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AdaptHealth Corp.
5/9/2023
And welcome to today's ADAPT Health 1Q23 earnings release. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and 1 on your touchtone phone. You may withdraw yourself from the queue by pressing star and 2. Please note, this call may be recorded. I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Chris Joyce, General Counsel.
Thank you, Operator. I'd like to welcome everyone to today's ADAPT Health Corp conference call for the first quarter ended March 31, 2023. Everyone should have received a copy of our earnings release yesterday evening. If not, I'd like to highlight that the earnings release, as well as a supplemental slide presentation regarding Q1 2023 results, is posted on the investor relations section of our website. In a moment, we'll have some prepared comments from Richard Barish, Chair of Adaptel, Steve Griggs, Chief Executive Officer of Adaptel, Josh Parnas, President of Adaptel, and Jason Clemens, Chief Financial Officer of Adaptel. We will then open the call for questions. Before we begin, I'd like to remind everyone that statements included in this conference call and in our press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements include, but are not limited to, comments regarding our financial results for 2023 and beyond. Actual results could differ materially from those projected in forward-looking statements because of a number of risk factors and uncertainties, which are discussed at length in our annual and quarterly SEC filings. ADAPT Health Corp. shall have no obligation to update the information provided on this call to reflect such subsequent events. Additionally, on this morning's call, we'll reference certain financial measures such as EBITDA, adjusted EBITDA, and free cash flow, all of which are non-GAAP financial measures. This morning's call is being recorded, and a replay of the call will be available later today. I'm now pleased to introduce the Chair of ADAPT Health's Board of Directors, Richard Barish.
Good morning, everyone. Thanks for joining us on our first quarter conference call. As you know, this morning we announced that Steve Griggs will step down as CEO of ADAPT Health as of June 30, 2023. He will be leaving the company in sound financial condition and much improved operational shape. Further, Adapt Health is blessed with a high-quality senior leadership team that will continue to lead the company forward in the areas we will be discussing today. On behalf of the board, I thank Steve for the critical leadership role he's played at Adapt Health to help build a market-leading provider of sleep, diabetes, respiratory, and other health care solutions. As CEO, he has led the company through the successful integration of AdaptHealth and AeroCare, overseen more than two dozen acquisitions, and helped us navigate the challenges of COVID-19 and the CPAP shortage resulting from the Phillips recall. The board has begun an extensive search process and so far has been quite pleased with the quality of the candidates to become CEOs. We're optimistic that we can fill the role over the next several months, but if there's a gap, the board has asked me to step in as interim CEO until the role is officially filled. I will now turn the call over to Steve.
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