Core Insights - The American Oncology Network (AON) partner practice Fort Wayne Medical Oncology and Hematology (FWMOH) is expanding its services in partnership with Cameron Health to enhance access to community-based cancer care in Angola, Indiana [1][2] Group 1: Expansion of Services - FWMOH is increasing the scope and days of service at Cameron Health, providing greater access to medical oncology, hematology, infusion therapy, and supportive services, including palliative care [3][5] - The expansion is a response to rising cancer rates in Angola and Steuben County, indicating a growing need for local oncology services [2][5] Group 2: Facility Enhancements - The Regional Cancer Care Center of Angola has undergone a full interior renovation, including an expanded lobby, new exam rooms, a private physician office, and 12 infusion bays [4] - The renovations support the installation of a new linear accelerator, enhancing the quality of care provided [4] Group 3: Commitment to Community Care - FWMOH emphasizes a holistic approach to cancer care, focusing on the whole person rather than just the disease, ensuring timely and personalized care for patients [5] - The partnership between FWMOH and Cameron Health aims to provide high-quality, coordinated cancer care within the community, reducing the need for patients to travel far for treatment [5]

Financial Data and Key Metrics Changes - For the full year 2025, net revenue was $5.6 billion, up 13% over the prior year, driven by balanced growth across acute and chronic therapies [14] - Gross profit dollars grew 7.4%, with adjusted EBITDA of $471 million increasing 6% over the prior year, resulting in an EBITDA margin of 8.3% [15] - Adjusted diluted EPS was $1.72, growing 9%, reflecting strong operating performance and share repurchases [15] - The company generated $258 million in cash flow from operations for the full year 2025, finishing the year with a net debt to leverage ratio of 2.0x [15] Business Line Data and Key Metrics Changes - Acute revenue grew in the mid-teens, while chronic therapies grew in the low double digits [14] - The company absorbed a revenue headwind of 160 basis points from patient transitions to Stelara biosimilars, impacting the chronic portfolio [14] Market Data and Key Metrics Changes - The company served over 315,000 unique patients across various therapeutic categories, completing over 2.5 million infusion events [6] - The partnership with payers deepened, with five new programs added with regional health plans and two with nontraditional payers [9] Company Strategy and Development Direction - The company is focused on transforming healthcare by improving outcomes, lowering total costs of care, and delivering hope to patients [5] - There is a strong pipeline of infused and injectable drugs to treat clinically complex patients, with ongoing engagement with pharma manufacturers [10] - The company continues to invest in growth, adding talent across commercial sales, operations, and clinical teams, while also strengthening its technology stack [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the guidance for 2026, expecting revenue of $5.8 billion to $6 billion, reflecting a 4% growth at the midpoint [19] - The company anticipates a gross profit headwind related to Stelara and biosimilars conversion, with the financial impact expected to be realized evenly over the year [19] - Management noted that the pace of conversations with payers has increased, focusing on total cost of care and reducing inpatient utilization [24] Other Important Information - The company added over 80 infusion chairs in 2025 and continues to build out its suite and clinic footprint [18] - The company is actively identifying complementary tuck-in acquisitions and has repurchased over $300 million of its shares during 2025 [18] Q&A Session Summary Question: Can you talk about affordability and conversations with payers and hospital systems? - Management noted that conversations with payers have increased, focusing on total cost of care and transitioning patients safely to their services [24] Question: Can you clarify the advanced practitioner model and its impact? - The 25% increase in nursing efficiency was specific to Intramed sites, with overall efficiencies expected to grow as sites mature [30] Question: What is the outlook for acute and chronic growth in 2026? - Acute growth is expected to be mid-single digits, while chronic growth is anticipated to be in the high single-digit to low double-digit range [49] Question: How does the company view the impact of Stelara and biosimilars? - Management confirmed a $25 million to $35 million gross profit headwind related to Stelara, with expectations that it will pattern out evenly throughout the year [79] Question: Can you provide details on the new programs with nontraditional payers? - Management described nontraditional payers as conveners creating better solutions for payers and direct employer relationships, with reimbursement rates comparable to commercial payers [90]

Company Overview - Lone Star Oncology is a community-based medical oncology and hematology practice that provides treatment for patients diagnosed with various types of cancer and blood disorders [8] - The practice opened in June 2023 and is part of the American Oncology Network (AON) [3] New Appointment - Dr. Derrick Nguyen, a Board-certified medical oncologist with over 15 years of experience, has joined Lone Star Oncology and is accepting new patients [2][3] - Dr. Nguyen completed his medical education and training at the University of Texas Health Science Center and the University of New Mexico Health Sciences Center [2] Commitment to Care - Dr. Nguyen expressed his honor in joining Lone Star Oncology, highlighting the practice's strong reputation for compassionate, patient-centered care [3] - Brian J. Shimkus, MD, emphasized that Dr. Nguyen's clinical expertise will enhance the quality of oncology services provided to Central Texas patients [3] Partnership with AON - Through its partnership with AON, Lone Star Oncology has expanded access to various services, including infusion therapy, centralized laboratory and pathology services, and financial counseling [4] - AON aims to ensure the long-term success of community oncology practices by providing support and resources to its network of over 300 providers across 20 states [7] Mission and Values - AON is dedicated to delivering exceptional, patient-centered cancer care and promoting health equity by addressing disparities in cancer care [7] - The organization focuses on innovative healthcare solutions and value-based care to improve patient outcomes while reducing costs [7]