community setting, aiming to improve cancer care accessibility [7][10]

Core Viewpoint - The Oncology Institute, Inc. (TOI) will release its second quarter 2025 financial results on August 13, 2025, followed by a conference call to discuss the results [1]. Financial Results Announcement - TOI will announce its second quarter 2025 financial results after market close on August 13, 2025 [1]. - A conference call will take place on the same day at 5:00 p.m. Eastern Time [1]. Conference Call Access - The conference call can be accessed by phone at 1-877-407-0789 for domestic callers and 1-201-689-8562 for international callers [2]. - A replay of the call will be available two hours after it concludes, accessible at 1-844-512-2921 for domestic and 1-412-317-6671 for international callers, with a passcode of 13754165 [2]. - The replay will be available until August 20, 2025 [2]. Webcast Information - Interested parties can also listen to a simultaneous webcast of the conference call via the Investor Relations section of TOI's website [3]. Company Overview - Founded in 2007, TOI specializes in value-based cancer care, serving over 1.8 million patients [4]. - The company employs over 120 clinicians and has more than 700 staff across over 70 clinic locations [4]. - TOI provides advanced cancer care services, including clinical trials and transfusions, aimed at improving oncology care delivery [4].

Company Overview - Florida Oncology and Hematology has expanded its Fort Myers clinic to include radiology services, enhancing cancer care for the Lee County community [1][3] - The practice operates five clinics in the region, providing personalized care plans tailored to individual patient needs [3][8] - Florida Oncology and Hematology is a partner of American Oncology Network (AON), which is one of the fastest-growing community oncology networks in the United States [4][7] Services Offered - The expanded clinic now offers PET services, 12 exam rooms for consultations, nearly 30 infusion chairs, and an on-site lab [2] - The addition of PET services allows for diagnostic PET and CT imaging, as well as innovative Radioligand Therapy for treating various cancers [5] - AON provides access to expanded services such as an in-house specialty pharmacy for home delivery of select medications [4][7] Commitment to Care - The medical director emphasizes the importance of delivering compassionate, high-quality care in a comprehensive and comfortable setting [3] - AON is committed to promoting health equity and addressing disparities in cancer care, ensuring all patients have access to necessary treatments [7] - The practice focuses on providing high-quality, affordable care in a supportive and accessible environment [3][8]

Core Insights - Concord Healthcare Group Co., Ltd. has successfully completed the first proton therapy treatment in China for a patient with choroidal malignant melanoma, marking a significant advancement in oncology care in the country [1][3]. Company Overview - Concord Medical Services Holdings Limited is a healthcare provider specializing in a full cycle of premium oncology services, including cancer diagnosis, treatment, education, and prevention [5]. - The company focuses on multidisciplinary cancer care and aims to improve the quality and accessibility of cancer treatment through its network of self-owned and partnered hospitals across China [5][6]. Treatment Innovation - The Guangzhou Concord Cancer Center employs advanced pencil beam scanning proton therapy combined with a real-time image guidance system, allowing for high-dose and precise irradiation while protecting surrounding healthy tissues [3]. - This innovative treatment option provides an eye-preserving alternative to traditional enucleation, which can lead to permanent blindness and other complications [2][3]. Market Position - As the first medical institution in China to offer proton therapy for choroidal malignant melanoma, Guangzhou Concord Cancer Center fills a critical gap in the oncology treatment landscape [3].

Company Overview - The Oncology Institute, Inc. (TOI) is one of the largest value-based oncology groups in the United States, founded in 2007, and focuses on delivering specialized cancer care in community settings [4] - TOI serves over 1.8 million patients and employs over 120 clinicians with more than 700 teammates across over 70 clinic locations [4] Leadership Change - Kristin England has joined TOI as Chief Administrative Officer (CAO), effective July 7, 2025, in a newly established role overseeing Enterprise Central Business Operations and Technology Strategy [1][3] - England has over two decades of experience in healthcare management, previously serving as a senior executive at McKesson's US Oncology Network, where she optimized revenue cycle performance and practice management systems [2] Strategic Importance - The CEO of TOI, Daniel Virnich, emphasized the importance of England's operational excellence and experience in driving sustainable growth and efficiency as TOI scales its MSO model and commits to value-based care [3] - England expressed her enthusiasm for joining TOI during a transformative period and her commitment to advancing the company's strategic priorities through operational excellence [3]

Core Insights - The Oncology Institute, Inc. (TOI) has become the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada, effective July 1 [1][2] - This partnership aims to enhance access to high-quality cancer care for Medicaid patients in the Las Vegas area [2] Company Overview - TOI, founded in 2007, specializes in value-based cancer care and serves over 1.8 million patients, offering services such as clinical trials and transfusions [4] - The organization employs over 120 clinicians and has more than 700 staff across 70 clinic locations [4] Patient Access - SilverSummit Healthplan members can access TOI's cancer care at three locations in Nevada: Las Vegas, Henderson, and Spring Valley [3] - The Las Vegas location operates Monday to Friday from 8:30 am to 5:00 pm, while the Spring Valley location has specific hours on certain days [3] Strategic Partnership - The partnership between TOI and SilverSummit Healthplan is focused on improving access and quality of cancer care for Medicaid patients [2] - SilverSummit Healthplan emphasizes its commitment to providing high-quality care, particularly for members facing cancer diagnoses [2][5]

Group 1 - The Oncology Institute, Inc. (TOI) will be included in the Russell 2000® and Russell 3000® indexes after the 2025 annual reconstitution, effective June 27, 2025 [1][2] - Membership in the Russell 3000® Index is based on market capitalization rankings and remains for one year, which also ensures inclusion in the Russell 1000 Index or Russell 2000 Index [2] - The CEO of TOI expressed that this inclusion is a significant milestone reflecting the company's growth and commitment to value-based cancer care [3] Group 2 - The Russell indexes are utilized by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against them as of June 2024 [3] - TOI provides specialized, value-based cancer care to over 1.8 million patients, with a workforce of over 120 clinicians and more than 700 staff across 70 clinic locations [5]

Company Overview - American Oncology Network (AON) is one of the fastest-growing community oncology networks in the United States, founded in 2018, representing over 290 providers across 21 states [6][7] - AON focuses on innovative healthcare solutions through a physician-led model, promoting value-based care that improves patient outcomes while reducing costs [7] Leadership Appointment - Joe Verschleiser has been appointed as the chief growth and performance officer of AON, bringing over a decade of experience in healthcare, including roles in operations, financial strategy, and mergers and acquisitions [2][3] - His previous role was president of the West Division at Unified Women's Healthcare, where he managed strategy and operations for over 200 physicians [3] Strategic Focus - In his new role, Verschleiser will lead growth strategy and performance optimization for AON partner practices, focusing on expansion and new business line opportunities [2] - AON aims to strengthen its national presence and support the long-term success of its partner practices through strategic initiatives [2][4] Commitment to Quality Care - AON is dedicated to expanding access to high-quality, affordable cancer care and addressing disparities in cancer care to promote health equity [4][7] - The organization provides comprehensive support and integrated services to enable physicians to focus on delivering the highest standard of care [7]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 increased by 10% year-over-year, reaching $104.4 million [5][13] - Gross profit for Q1 2025 was $17.2 million, representing a 44.1% increase compared to Q1 2024 [9][14] - Adjusted EBITDA loss was $5.1 million, an improvement from a loss of $10.9 million in Q1 2024 [16] - Free cash flow was negative $3.9 million, an improvement from negative $15.4 million in Q1 2024 [17] Business Line Data and Key Metrics Changes - The Retail Pharmacy and Dispensary business generated $49.3 million in revenue, growing over 20% year-over-year [6] - Fee-for-service revenue grew by 2.3% year-over-year to $35.6 million [13] - The capitation business saw a slight decline of 1% year-over-year [28] Market Data and Key Metrics Changes - The company added over 80,000 lives under new capitation contracts in Q1 2025, with projections for an additional 100,000 lives in Q2 and Q3 [6][9] - The company signed a new capitation contract in Nevada, adding over 80,000 Medicaid lives effective July 1 [6] Company Strategy and Development Direction - The company aims for profitability and positive cash flow by the end of 2025, focusing on operational management and strategic market expansion [5][22] - A new Chief Clinical Officer has been appointed to enhance capabilities in therapeutics and utilization management [10][11] - The company is outsourcing its clinical trials program to Helios Clinical Trials, which will impact revenue recognition but is expected to enhance growth [9][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted EBITDA in Q4 2025, supported by growth in the dispensary segment and new contracts [19][22] - The company is closely monitoring potential impacts from tariffs and drug pricing regulations but does not currently anticipate negative effects [20][21] Other Important Information - SG&A expenses decreased by 9% year-over-year, reflecting improved efficiency [16] - The company successfully executed a partial paydown of $20 million in convertible preferred debt [10] Q&A Session Summary Question: What drove the gross profit growth of 44% year-over-year? - The growth was attributed to a one-time rebate from a new contract with the primary distributor and favorable drug pricing changes [25][26] Question: Can you discuss the fee-for-service revenue growth? - Fee-for-service revenue grew by 2% year-over-year, with a robust pipeline for new contracts expected to contribute to future growth [29][35] Question: What are the expectations for SG&A savings in 2025? - The company aims to keep SG&A roughly flat for 2025 while seeking efficiencies through vendor and labor management [31] Question: Are there any significant contract renewals coming up? - There are no significant renewals expected in the near future, as most relationships are multi-year and auto-renew [54] Question: How does the trend of delivering cancer care at home align with the company's business? - The company views the trend positively and is exploring innovative ways to deliver therapeutics in the home setting [58]