BrightSpring Health Services (BTSG) Leerink’s Global Healthcare Conference 2025 summary

Business overview and strategic focus

• Serves approximately 400,000 people daily across the U.S., focusing on home and community settings for seniors and specialty populations.

• Operates three main pharmacy businesses: specialty oncology, home infusion, and home/community pharmacy, with over 40 million scripts annually.

• Provider services include home health, rehab, hospice, and personal care, with a growing emphasis on home-based primary care and value-based care.

• Achieved a nine-year CAGR of 15%+ in revenue and adjusted EBITDA, expecting growth to exceed 20% this year.

Recent transactions and capital deployment

• Sold the community living business to focus more on seniors and specialty populations, with proceeds primarily used to pay down debt and move toward a three-times leverage target.

• Plans to leave some capital for tuck-in M&A, targeting attractive and accretive acquisitions.

Pharmacy segment performance and growth drivers

• Specialty oncology pharmacy (Onco360) and CareMed have strong manufacturer relationships, high NPS, and win a significant share of limited distribution drugs.

• Oncology pipeline expected to see $90 billion in new drugs over seven years; company wins a lion's share of these.

• Focused on driving generic utilization and building a fee-for-service business with manufacturers.

• Home and community pharmacy has diversified beyond skilled nursing, showing solid growth and performance in line with expectations.