PresentationLadies and gentlemen, the program is about to begin. At this time, it is my pleasure to turn the program over to your host, Joanna Gajuk. Thank you.Joanna GajukBofA Securities, Research Division Thank you. Thanks, everyone, for joining us. Again, welcome to the -- to our Fifth Annual Home Care Conference. And now it's my pleasure to have this session with Option Care, I think, the largest -- one of the largest home infusion providers in the U.S. And today with us, we have Meenal Sethna, who's th ...

Summary of Option Care Health (OPCH) Conference Call Company Overview - **Company**: Option Care Health (OPCH) - **Industry**: Home Infusion Services - **Event**: 2025 Conference on May 13, 2025 Key Points Strong Performance and Growth Expectations - The company reported a strong first quarter, exceeding internal performance measures despite challenges such as bag shortages and competitive exits [2][3] - Excluding the impact of Stelara, the company anticipates approximately 20% EBITDA growth for the year [4][6] Drivers of Growth - Growth is expected to come from acute therapies and capitalizing on competitive exits in the market [6][7] - The company is seeing growth not only in exit markets but also in other areas due to reliable partnerships with hospitals and health systems [7][8] - The focus on high-quality care at lower costs positions the company favorably with payers, especially in managing total care costs [9][10] Managed Care Relationships - The company is actively engaging with managed care plans to facilitate patient transitions from higher-cost inpatient settings to home or infusion suites [9][10] - There is an increasing interest from payers in utilizing home infusion services to manage costs effectively [13] Investment in Infrastructure - Annual capital expenditures range from $30 million to $40 million, focusing on expanding pharmacy infrastructure and infusion suite capabilities [15][16] - The company operates over 750 infusion chairs across the U.S. and is investing in advanced care practitioner models to manage more complex patients [16][17] Therapeutic Focus - The company is expanding into areas such as oncology and complex conditions like Alzheimer's, leveraging advanced practitioner models [19][20] - There is a focus on rare and orphan products, with ongoing efforts to partner with manufacturers for new product launches [24][25] Biosimilars and Market Dynamics - The company is preparing for the impact of biosimilars entering the market, particularly concerning Stelara, but emphasizes that most patients served require intravenous administration rather than self-injection [27][28] - The company retains a majority of its Stelara patients, and while profitability is affected, it remains a viable therapy [29] Executive Order and Drug Pricing - The recent executive order aimed at reducing drug costs presents uncertainties, but the company is monitoring its potential impacts on pricing and reimbursement [36][37] - The company operates with a diverse pricing strategy, with less than 50% of revenue tied to contracts based on average selling price (ASP) [38][39] Free Cash Flow and Capital Deployment - The company generated over $250 million in free cash flow last year and expects to maintain similar levels this year [49][50] - Capital deployment strategies include mergers and acquisitions, as well as share repurchases, with significant investments made in both areas recently [51][52] Conclusion - Option Care Health is well-positioned for continued growth through strategic investments, strong managed care relationships, and a focus on high-quality, cost-effective care solutions. The company is actively navigating market dynamics, including the introduction of biosimilars and regulatory changes, while maintaining a robust capital deployment strategy.