Company Overview - Guardian Pharmacy Services was founded in 2004 by Fred Burke, David Morris, and Kendall Forbes, who have extensive experience in building and scaling healthcare services businesses, including a previous nuclear pharmacy platform that was sold [4]. Leadership Team - The leadership team includes Fred Burke as President and CEO, David Morris as Chief Financial Officer, and Ashley Stockton as Senior Director of Investor Relations [2][4]. Presentation Context - The presentation is part of a moderated Q&A session, indicating an interactive approach to discussing the company's future and financial outlook [1].

Guardian Pharmacy Services FY Conference Summary Company Overview - **Company**: Guardian Pharmacy Services (NYSE: GRDN) - **Founded**: 2004 - **Focus**: Long-term care pharmacy services, primarily for assisted living facilities (ALFs) - **Market Position**: Leader in the ALF market, which is the fastest-growing segment of the long-term care industry, supported by strong demographic trends [3][4] Industry Insights - **Market Size**: Approximately $7 billion in drug spend with 1 million residents in ALFs [8] - **Competitive Landscape**: Highly fragmented with many independent pharmacies as key competitors; Guardian holds a 13% market share nationally [9][10] - **Challenges**: ALFs lack dedicated medical staff for medication management, leading to complex drug regimens for residents [3][4] Business Model and Strategy - **Core Pillars**: 1. Multi-pronged growth strategy leveraging organic growth and M&A [4] 2. National scale enhancing profitability through data analytics [5] 3. Reinvestment in services and technology for competitive advantages [5] 4. Strong financial performance with a healthy balance sheet and virtually zero debt [5] 5. Experienced management team with significant ownership aligning with shareholders [6] Growth Strategy - **Organic Growth**: Focus on onboarding new ALFs and increasing adoption rates within existing facilities [11] - **M&A Strategy**: Targeting independent pharmacy operators with revenues of $10-30 million, aiming for collaborative growth [12][14] - **Integration Focus**: Enhancing operations through reimbursement management, margin tools, and purchasing platforms post-acquisition [13] Financial Performance - **CAGR**: Approximately 16% from 2012 to 2025 [18] - **Adjusted EBITDA**: Expected growth from $105 million in 2025 to $116.5 million in 2026, with margins projected to exceed 8% [22] - **Cash Flow**: Average cash conversion rate of approximately 60% after CapEx and tax payments [19] Regulatory Impact - **Inflation Reduction Act (IRA)**: Expected to impact margins by requiring sales of branded drugs at the manufacturer's fair price, necessitating coordination with payors to offset losses [20][21] Future Outlook - **2026 Guidance**: Revenue projected between $1.4 billion and $1.42 billion, with adjusted EBITDA between $115 million and $118 million [22] - **Market Opportunities**: Potential for significant growth given the 87% market share still available; focus on geographic expansion through M&A and greenfield startups [36][38] Competitive Advantages - **Data Analytics**: Proprietary platforms (Guardian Compass and Guardian Shield) used to optimize pharmacy operations and demonstrate value to partners [16][17] - **Cost Savings**: Over $41 million saved for residents through proper formulary management [17] Key Takeaways - **Employee Engagement**: Going public has enhanced employee motivation and belief in the company's growth potential [24][25] - **Underappreciated Aspects**: The importance of data analytics and operational support in improving clinical outcomes and profitability is still being communicated to investors [39][40] This summary encapsulates the key points from the Guardian Pharmacy Services FY Conference, highlighting the company's strategic positioning, growth opportunities, and financial outlook within the long-term care pharmacy industry.

Business Overview - Guardian Pharmacy Services focuses on the Assisted Living Facilities (ALF) market, which is estimated to be around $7 billion[14] - The company has a 13% market share nationwide in the ALF & Memory Care market[22, 23] - Guardian serves approximately 140,000+ ALF residents and 204,000+ total residents[22] - The company dispenses approximately 28 million prescriptions annually[22] Financial Performance - The company's revenue for 2025 is projected to be $1.44 billion[60, 84] - Adjusted EBITDA for 2025 is projected to be $104-$106 million[81] - The company anticipates an Adjusted EBITDA margin of over 8% in 2026[81] - The company's cash conversion rate is approximately 60% year-to-date as of September 30, 2025[69, 70] Growth Strategy - The company is expanding into adjacent and new underserved markets through greenfield startups[37] - The company is targeting acquisitions with revenues between $10 million and $30 million, serving approximately 2,000 to 3,500 residents[42] - The company is implementing initiatives to mitigate the impact of the Inflation Reduction Act (IRA)[76]

Core Insights - Avricore Health Inc. is expanding its HealthTab™ platform across North East London, adding 70 community pharmacy sites, building on successful NHS-linked cardiovascular programs with Barts Health NHS Trust [1][2] Company Strategy - The deployment reflects strong pharmacy engagement and increasing clinical demand, aligning with NHS priorities to shift care from hospitals to community settings [2][4] - Avricore's strategic focus on the UK demonstrates the scalability of HealthTab™ within complex NHS environments, positioning it for further growth in preventive and treatment-linked care pathways across England [4] HealthTab™ Platform - HealthTab™ is a comprehensive solution for community-based point-of-care testing (POCT) networks, integrating instruments, cloud software, standardized workflows, and training [5] - The platform ensures quality-assured testing and real-time analytics for public health reporting, reducing implementation complexity for participating sites [6] Quality Assurance - HealthTab™ meets high standards of analytical performance through a partnership with CEQAL Inc., ensuring a comprehensive quality management program [7] - The program includes centralized monitoring of reagents, internal quality-control procedures, and regular external quality-assessment events to support accuracy and consistency [8] Company Overview - Avricore Health Inc. focuses on acquiring and developing early-stage technologies to advance pharmacy practice and patient care, aiming to create the largest network of rapid testing devices in community pharmacies [9]

Group 1 - CVS Health Corporation is recognized as one of the 14 Best Pharma Dividend Stocks to Buy in 2026 [1] - Bernstein raised the price target for CVS to $87 from $86, maintaining a Market Perform rating, citing increased confidence in management and market leadership [2] - CVS raised its 2025 profit forecast, indicating progress in its turnaround plan and a focus on enhancing consumer experiences [3] Group 2 - The company launched a new consumer app aimed at integrating services and creating new revenue opportunities, following significant changes including cost-cutting and market exits [4] - CVS forecasts total revenue of at least $400 billion for 2026, which is below the analyst expectation of $419.26 billion, with growth anticipated from Aetna and CVS Caremark [5] - CVS operates as a diversified healthcare company with services in pharmacy, retail health, and long-term care [5]

Company Participation - Guardian Pharmacy Services, Inc. will participate in the 44th Annual J.P. Morgan Healthcare Conference in San Francisco, CA [1] - The company's leadership team will host investor meetings on January 14 and present at 4:30 p.m. PT on the same day [1] - A live audio webcast of the session will be available, with a replay accessible for 30 days after the event [1] Company Overview - Guardian Pharmacy Services is one of the leading long-term care pharmacy services companies in the nation [2] - The company partners with long-term care facilities to deliver medications and technology-enabled services aimed at enhancing care and improving adherence to drug regimens [2] - Guardian operates a network of over 53 pharmacies nationwide, serving close to 204,000 residents as of September 30, 2025 [2]

Company Overview - CareRx Corporation is Canada's leading provider of pharmacy services to seniors living and other congregate care communities, including long-term care homes, retirement homes, assisted living facilities, and group homes [2] - The company operates a national network of pharmacy fulfillment centers strategically located across Canada, enabling timely and cost-effective medication delivery [2] - CareRx utilizes advanced technology to automate the preparation and verification of multi-dose compliance packaging, ensuring high safety and adherence for individuals with complex medication regimens [2] Recent Developments - The Board of Directors of CareRx has declared a dividend of CAD$0.02 per outstanding common share, payable on January 21, 2026, to shareholders of record as of December 23, 2025 [1] - This dividend is classified as an "eligible dividend" for Canadian income tax purposes, with specific tax implications for non-residents and U.S. residents [1]

Financial Performance and Outlook - CVS Health aims for mid-teens adjusted EPS CAGR through 2028, driven by diversified businesses[14, 15, 162] - The company expects at least $400 billion in total revenues for 2026[152] - The adjusted operating income for 2026 is projected to be between $1507 billion and $1541 billion[152] - Adjusted earnings per share are guided to be between $700 and $720 for 2026[152] - CVS Health anticipates at least $10 billion in cash flow from operations in 2026[152] Business Segment Performance - Health Care Benefits expects at least $137 billion in revenue for 2026, with a year-over-year decline of (35)%, and adjusted operating income between $358 billion and $392 billion[148] - Health Services projects at least $1966 billion in revenue for 2026, with a year-over-year growth of +3%, and adjusted operating income of at least $725 billion[149] - Pharmacy and Consumer Wellness anticipates at least $1365 billion in revenue for 2026, with a year-over-year decline of (15)%, and adjusted operating income of at least $609 billion[150, 151] Strategic Initiatives - CVS Health is launching "Engagement as a Service" built around the Open Consumer Engagement Platform, with an open platform launch goal in 2026[133] - The company projects cumulative deployable cash of $55 to $60 billion from 2026 to 2028, allocating approximately 60% to shareholder dividends and 40% to flexible deployment[161]

Core Insights - Avricore Health Inc. is launching a pilot program to deliver inclisiran cholesterol-lowering injections through community pharmacies in collaboration with Barts Health NHS Trust, UCL Partners, and the British Heart Foundation [1][3][6] Group 1: Pilot Program and Funding - The pilot is supported by a £198,000 grant from the British Heart Foundation, aiming to decentralize cardiovascular therapy delivery and reduce hospital burden by shifting services to community pharmacies [3] - The initiative is part of the ELoPE-CVD program, which focuses on expanding access to preventive heart care and optimizing lipid management for high-risk patients [3] Group 2: HealthTab Integration - HealthTab™ is integrated with the Ortus-iHealth platform, allowing pharmacy-generated results to flow directly into hospital clinical systems, enhancing connectivity and data availability for clinicians and patients [4][11] - This integration positions HealthTab as a core infrastructure for NHS pharmacy-based care, moving beyond diagnostics to support therapy initiation and monitoring [7][12] Group 3: Expansion of HealthTab's Role - The pilot marks a significant expansion of HealthTab's role from primary prevention to secondary prevention, enabling community pharmacies to deliver and monitor advanced lipid-lowering therapy for patients with existing cardiovascular disease [5][10] - HealthTab is now positioned as a trusted technology partner within a high-profile cardiovascular program, validating its effectiveness in long-term lipid management pathways [7][10] Group 4: NHS Goals and Community Pharmacy Involvement - The NHS aims to prevent up to 150,000 heart attacks, strokes, and dementia cases over the next decade by improving detection and management of high-risk conditions, including high cholesterol [9] - The initiative aligns with NHS policy to enhance the role of community pharmacies in managing long-term conditions and integrating them into shared digital records [9][10] Group 5: Commitment to Quality and Performance - HealthTab is designed to meet high standards of analytical performance and reliability, supported by a comprehensive quality management program in partnership with CEQAL Inc. [15][16] - The program includes centralized monitoring of reagents and regular quality assessments to ensure accuracy and consistency of results across participating sites [16]

Core Insights - UnitedHealth Group Incorporated (UNH) and CVS Health Corporation (CVS) are prominent players in the healthcare industry, integrating health insurance, pharmacy services, and care delivery resources to enhance their market reach [1][2] UnitedHealth Group (UNH) - UNH operates through two segments: UnitedHealthcare (insurance benefits) and Optum (virtual care, behavioral health, pharmacy solutions) [2] - As of September 30, 2025, UNH has a market cap of $296.2 billion and serves 50.1 million people, reflecting a 1.6% year-over-year growth [4] - Total revenue for UNH increased by 12% year-over-year in Q3 2025, with UnitedHealthcare growing by 16% and Optum by 8% [5] - UNH ended Q3 2025 with $30.6 billion in cash and short-term investments, with total debt-to-capital at 41.6% [6] - The medical care ratio rose to 89.9% in Q3 2025, up from 85.2% the previous year, indicating rising medical costs [7] - UNH expects revenues between $445.5 billion and $448 billion for 2025, with adjusted net EPS projected at least $16.25 [13] CVS Health Corporation (CVS) - CVS operates through Aetna (insurance), Caremark (pharmacy benefit management), and retail pharmacy segments [2] - CVS has a market cap of $99.6 billion and serves 26.7 million medical members as of September 30, 2025 [9] - Total revenues for CVS rose by 7.8% year-over-year to $102.9 billion in Q3 2025, with adjusted operating income increasing by 35.8% [10] - CVS ended Q3 2025 with $9.1 billion in cash and cash equivalents, with a medical benefit ratio of 92.8% [11] - CVS expects revenues of at least $397.3 billion for 2025, with adjusted EPS projected between $6.55 and $6.65 [14] Comparative Analysis - CVS is currently favored in earnings estimates, with a projected 22.1% increase in earnings for 2025, while UNH's EPS is expected to decline by 41.1% [15] - Valuation metrics show CVS trading at a forward P/E of 11.07X compared to UNH's 18.68X, indicating a more attractive risk-reward profile for CVS [16] - Year-to-date, UNH shares have dropped by 35.5% due to medical cost concerns, while CVS shares have increased by 74.8% [19] Conclusion - UNH remains a significant player in the healthcare sector but faces challenges from rising medical costs and regulatory scrutiny [20] - CVS is showing positive momentum with improved profit margins and consistent earnings beats, presenting a more favorable investment opportunity [21][22]