AMEDISYS INC0000896262false00008962622024-11-062024-11-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): November 6, 2024
Commission File Number: 0-24260

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AMEDISYS, INC.
(Exact Name of Registrant as specified in its Charter) 
  
Delaware
11-3131700
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
3854 American Way, Suite A, Baton Rouge, LA 70816
(Address of principal executive offices, including zip code)

(225) 292-2031 or (800) 467-2662
(Registrant’s telephone number, including area code) 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per shareAMEDThe NASDAQ Global Select Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
 




SECTION 2 — FINANCIAL INFORMATION

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On November 6, 2024, Amedisys, Inc. ("we," "us," "our," or "the Company") issued a press release (the “Press Release”) announcing its financial results for the three and nine-month periods ended September 30, 2024. A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information presented in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, unless we specifically state that the information is to be considered “filed” under the Exchange Act or specifically incorporate it by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.
SECTION 7 – REGULATION FD
ITEM 7.01. REGULATION FD DISCLOSURE

Item 2.02 of this Current Report on Form 8-K is incorporated herein by reference.

In addition, a copy of the Company's third quarter supplemental slides are attached to this report as Exhibit 99.2 and incorporated herein by reference.

The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibits 99.1 and 99.2 hereto) is being “furnished” and shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of Section 18, nor shall it be incorporated by reference into a filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibits 99.1 and 99.2 hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.




SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS



Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 
AMEDISYS, INC.
(Registrant)

By:    /s/ Scott G. Ginn
    Scott G. Ginn
    Chief Operating Officer, Executive Vice President and Chief Financial Officer
    (Principal Financial Officer)

DATE: November 6, 2024



Exhibit 99.1
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AMEDISYS REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS

BATON ROUGE, Louisiana (November 6, 2024) — Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three and nine-month periods ended September 30, 2024.
Three-Month Periods Ended September 30, 2024 and 2023

•Net service revenue increased $31.5 million to $587.7 million compared to $556.2 million in 2023.
•Net income attributable to Amedisys, Inc. of $16.9 million, which is inclusive of merger-related expenses totaling $16.7 million ($16.7 million, net of tax) compared to net income attributable to Amedisys, Inc. of $26.0 million, which is inclusive of merger-related expenses totaling $5.0 million ($4.7 million, net of tax) in 2023.
•Net income attributable to Amedisys, Inc. per diluted share of $0.51 compared to $0.79 in 2023.

Adjusted Quarterly Results*

•Adjusted EBITDA of $58.1 million compared to $57.9 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. of $33.2 million compared to $32.2 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.00 compared to $0.98 in 2023.

Nine-Month Periods Ended September 30, 2024 and 2023

•Net service revenue increased $84.7 million to $1,750.3 million compared to $1,665.6 million in 2023.
•Net income attributable to Amedisys, Inc. of $63.6 million, which is inclusive of merger-related expenses totaling $49.2 million ($48.0 million, net of tax) compared to net loss attributable to Amedisys, Inc. of $29.1 million, which is inclusive of merger-related expenses totaling $131.2 million ($130.9 million, net of tax) in 2023.
•Net income attributable to Amedisys, Inc. per diluted share of $1.93 compared to net loss attributable to Amedisys, Inc. per diluted share of $0.89 in 2023.

Adjusted Year to Date Results*

•Adjusted EBITDA of $191.1 million compared to $190.4 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. of $110.7 million compared to $109.8 million in 2023.
•Adjusted net income attributable to Amedisys, Inc. per diluted share of $3.35 compared to $3.36 in 2023.



* See pages 2 and 13 - 14 for the definition and reconciliations of non-GAAP financial measures to GAAP measures.
The supplemental slides provided in connection with the third quarter 2024 earnings release can be found on the Investor Relations page of our website. In light of the pending merger of the Company with UnitedHealth Group Incorporated, Amedisys will not conduct a quarterly earnings call to discuss the third quarter results.
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Non-GAAP Financial Measures
This press release includes reconciliations of the most comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) to non-GAAP financial measures. The non-GAAP financial measures as defined under SEC rules are as follows: (1) adjusted EBITDA, defined as net income (loss) attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items; (2) adjusted net income attributable to Amedisys, Inc., defined as net income (loss) attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items; and (3) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net income (loss) attributable to Amedisys, Inc. common stockholders per diluted share calculated in accordance with GAAP excluding certain items. Management believes that these non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, are useful gauges of our current performance and are also included in internal management reporting. These non-GAAP financial measures should be considered in addition to, and not more meaningful than or as an alternative to, the GAAP financial measures presented in this earnings release and the company’s financial statements. Non-GAAP measures as presented herein may not be comparable to similarly titled measures reported by other companies since not all companies calculate these non-GAAP measures consistently.
Additional Information
Amedisys, Inc. (the “Company”) is a leading healthcare at home company delivering personalized home health, hospice and high acuity care services. Amedisys is focused on delivering the care that is best for our patients, whether that is in-patient hospital, palliative and skilled nursing facility ("SNF") care in their homes, home-based recovery and rehabilitation after an operation or injury, care focused on empowering our patients to manage a chronic disease or hospice care at the end of life. More than 3,000 hospitals and 110,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With approximately 19,000 employees in 519 care centers within 37 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 469,000 patients every year. For more information about the Company, please visit: www.amedisys.com.
We use our website as a channel of distribution for important company information. Important information, including press releases, investor presentations and financial information regarding our company, is routinely posted on and accessible on the Investor Relations subpage of our website, which is accessible by clicking on the tab labeled “Investors” on our website home page. Visitors to our website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.
Forward-Looking Statements
When included in this press release, words like “believes,” “belief,” “expects,” “strategy,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “will,” “could,” “would,” “should” and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to, the following: disruption from the proposed merger with UnitedHealth Group with patient, payor, provider, referral source, supplier or management and employee relationships; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement with UnitedHealth Group or the inability to complete the proposed transaction on the anticipated terms and timetable; the risk that necessary regulatory approvals for the proposed merger with UnitedHealth Group are delayed, are not obtained or are obtained subject to conditions that are not anticipated; the failure of the conditions to the proposed merger to be satisfied; the costs related to the proposed merger; the diversion of management time on merger-related issues; the risk that termination fees may be payable by the Company in the event that the merger agreement is terminated under certain circumstances; reputational risk related to the proposed merger; the risk of litigation or regulatory action related to the proposed merger; changes in Medicare and other medical payment levels; changes in payments and covered services by federal and state governments; future cost containment initiatives undertaken by third-party payors; changes in the episodic versus non-episodic mix of our payors, the case mix of our patients and payment methodologies; staffing shortages driven by the competitive labor market; our ability to attract and retain qualified personnel; competition in the healthcare industry; our ability to maintain or establish new patient referral sources; changes in or our failure to comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis; changes in estimates and judgments associated with critical accounting policies; our ability to consistently provide high-quality care; our ability to keep our patients and employees safe; our access to financing; our ability to meet debt service requirements and comply with covenants in debt agreements; business disruptions due to natural or man-made disasters, climate change or acts of terrorism, widespread protests or civil unrest; our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively; our ability to realize the anticipated benefits of acquisitions, investments and joint ventures; our ability to integrate, manage and keep our information systems secure; the impact of inflation; and changes in laws or developments with respect to any litigation relating to the Company, including various other matters, many of which are beyond our control.
Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or
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undertaking and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.

Contact:    Investor Contact:                Media Contact:            
Amedisys, Inc.                    Amedisys, Inc.
        Nick Muscato                    Kendra Kimmons
        Chief Strategy Officer             Vice President, Marketing & Communications
    (615) 928- 5452                    (225) 299-3720
        IR@amedisys.com             kendra.kimmons@amedisys.com
    

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AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
(Unaudited)
 For the Three-Month 
Periods Ended September 30,		For the Nine-Month
Periods Ended September 30,
 2024202320242023
Net service revenue$587,671 $556,237 $1,750,272 $1,665,594 
Operating expenses:
Cost of service, inclusive of depreciation337,563 311,628 986,033 924,093 
General and administrative expenses:
Salaries and benefits134,833 129,083 392,102 380,926 
Non-cash compensation6,726 6,612 21,987 18,968 
Merger-related expenses16,669 4,980 49,237 25,151 
Depreciation and amortization4,774 4,436 13,431 13,604 
Other56,777 57,287 173,320 180,467 
Total operating expenses557,342 514,026 1,636,110 1,543,209 
Operating income30,329 42,211 114,162 122,385 
Other income (expense):
Interest income2,017 1,304 5,361 2,452 
Interest expense(7,772)(8,021)(23,786)(23,040)
Equity in earnings from equity method investments1,891 1,252 4,316 9,366 
Merger termination fee— — — (106,000)
Miscellaneous, net2,522 1,201 5,391 5,262 
Total other expense, net(1,342)(4,264)(8,718)(111,960)
Income before income taxes28,987 37,947 105,444 10,425 
Income tax expense(12,473)(12,331)(41,763)(40,381)
Net income (loss)16,514 25,616 63,681 (29,956)
Net (income) loss attributable to noncontrolling interests397 344 (69)887 
Net income (loss) attributable to Amedisys, Inc.$16,911 $25,960 $63,612 $(29,069)
Basic earnings per common share:
Net income (loss) attributable to Amedisys, Inc. common stockholders$0.52 $0.80 $1.94 $(0.89)
Weighted average shares outstanding32,745 32,624 32,707 32,587 
Diluted earnings per common share:
Net income (loss) attributable to Amedisys, Inc. common stockholders$0.51 $0.79 $1.93 $(0.89)
Weighted average shares outstanding33,135 32,831 33,020 32,587 

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AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share data)
September 30, 2024
(unaudited)		December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents$245,450 $126,450 
Restricted cash— 12,413 
Patient accounts receivable301,050 313,373 
Prepaid expenses20,485 14,639 
Other current assets12,962 30,060 
Total current assets579,947 496,935 
Property and equipment, net of accumulated depreciation of $101,003 and $92,422
42,000 41,845 
Operating lease right of use assets85,110 88,939 
Goodwill1,244,679 1,244,679 
Intangible assets, net of accumulated amortization of $17,603 and $14,008
99,698 102,675 
Other assets87,680 85,097 
Total assets$2,139,114 $2,060,170 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable$32,117 $28,237 
Payroll and employee benefits138,374 136,835 
Accrued expenses145,611 140,049 
Termination fee paid by UnitedHealth Group106,000 106,000 
Current portion of long-term obligations37,478 36,314 
Current portion of operating lease liabilities26,441 26,286 
Total current liabilities486,021 473,721 
Long-term obligations, less current portion344,428 361,862 
Operating lease liabilities, less current portion59,323 62,751 
Deferred income tax liabilities48,017 40,635 
Other long-term obligations886 1,418 
Total liabilities938,675 940,387 
Equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding— — 
Common stock, $0.001 par value, 60,000,000 shares authorized; 38,267,133 and 38,131,478 shares issued; 32,751,131 and 32,667,631 shares outstanding
38 38 
Additional paid-in capital
809,655 787,177 
Treasury stock, at cost, 5,516,002 and 5,463,847 shares of common stock
(473,466)(468,626)
Retained earnings811,537 747,925 
Total Amedisys, Inc. stockholders’ equity1,147,764 1,066,514 
Noncontrolling interests52,675 53,269 
Total equity1,200,439 1,119,783 
Total liabilities and equity$2,139,114 $2,060,170 


5

AMEDISYS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND DAYS REVENUE OUTSTANDING
(Amounts in thousands, except statistical information)
(Unaudited)
 For the Three-Month
Periods Ended September 30,		For the Nine-Month
Periods Ended September 30,
 2024202320242023
Cash Flows from Operating Activities:
Net income (loss)$16,514 $25,616 $63,681 $(29,956)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization (inclusive of depreciation included in cost of service)6,835 6,063 19,331 17,956 
Non-cash compensation6,206 7,243 22,390 19,624 
Amortization and impairment of operating lease right of use assets8,620 8,456 25,720 25,427 
(Gain) loss on disposal of property and equipment(3)(10)(22)346 
Loss on personal care divestiture— — — 2,186 
Merger termination fee— — — 106,000 
Deferred income taxes805 7,313 7,382 15,417 
Equity in earnings from equity method investments(1,891)(1,252)(4,316)(9,366)
Amortization of deferred debt issuance costs248 248 743 743 
Return on equity method investments1,442 1,556 2,160 4,309 
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable55,860 (40,796)11,503 (32,934)
Other current assets8,115 (17,123)11,242 (15,434)
Operating lease right of use assets(1,066)(866)(3,135)(2,803)
Other assets228 29 598 273 
Accounts payable5,860 (4,108)4,167 (8,839)
Accrued expenses5,400 5,565 12,495 10,340 
Other long-term obligations41 23 (532)(3,156)
Operating lease liabilities(7,590)(7,800)(22,019)(23,256)
Net cash provided by (used in) operating activities105,624 (9,843)151,388 76,877 
Cash Flows from Investing Activities:
Proceeds from the sale of deferred compensation plan assets— — 21 25 
Proceeds from the sale of property and equipment— — — 100 
Purchases of property and equipment(1,385)(984)(5,440)(3,728)
Investments in technology assets(210)(214)(619)(6,881)
Investments in equity method investees(850)— (1,046)— 
Return of investment— 150 — 150 
Proceeds from personal care divestiture— — — 47,787 
Acquisitions of businesses, net of cash acquired— — — (350)
Net cash (used in) provided by investing activities(2,445)(1,048)(7,084)37,103 
Cash Flows from Financing Activities:
Proceeds from issuance of stock upon exercise of stock options88 25 88 100 
Proceeds from issuance of stock under employee stock purchase plan— 848 — 2,602 
Shares withheld to pay taxes on non-cash compensation(645)(925)(4,840)(4,413)
Noncontrolling interest contributions— 856 1,911 1,232 
Noncontrolling interest distributions(610)(902)(2,574)(1,614)
Purchase of noncontrolling interest— — — (800)
Proceeds from borrowings under revolving line of credit— — — 23,000 
Repayments of borrowings under revolving line of credit — — — (23,000)
Principal payments of long-term obligations(9,348)(6,120)(27,730)(67,113)
Payment of accrued contingent consideration(4,572)(36)(4,572)(4,091)
Net cash used in financing activities(15,087)(6,254)(37,717)(74,097)
Net increase (decrease) in cash, cash equivalents and restricted cash88,092 (17,145)106,587 39,883 
Cash, cash equivalents and restricted cash at beginning of period157,358 111,161 138,863 54,133 
Cash, cash equivalents and restricted cash at end of period$245,450 $94,016 $245,450 $94,016 
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For the Three-Month
Periods Ended September 30,		For the Nine-Month
Periods Ended September 30,
2024202320242023
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest$7,313 $6,756 $23,220 $19,787 
Cash paid for income taxes, net of refunds received$9,600 $8,498 $27,993 $24,318 
Cash paid for operating lease liabilities$8,656 $8,665 $25,154 $26,059 
Cash paid for finance lease liabilities$3,723 $3,141 $10,834 $8,462 
Supplemental Disclosures of Non-Cash Activity:
Right of use assets obtained in exchange for operating lease liabilities$8,003 $10,459 $18,950 $25,261 
Right of use assets obtained in exchange for finance lease liabilities$2,211 $7,020 $12,228 $34,964 
Reductions to right of use assets resulting from reductions to operating lease liabilities$32 $— $200 $15,135 
Reductions to right of use assets resulting from reductions to finance lease liabilities$393 $315 $1,512 $1,209 
Days revenue outstanding (1)44.4 49.8 44.4 49.8 

(1) Our calculation of days revenue outstanding at September 30, 2024 and 2023 is derived by dividing our ending patient accounts receivable by our average daily patient revenue for the three-month periods ended September 30, 2024 and 2023, respectively.
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AMEDISYS, INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Amounts in millions, except statistical information)
(Unaudited)
Segment Information - Home Health
 For the Three-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$212.1 $217.9 
Non-Medicare160.0 133.7 
Net service revenue372.1 351.6 
Cost of service, inclusive of depreciation222.2 201.6 
Gross margin149.9 150.0 
General and administrative expenses93.3 91.4 
Depreciation and amortization2.1 1.8 
Operating income$54.5 $56.8 
Same Store Growth(1):
Medicare revenue(3 %)(2 %)
Non-Medicare revenue20 %17 %
Total admissions12 %4 %
Total volume(2)
9 %3 %
Key Statistical Data - Total(3):
Admissions109,856 98,527 
Recertifications47,431 45,693 
Total volume157,287 144,220 
Medicare completed episodes71,118 72,714 
Average Medicare revenue per completed episode(4)
$3,021 $3,015 
Medicare visits per completed episode(5)
12.0 12.4 
Visiting clinician cost per visit$108.87 $105.06 
Clinical manager cost per visit12.65 11.98 
Total cost per visit$121.52 $117.04 
Visits1,829,075 1,723,289 
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 For the Nine-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$644.0 $653.1 
Non-Medicare469.5 391.6 
Net service revenue1,113.5 1,044.7 
Cost of service, inclusive of depreciation648.6 593.1 
Gross margin464.9 451.6 
General and administrative expenses276.8 270.5 
Depreciation and amortization5.7 4.3 
Operating income$182.4 $176.8 
Same Store Growth(1):
Medicare revenue(1 %)(3 %)
Non-Medicare revenue20 %13 %
Total admissions12 %5 %
Total volume(2)
9 %3 %
Key Statistical Data - Total(3):
Admissions332,259 297,943 
Recertifications137,562 134,826 
Total volume469,821 432,769 
Medicare completed episodes217,116 221,125 
Average Medicare revenue per completed episode(4)
$3,018 $2,998 
Medicare visits per completed episode(5)
12.0 12.4 
Visiting clinician cost per visit$106.76 $101.55 
Clinical manager cost per visit12.18 11.41 
Total cost per visit$118.94 $112.96 
Visits5,453,694 5,250,944 
(1)Same store information represents the percent change in our Medicare, Non-Medicare and Total revenue, admissions or volume for the period as a percent of the Medicare, Non-Medicare and Total revenue, admissions or volume of the prior period. Same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center.
(2)Total volume includes all admissions and recertifications.
(3)Total includes acquisitions, start-ups and de novos.
(4)Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care.
(5)Medicare visits per completed episode are the home health Medicare visits on completed episodes divided by the home health Medicare episodes completed during the period.


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Segment Information - Hospice
 For the Three-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$197.8 $188.9 
Non-Medicare10.1 11.3 
Net service revenue207.9 200.2 
Cost of service, inclusive of depreciation107.7 104.2 
Gross margin100.2 96.0 
General and administrative expenses49.7 48.4 
Depreciation and amortization0.8 0.8 
Operating income$49.7 $46.8 
Same Store Growth(1):
Medicare revenue5 %1 %
Hospice admissions(4 %)(6 %)
Average daily census1 %(2 %)
Key Statistical Data - Total(2):
Hospice admissions11,488 11,968 
Average daily census13,004 12,943 
Revenue per day, net$173.74 $168.11 
Cost of service per day$89.92 $87.48 
Average discharge length of stay98 94 
 For the None-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$581.5 $559.8 
Non-Medicare31.4 33.0 
Net service revenue612.9 592.8 
Cost of service, inclusive of depreciation317.6 304.4 
Gross margin295.3 288.4 
General and administrative expenses146.5 144.1 
Depreciation and amortization2.3 2.2 
Operating income$146.5 $142.1 
Same Store Growth(1):
Medicare revenue4 %— %
Hospice admissions(3 %)(6 %)
Average daily census— %(2 %)
Key Statistical Data - Total(2):
Hospice admissions36,269 37,361 
Average daily census12,913 12,864 
Revenue per day, net$173.22 $168.80 
Cost of service per day$89.73 $86.66 
Average discharge length of stay93 91 
(1)Same store information represents the percent change in our Medicare revenue, Hospice admissions or average daily census for the period as a percent of the Medicare revenue, Hospice admissions or average daily census of the prior period. Same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center.
(2)Total includes acquisitions and de novos.
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Segment Information - Personal Care (1)

 For the Nine-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$— $— 
Non-Medicare— 15.0 
Net service revenue— 15.0 
Cost of service, inclusive of depreciation— 11.1 
Gross margin— 3.9 
General and administrative expenses— 2.3 
Depreciation and amortization— — 
Operating income$— $1.6 
Key Statistical Data - Total:
Billable hours— 440,464 
Clients served— 7,892 
Shifts— 191,379 
Revenue per hour$— $33.97 
Revenue per shift$— $78.19 
Hours per shift— 2.3
(1) We completed the sale of our personal care business on March 31, 2023.



Segment Information - High Acuity Care

 For the Three-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$— $— 
Non-Medicare7.7 4.4 
Net service revenue7.7 4.4 
Cost of service, inclusive of depreciation7.7 5.8 
Gross margin— (1.4)
General and administrative expenses5.7 5.3 
Depreciation and amortization0.8 0.7 
Operating loss$(6.5)$(7.4)
Key Statistical Data - Total:
Full risk admissions217 150 
Limited risk admissions656 430 
Total admissions873 580 
Total admissions growth51 %35 %
Full risk revenue per episode$9,997 $10,168 
Limited risk revenue per episode$6,623 $6,242 
Number of admitting joint ventures9 10 
11

 For the Nine-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
Medicare$— $— 
Non-Medicare23.9 13.1 
Net service revenue23.9 13.1 
Cost of service, inclusive of depreciation19.9 15.5 
Gross margin4.0 (2.4)
General and administrative expenses17.0 15.0 
Depreciation and amortization2.5 2.3 
Operating loss$(15.5)$(19.7)
Key Statistical Data - Total:
Full risk admissions513 468 
Limited risk admissions1,953 1,263 
Total admissions2,466 1,731 
Total admissions growth42 %56 %
Full risk revenue per episode$10,056 $10,783 
Limited risk revenue per episode$6,740 $5,881 
Number of admitting joint ventures9 10 




Segment Information - Corporate
 
 For the Three-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
General and administrative expenses$66.3 $52.9 
Depreciation and amortization1.1 1.1 
Total operating expenses$67.4 $54.0 
 For the Nine-Month Periods
Ended September 30,
 20242023
Financial Information (in millions):
General and administrative expenses$196.3 $173.6 
Depreciation and amortization2.9 4.8 
Total operating expenses$199.2 $178.4 




12

AMEDISYS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES
(Amounts in thousands)
(Unaudited)

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") Reconciliation:
For the Three-Month Periods
Ended September 30, 		For the Nine-Month Periods
Ended September 30,
2024202320242023
Net income (loss) attributable to Amedisys, Inc.$16,911 $25,960 $63,612 $(29,069)
Add:
        Income tax expense12,473 12,331 41,763 40,381 
        Interest expense, net5,755 6,717 18,425 20,588 
        Depreciation and amortization6,835 6,063 19,331 17,956 
        Certain items(1)
16,131 6,807 47,993 140,498 
Adjusted EBITDA(2)(5)
$58,105 $57,878 $191,124 $190,354 

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:
For the Three-Month Periods
Ended September 30,		For the Nine-Month Periods
Ended September 30,
2024202320242023
Net income (loss) attributable to Amedisys, Inc.$16,911 $25,960 $63,612 $(29,069)
Add:
        Certain items(1)
16,333 6,242 47,122 138,884 
Adjusted net income attributable to Amedisys, Inc.(3)(5)
$33,244 $32,202 $110,734 $109,815 

Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share Reconciliation:
For the Three-Month Periods
Ended September 30,		For the Nine-Month Periods
Ended September 30,
2024202320242023
Net income (loss) attributable to Amedisys, Inc. common stockholders per diluted share$0.51 $0.79 $1.93 $(0.89)
Add:
        Certain items(1)
0.49 0.19 1.43 4.25 
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share(4)(5)
$1.00 $0.98 $3.35 $3.36 

13

(1)    The following details the certain items for the three and nine-month periods ended September 30, 2024 and 2023:

Certain Items (in thousands):
For the Three-Month Periods
Ended September 30, 2024		For the Nine-Month Periods
Ended September 30, 2024
(Income) Expense(Income) Expense
Certain Items Impacting General and Administrative Expenses:
Merger-related expenses$16,669 $49,237 
Certain Items Impacting Total Other Income (Expense):
Other (income) expense, net(538)(1,244)
Total$16,131 $47,993 
Net of tax$16,333 $47,122 
Diluted EPS$0.49 $1.43 
For the Three-Month Periods
Ended September 30, 2023		For the Nine-Month Periods
Ended September 30, 2023
(Income) Expense(Income) Expense
Certain Items Impacting Cost of Service, Inclusive of Depreciation:
Clinical optimization and reorganization costs$282 396 
Certain Items Impacting General and Administrative Expenses:
Acquisition and integration costs338 3,106 
CEO transition1,094 5,279 
Merger-related expenses4,980 25,151 
Clinical optimization and reorganization costs466 4,203 
Personal care divestiture— 525 
Certain Items Impacting Total Other Income (Expense):
Other (income) expense, net (includes $106,000 merger termination fee)(353)101,838 
Total$6,807 $140,498 
Net of tax$6,242 $138,884 
Diluted EPS$0.19 $4.25 


(2) Adjusted EBITDA is defined as net income (loss) attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items as described in footnote 1.
(3)    Adjusted net income attributable to Amedisys, Inc. is defined as net income (loss) attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items as described in footnote 1.
(4)    Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted income (loss) per share calculated in accordance with GAAP excluding the earnings per share effect of certain items as described in footnote 1.
(5)    Adjusted EBITDA, adjusted net income attributable to Amedisys, Inc. and adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share should not be considered as an alternative to, or more meaningful than, income before income taxes or other measures calculated in accordance with GAAP. These calculations may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate these non-GAAP financial measures in the same manner.
14
1 Amedisys Third Quarter 2024 Earnings Release Supplemental Slides November 6th, 2024 EXHIBIT 99.2

 
2 This presentation may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those described in this presentation. You should not rely on forward-looking statements as a prediction of future events. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Amedisys internet website http://www.amedisys.com or by contacting the Amedisys Investor Relations department at (225) 292-2031. We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law. www.amedisys.com NASDAQ: AMED We encourage everyone to visit the Investors Section of our website at www.amedisys.com, where we have posted additional important information such as press releases, profiles concerning our business, clinical operations and control processes and SEC filings. FORWARD-LOOKING STATEMENTS EXHIBIT 99.2

 
3 OUR KEY AREAS OF FOCUS Strategic areas of focus and progress made during 3Q’24. • Home Health: Total same store admissions +12% • Hospice: Total same store ADC +0.5% • High Acuity Care: Admissions +51% 1 Organic Growth • Quality: Amedisys Oct’24 STARS score of 4.24 • 89% of care centers at 4+ Stars based on Oct’24 final release • 16 Amedisys care centers rated at 5 Stars in the Oct’24 final release • Hospice quality – outperforming industry average in all hospice item set (HIS) categories 3 Clinical Initiatives • Focusing on optimizing RN / LPN & PT / PTA staffing ratios. • Current LPN Ratio: 47.7% • Current PTA Ratio: 54.8% 4 Capacity and Productivity • Pending merger with UnitedHealth Group Inc. 5 M&A 2 Recruiting / Retention • Targeting industry leading employee retention amongst all employee categories • 3Q’24 Voluntary Turnover 20.5% 2024 Reimbursement • Final Hospice industry rule – Amedisys estimated impact +3.1% increase (effective 10/1/23) • Final Home Health industry rule – Amedisys estimated impact +0.8% increase (effective 1/1/24) 2025 Reimbursement • Final Hospice industry rule – industry estimated impact +2.9% increase (effective 10/1/24) • Final Home Health industry rule – industry estimated impact +0.5% increase (effective 1/1/25) 6 Regulatory EXHIBIT 99.2

 
4 HIGHLIGHTS AND SUMMARY FINANCIAL RESULTS (ADJUSTED): 3Q’24(1) For the quarter, we generated $588 million in revenue and $58 million of adjusted EBITDA which represents a $32 million increase in revenue and less than a $1 million increase in EBITDA over prior year. Rate increases and home health volume growth were offset by raises, wage inflation, a shift in home health mix, investments in hospice clinical staffing and higher compensation and benefit costs. 1. The financial results for the three-month periods ended September 30, 2023 and September 30, 2024 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Same Store volume – Includes admissions and recertifications. 3. Same Store is defined as care centers that we have operated for at least the last 12 months and startups that are an expansion of a same store care center. 4. Free cash flow is defined as cash flow from operations less routine capital expenditures and required debt repayments. Growth Metrics: • Total Admissions: 873 (+51%) • Number of admitting JVs: 9 Other Statistics: • Patient Satisfaction: 86% High Acuity Care Adjusted Financial Results Same Store Volume (3): • Admissions: -4% • ADC: +0.5% Other Statistics: • Revenue per Day: $173.74 (+3.3%) • Cost per day: $89.40 (+2.7%) HospiceHome Health Same Store (2)(3) : • Total Admissions: +12% • Total Volume: +9% Other Statistics: • Revenue per Episode: $3,021 (+0.2%) • Visiting Clinician Cost per Visit: $108.09 (+3.7%) Amedisys Consolidated • Revenue: +6% • EBITDA: $58M • EBITDA Margin: 9.9% • EPS: $1.00 Amedisys Consolidated Amedisys Consolidated Balance Sheet & Cash Flow • Net debt: $138.2M • Net Leverage ratio: 0.6x • Revolver availability: $511.2M • CFFO: $105.6M • Free cash flow (4): $95.2M • DSO: 44.4 (vs Q2’24 of 52.1 and down 5.4 days vs prior year) $ in Millions, except EPS 3Q23 3Q24 Home Health 351.6$ 372.1$ Hospice 200.2 207.9 High Acuity Care 4.4 7.7 Total Revenue 556.2$ 587.7$ Gross Margin % 44.3% 42.9% Adjusted EBITDA 57.9$ 58.1$ 10.4% 9.9% Adjusted EPS 0.98$ 1.00$ Free cash flow(4) (16.4)$ 95.2$ EXHIBIT 99.2

 
5 57.0% 12.8% 30.2% Home Health Revenue Medicare FFS Private Episodic Per Visit & Case Rate 63.3% 35.4% 1.3% Amedisys Consolidated Revenue Home Health Hospice High Acuity Care • Medicare FFS: Reimbursed for a 30-day period of care • Private Episodic: MA and Commercial plans who reimburse us for a 30-day period of care or 60-day episode of care, majority of which range from 90% - 100% of Medicare rates • Per Visit & Case Rate: Managed care, Medicaid and private payors who reimburse us per visit performed or per admission 95.1% 4.9% Hospice Revenue Medicare FFS Private Hospice Per Day Reimbursement: • Routine Care: Patient at home with symptoms controlled, ~97% of the Hospice care provided • Continuous Care: Patient at home with uncontrolled symptoms • Inpatient Care: Patient in facility with uncontrolled symptoms • Respite Care: Patient at facility with symptoms controlled • Home Health: 346 care centers; 34 states & D.C. • Hospice: 164 care centers; 31 states • High Acuity Care: 9 admitting joint ventures; 9 states; 34 referring hospitals • Total: 519 care centers/joint ventures; 37 states and D.C. OUR REVENUE SOURCES: 3Q’24 EXHIBIT 99.2

 
6 HOME HEALTH AND HOSPICE SEGMENT (ADJUSTED) – 3Q’24(1) • Medicare revenue per episode up 0.2% primarily due to the rate increase effective 1/1/2024 offset by higher lost billing periods and low utilization payment adjustments. • Y/Y Total CPV up $4.54 (+3.9%) primarily due to raises, wage inflation and higher health insurance costs. • EBITDA margin decreased 130 basis points driven by growth in lower margin payors and wage inflation. Home Health Highlights • Net revenue per day +3.3% primarily due to the +3.1% Hospice rate update effective 10/1/2023 partially offset by patient mix. • Cost per day up $2.31 (+2.7%) primarily due to raises, wage inflation, an increase in RN hires and higher health insurance costs partially offset by lower contractor utilization. • EBITDA margin up 60 basis points due to the 2024 rate increase (effective 10/1/2023) and clinical optimization and reorganization initiatives partially offset by higher labor costs. Hospice Highlights 1. The financial results for the three-month periods ended September 30, 2023 and September 30, 2024 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Pre-Corporate EBITDA does not include any corporate G&A expenses. 3. Same Store information represents the percent change in volume, admissions or ADC for the period as a percent of the volume, admissions or ADC of the prior period. 4. Same Store is defined as care centers that we have operated for at least the last 12 months and startups that are an expansion of a same store care center. $ in Millions 3Q23 3Q24 Medicare 217.9$ 212.1$ Non-Medicare 133.7 160.0 Home Health Revenue $351.6 $372.1 Gross Margin % 43.1% 40.7% Pre-Corporate EBITDA(2) $60.2 $58.7 17.1% 15.8% Operating Statistics Same Store Growth(3)(4) Total admissions 4% 12% Total volume 3% 9% Medicare revenue per episode $3,015 $3,021 Medicare recert rate 33.9% 32.8% Total cost per visit $116.20 $120.74 HOME HEALTH $ in Millions 3Q23 3Q24 Medicare 188.9$ 197.8$ Non-Medicare 11.3 10.1 Hospice Revenue $200.2 $207.9 Gross Margin % 48.2% 48.5% Pre-Corporate EBITDA(2) $48.7 $52.0 24.4% 25.0% Operating Statistics Admit growth - same store(3)(4) -6% -4% ADC growth - same store(3)(4) -2% 0.5% ADC 12,943 13,004 Avg. discharge length of stay 94 98 Revenue per day (net) $168.11 $173.74 Cost per day $87.09 $89.40 HOSPICE EXHIBIT 99.2

 
7 GENERAL & ADMINISTRATIVE EXPENSES – ADJUSTED (1,2) Notes: • Year over year total G&A as a percentage of revenue decreased 70 basis points • $7.2 million increase in total G&A is primarily due to planned wage increases and higher incentive compensation costs • $3.4 million increase in Corporate G&A is primarily due to planned wage increases and higher incentive compensation costs • Total G&A increased ~$3 million sequentially primarily due to planned wage increases and higher incentive compensation costs partially offset by lower legal fees 1. The financial results for the three-month periods ended September 30, 2023, December 31, 2023, March 31, 2024, June 30, 2024 and September 30, 2024 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Adjusted G&A expenses do not include depreciation and amortization. Impacted by raises and incentive compensation costs. 34.4% 34.5% 33.8% 33.1% 33.7% 32.0% 34.0% 36.0% 3Q23 4Q23 1Q24 2Q24 3Q24 Total G&A as a Percent of Revenue G&A as a Percent of Revenue $ in Millions 3Q23 4Q23 1Q24 2Q24 3Q24 Home Health Segment - Total 91.3$ 92.7$ 91.0$ 92.4$ 93.3$ % of HH Revenue 26.0% 25.8% 25.0% 24.5% 25.0% Hospice Segment - Total 48.4 48.6 48.0 48.7 49.7 % of HSP Revenue 24.2% 23.6% 23.9% 23.9% 23.9% High Acuity Care Segment - Total 5.2 5.4 5.9 5.4 5.7 % of HAC Revenue 119.2% 91.4% 92.5% 55.1% 74.2% Total Corporate Expenses 46.2 50.3 48.4 49.2 49.6 % of Total Revenue 8.3% 8.8% 8.5% 8.3% 8.4% Total 191.1$ 197.0$ 193.3$ 195.7$ 198.3$ % of Total Revenue 34.4% 34.5% 33.8% 33.1% 33.7% 3Q23 4Q23 1Q24 2Q24 3Q24 Salary and Benefits 27.7 29.4 27.6 27.4 29.9 Other 14.9 16.9 16.6 17.4 15.6 Corp. G&A Subtotal 42.6 46.3 44.2 44.8 45.5 Non-cash comp 3.6 4.0 4.2 4.4 4.1 Adjusted Corporate G&A 46.2 50.3 48.4 49.2 49.6 EXHIBIT 99.2

 
8 $25.00 $50.00 $75.00 $100.00 $125.00 3Q23 2Q24 3Q24 Cost Per Visit (CPV) Salaries Contractors Benefits Transportation OPERATIONAL EXCELLENCE: HOME HEALTH COST PER VISIT (CPV)-ADJUSTED YOY Total CPV impacted by higher labor costs and health insurance costs. *Note: Direct comparison with industry competitors’ CPV calculation $104.23 $105.25 $108.09 Components 3Q’23 2Q’24 3Q’24 YoY Variance Detail Initiatives Salaries $76.16 $76.99 $79.20 $3.04 YoY increase due to planned wage increases, wage inflation and visit mix Sequential increase due to one additional holiday and planned wage increases Staffing mix optimization, productivity and scheduling improvement initiatives in place to help overcome salary increases Contractors $5.59 $5.98 $5.64 $0.05 Sequential decrease due to lower rates and a decrease in utilization Focused efforts on filling positions with full-time clinicians Benefits $14.91 $15.00 $15.70 $0.79 YoY and Sequential increases due to higher payroll taxes on the salary increases described above and higher health insurance costs Focus on cost containment and spend optimization with specific focus on high-cost claims Transportation & Supplies $7.57 $7.28 $7.55 $(0.02) Sequential increase due to an increase in wound care supplies and higher fleet related costs *Visiting Clinician CPV $104.23 $105.25 $108.09 $3.86 Clinical Managers $11.97 $11.89 $12.65 $0.68 Fixed cost associated with non-visiting clinicians YoY and Sequential variances due to planned wage increases and additional staff Unit cost reduced as volume increases Total CPV $116.20 $117.14 $120.74 $4.54 EXHIBIT 99.2

 
9 DRIVING TOP LINE GROWTH 3% 5% 8% 9% 9% 4% 7% 10% 13% 12% 0.0% 4.0% 8.0% 12.0% 16.0% 120,000 130,000 140,000 150,000 160,000 3Q23 4Q23 1Q24 2Q24 3Q24 Volume SS Volume Growth SS Admit Growth Home Health Growth Hospice Growth -2% 0% 0.3% 0.4% 0.5% -3.0% -2.0% -1.0% 0.0% 1.0% 12,700 12,800 12,900 13,000 13,100 3Q23 4Q23 1Q24 2Q24 3Q24 ADC SS ADC Growth EXHIBIT 99.2

 
10 INDUSTRY LEADING QUALITY SCORES Quality of Patient Care (QPC) Patient Satisfaction (PS) • Amedisys maintains a 4-Star average in the Oct 2024 HHC Final release with 89% of our providers (representing 89% of care centers) at 4+ Stars and 56% of our providers (representing 55% of care centers) at 4.5+ Stars. •9 Amedisys providers (representing 16 care centers) rated at 5 Stars. Notes: (1) Oct 2024 QPC Star Final performance period = Jan 2023 – Dec 2023. (2) Oct 2024 PS Final performance period = Apr 2023 – Mar 2024 (3) QPC Star and PS Results for Amedisys Legacy providers only. (4) Only currently active care centers included in care center results. Metric Jan 24 Final Apr 24 Final Jul 24 Final Oct 24 Final Quality of Patient Care 4.41 4.35 4.32 4.24 Entities at 4+ Stars 96% 95% 93% 89% Metric Jan 24 Final Apr 24 Final Jul 24 Final Oct 24 Final Patient Satisfaction Star 3.61 3.72 3.77 3.78 Performance Over Industry +3% +2% +3% +3% 3.00 3.50 4.00 4.50 Jan 2022 Apr 2022 Jul 2022 Oct 2022 Jan 2023 Apr 2023 Jul 2023 Oct 2023 Jan 2024 Apr 2024 Jul 2024 Oct 2024 QPC Industry Performance Amedisys QPC Industry Avg QPC Top Competitor 3.00 3.50 4.00 4.50 Jan 2022 Apr 2022 Jul 2022 Oct 2022 Jan 2023 Apr 2023 Jul 2023 Oct 2023 Jan 2024 Apr 2024 Jul 2024 Oct 2024 PS Industry Performance Amedisys PS Industry Avg PS Top Competitor EXHIBIT 99.2

 
11 HOSPICE QUALITY: AMEDISYS HOSPICE CONTINUES TO MOVE TOWARDS BEST-IN-CLASS Hospice Quality Notes: Included in the above analysis are only active providers. EXHIBIT 99.2

 
12 DEBT AND LIQUIDITY METRICS Net leverage ~0.6x 1. Net debt defined as total debt outstanding ($383.7M) less cash and cash equivalents ($245.5M). 2. Leverage ratio (net) is defined as net debt divided by last twelve months adjusted EBITDA ($247.8M). 3. Liquidity defined as the sum of cash balance and available revolving line of credit. Outstanding Term Loan 355.0$ Outstanding Revolver - Finance Leases 28.7 Total Debt Outstanding 383.7 Less: Deferred Debt Issuance Costs (1.8) Total Debt - Balance Sheet 381.9 Total Debt Outstanding 383.7 Less Cash & Cash Equivalents (Excludes Restricted Cash) (245.5) Net Debt (1) 138.2$ Leverage Ratio (net) (2) 0.6 Term Loan 450.0$ Revolver Size 550.0 Borrowing Capacity 1,000.0 Revolver Size 550.0 Outstanding Revolver - Letters of Credit (38.8) Available Revolver 511.2 Plus Cash & Cash Equivalents (Excludes Restricted Cash) 245.5 Total Liquidity (3) 756.7$ As of: 9/30/24 Credit Facility Outstanding Debt As of: 9/30/24 EXHIBIT 99.2

 
13 CASH FLOW STATEMENT HIGHLIGHTS (1) Total cash flow from operations for 3Q’24 positively impacted by the collection of aged accounts receivable balances resulting from the Change Healthcare outage. 1. Free cash flow defined as cash flow from operations less routine capital expenditures and required debt repayments. $ in Millions 3Q23 4Q23 1Q24 2Q24 3Q24 GAAP net income (loss) 25.6$ 19.0$ 14.6$ 32.6$ 16.5$ Changes in working capital (56.4) 21.4 (36.8) 1.0 75.2 Depreciation and amortization 6.1 5.9 6.1 6.4 6.8 Non-cash compensation 7.2 9.4 7.9 8.3 6.2 Deferred income taxes 7.3 5.2 2.6 4.0 0.8 Other 0.4 (0.6) (0.9) - 0.1 Cash flow from operations (9.8) 60.3 (6.5) 52.3 105.6 Capital expenditures - routine (0.5) (0.9) (1.2) (0.6) (1.1) Required debt repayments (6.1) (8.9) (8.9) (9.4) (9.3) Free cash flow (16.4)$ 50.5$ (16.6)$ 42.3$ 95.2$ EXHIBIT 99.2

 
14 INCOME STATEMENT ADJUSTMENTS (1) 1. The financial results for the three-month periods ended September 30, 2023, December 31, 2023, March 31, 2024, June 30, 2024 and September 30, 2024 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 3Q’24 adjustments primarily related to costs associated with pending merger. $000s Income Statement Line Item 3Q23 4Q23 1Q24 2Q24 3Q24 Cost of Service Clinical optimization and reorganization costs Cost of Serv ice, Inclusiv e of Depreciation 282$ 1 99$ -$ -$ -$ G&A Acquisition and integration costs General and Administrativ e Expenses 338 1 80 - - - Clinical optimization and reorganization costs General and Administrativ e Expenses 466 1 ,81 9 - - - Merger-related expenses General and Administrativ e Expenses 4,980 1 1 ,521 20,667 1 1 ,901 1 6,669 CEO transition General and Administrativ e Expenses 1 ,094 661 - - - Other Items Other (income) expense, net Total Other (Expense) Income, Net (353) (534) (37 1 ) (335) (538) Total 6,807$ 13,846$ 20,296$ 11,566$ 16,131$ EPS Impact 0.19$ 0.35$ 0.59$ 0.34$ 0.49$ EBITDA Impact 6,807$ 13,846$ 20,296$ 11,566$ 16,131$ EXHIBIT 99.2

 
15 Environmental, Social, Governance (E.S.G.) Considerations EXHIBIT 99.2

 
16 ENVIRONMENTAL, SOCIAL, GOVERNANCE (E.S.G.) CONSIDERATIONS Sustainable, high-quality, patient focused, home-based care model E n vi ro nmental, Social, Govern an ce Environmental • Amedisys is dedicated to the sustainability of our business and the communities in which we serve • Environmental health has a strong correlation with physical health • A greener fleet – newer vehicles, in circulation for a shorter time, optimize fuel usage. Sophisticated scheduling practices reduce our clinicians’ driving time and fuel usage helping to minimize our carbon footprint • Virtual care centers, along with flexible working schedules and locations, have created fewer emissions Social • Amedisys strives to create an organizational culture and climate in which every individual is valued, all team members have a sense of belonging with one another and to the organization and feel empowered to do their best work • Provider of Home Health and Hospice services to frail, elderly patients in their most preferred care location – their homes • Highest quality Home Health company as measured by Quality of Patient Care Star scores (4.24 Stars) • The Amedisys Foundation was formed to provide support to our patients and employees. The Amedisys Foundation has two funds: the Patients’ Special Needs Fund and the Amedisys Employees 1st Fund. The Patients’ Special Needs Fund provides financial assistance to our home health, hospice and high acuity care patients during a difficult time Governance • Amedisys has a culture of compliance starting with oversight from the Board of Directors and cascading down to the care center level • Our Board of Directors operates several sub-committees including: • Quality of Care Committee • Compliance & Ethics Committee • Audit Committee • Compensation Committee • Nominating & Corporate Governance Committee • The Nominating and Corporate Governance Committee oversees our strategy on corporate social responsibility, including evaluating the impact of Company practices on communities and individuals, and develops and recommends to our Board of Directors for approval matters relating to the Company’s corporate social responsibility and ESG considerations EXHIBIT 99.2

 
v3.24.3
Cover Document
Nov. 06, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 06, 2024
Entity File Number 0-24260
Entity Registrant Name AMEDISYS INC
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 11-3131700
Entity Address, Street 3854 American Way
Entity Address, Suite Suite A
Entity Address, City Baton Rouge
Entity Address, State LA
Entity Address, Postal Zip Code 70816
City Area Code 225
Local Phone Number 292-2031
Title of each class Common Stock, par value $0.001 per share
Trading Symbol AMED
Name of each exchange on which registered NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0000896262
Amendment Flag false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
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