Financial Data and Key Metrics Changes - Revenue growth of 16% year-over-year in the first quarter, with mid-teens growth in Acute Therapies and high-teens growth in Chronic Therapies [5][14] - Adjusted EBITDA of $111.8 million grew 13.7% year-over-year, representing 8.4% of net revenue [16] - Adjusted earnings per share of $0.40 grew 14.3% year-over-year [16] Business Line Data and Key Metrics Changes - Acute Therapies experienced mid-teens growth, attributed to improved IV bag supply and market dynamics [5][14] - Chronic Therapies showed high-teens growth, particularly in rare and orphan therapies [5][15] - Gross profit of $263 million grew over 10% compared to the first quarter last year, benefiting from the therapy mix [15] Market Data and Key Metrics Changes - The company continues to deepen partnerships with health plans, addressing increased medical loss ratios and higher utilization of care [8][47] - The company is actively working with innovative health plans to support site of care initiatives, aiming to reduce total cost of care [8][47] Company Strategy and Development Direction - The company is focused on building a unique care model to support patient needs, with significant investments in technology and nursing capabilities [5][9] - Continued investment in advanced technology, including robotic process automation and AI, to improve operational efficiency [9][10] - The acquisition of Intramed Plus is expected to enhance the company's infusion clinic footprint and operational performance [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the first quarter results and the company's ability to navigate macroeconomic uncertainties, including potential tariff impacts [12][14] - The lower end of the full-year adjusted EBITDA guidance was increased due to strong first-quarter performance, while the top end remains unchanged due to market uncertainty [14][18] Other Important Information - The company repurchased $100 million of stock during the quarter, reflecting confidence in its balance sheet [11][17] - The company spends approximately $100 million on medical supplies, with less than 10% sourced from China, mitigating potential tariff impacts [95][96] Q&A Session Summary Question: Concerns about underlying fundamentals for the rest of the year - Management indicated a cautious approach, emphasizing the need to monitor market dynamics and not extrapolate first-quarter results too aggressively [20][22] Question: Impact of MAPD changes on chronic business - Management noted that while acute growth was strong, they expect some benefits from changes in out-of-pocket costs for chronic therapies in the latter half of the year [25][26] Question: Mechanics of tariff impacts on pricing - Management explained that while tariffs could increase drug prices, their procurement contracts provide some flexibility to manage costs [30][31] Question: Changes in payer conversations regarding infusion benefits - Management highlighted that they are increasingly seen as a valuable partner in managing total cost of care, with a focus on transitioning patients from hospitals [45][47] Question: Acquisition strategy amidst economic uncertainty - Management remains active in pursuing acquisitions, focusing on smaller, complementary deals while being cautious due to the macro environment [99][100]