BrightSpring Health Services (BTSG) investor relations material

Strategic vision and market positioning

• Focus on home and community health services, targeting high-need, complex patient populations across all 50 states.

• Transitioned from a behavioral health focus to a dual pharmacy and provider platform, with recent divestiture of the IDD business.

• Operates in large, fragmented, and growing markets, serving seniors and specialty populations with 8%-12% growth rates.

• Two-thirds of growth has been organic, with one-third from strategic, accretive M&A, including 150+ de novo locations and 80 acquisitions.

• Positioned as a natural consolidator, leveraging scale for operational and quality advantages.

Service lines and operational model

• Three main pharmacy businesses: specialty (oncology, rare therapies), infusion, and home/community pharmacy, all closed-door and patient-centric.

• Provider side includes home health, hospice, and rehab, with strong management and 15% EBITDA CAGR.

• Majority of revenue from pharmacy, but provider margins balance overall EBITDA.

• Recent scale gains from acquiring divested assets, with provider markets growing at 5%-7%.

• Quality is a core focus, with top-tier Net Promoter Scores and continuous improvement initiatives.

Technology, process improvement, and innovation

• Significant investment in technology, aiming to be the most advanced in healthcare services.

• 30-person AI team working on 10+ projects, including automating intake and medication management, with rollouts starting in fall.

• Lean and Six Sigma programs embedded across the organization, with a dedicated PMO driving 100+ projects.

• Technology and best practices deployed enterprise-wide, improving retention, quality, and operational efficiency.

• Focus on building proprietary AI capabilities to avoid reliance on external vendors.