Viemed Healthcare (VMD) investor relations material

Business overview and market opportunity

• Provides in-home complex respiratory services, sleep apnea therapy, oxygen, airway clearance, and maternal health, serving over 198,000 patients nationwide.

• Achieved 26% compounded annual revenue growth since public listing, with $34 million TTM free cash flow and no net debt.

• Holds 20% insider ownership and a $371 million market cap, with significant growth potential due to only 5-10% market penetration among eligible patients.

• Regulatory tailwinds, including a favorable National Coverage Determination, have supported market share gains.

• Technology platform enables real-time patient monitoring, compliance tracking, and telehealth, differentiating from competitors.

Product and service diversification

• Core business is ventilator rentals with average 17-month patient stays and uncapped billing; Medicare is the largest payer.

• Diversified into sleep apnea, airway clearance, oxygen therapy, and maternal health, with sleep and maternal health showing rapid growth.

• Sleep apnea segment grew 44% last year, with resupply up 47%, now comprising 22% of revenue.

• Maternal health expanded nationally through acquisition, leveraging digital marketing and insurance reimbursement for products.

• Healthcare staffing, developed during COVID, now represents 7% of revenue.

Growth strategy and acquisitions

• Focuses on organic growth by expanding into new territories and densifying existing ones through clinician recruitment.

• Completed three acquisitions: HMP (sleep/respiratory, $31M), EAMC JV ($4.5M), and Lehan's (maternal/respiratory, ~$30M).

• Maintains a disciplined M&A approach, seeking strong management teams and strategic fits.

• Pristine balance sheet with no net debt and ample liquidity supports further acquisitions if suitable opportunities arise.

• Operational leverage achieved through centralized administration and technology-driven processes.