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Transforming the Delivery of Healthcare

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Transforming the Delivery of Healthcare ADEPTUS HEALTH INC. 2015 ANNUALADEPTUS REPORT HEALTH INC. 2015 TRANSFORMING TRANSFORMING THE THE DELIVERY DELIVERY OF HEALTHCARE OF HEALTHCARE 2015 ANNUAL REPORT 4/6/16 2:41 PM We’re bringing healthcare closer to home for more people than ever 1 45725cov.indd 4-6 Doesn’t everyone deserve access to the highest “quality emergency care that Adeptus Health provides? Our answer is a resounding yes! ” DEAR FELLOW SHAREHOLDERS In 2015 we made tremendous strides in our mission to provide access to the highest quality medical care in the communities we and our partners serve. In doing so we are helping to transform the delivery of emergency medical care in the U.S. and, importantly, saving lives every day. The need we are addressing remains great. As Dr. Jay Kaplan, president of the American College of Emergency Physicians (ACEP), worded it very simply in a Feb. 15, 2016 Modern Healthcare article: “Emergency and wait are two words that shouldn’t go together – it’s oxymoronic.” Emergency patients are distressed about acute health problems and the longer they wait, the worse the outcome could be. Not only are long wait times a problem, but more critical for a large portion of our population is simply having access to emergency care. ACEP has given access to emergency care in our country a grade of D-. This is clearly a national crisis that must be solved, and solved the right way. Adeptus Health’s innovative model ADEPTUS HEALTH FACILITIES is a game changer. Combining networks of freestanding emergency rooms and partnerships with leading healthcare systems that leverage their trusted brands and extensive networks, we have been able to expand access to emergency care and dramatically reduce wait times while delivering award-winning high quality care. Our model is not only the right thing to do for people in need of care, but it’s the right thing to do for our business, too. Our 2015 business accomplishments underscore our ability to recognize and meet the demand for more access, the highest quality care and short wait times, resulting in satisfied patients. This past year, we Continued on next page » 2 45725nar.indd 1 4/7/16 3:13 PM doubled our revenue, grew adjusted EBITDA by 169 percent, secured new partnerships and opened 26 new freestanding emergency rooms and two hospitals, while continuing to deliver the highest quality care that is consistently rated among the top in the nation for patient satisfaction – we have won the Press Ganey Guardian of Excellence Award three years in a row. Throughout the year, we expanded access into more and more communities – both independently and with our partners – including 16 freestanding emergency facilities and one hospital in Texas; six freestanding emergency facilities in Colorado, in partnership with UCHealth; and one hospital and four freestanding emergency facilities in Arizona with partner, Dignity Health. In September, we expanded into Louisiana through a partnership with Ochsner Health System and are identifying sites Partnerships have for multiple freestanding emergency rooms there. Partnerships have been, and will continue to be a cornerstone of been, and will our growth. In the second half of 2015 we doubled the size of our “ development team and our potential joint venture pipeline is building nicely. continue to be a It’s important to note that we are not competing with hospitals; we are cornerstone of partnering with some of the premier healthcare systems in the U.S. Our “hub and spoke” partnership model allows us to provide access to everyone, our growth. and quality care for all. Our partners share our commitment to expanding access and delivering the highest quality care. When we announced each of the partnerships, our partners stated their support of our model and affirmed their belief in this innovative approach to improving” emergency care. Linda Hunt, President and CEO of Dignity Health, Arizona Service Area, said, “This partnership reflects Dignity Health’s dynamic business model that is designed to promptly respond to the changing landscape of healthcare and to meet the growing medical needs of Arizona. The combination of Dignity Health’s well- established quality of care and Adeptus Health’s unique delivery model will be an excellent addition to the communities we serve.” Warner Thomas, President and CEO of Ochsner Health System in Louisiana, said, “We want to offer a full spectrum of care and see patients when and where they want to be seen. This partnership is truly an extension of that effort and is expected to ensure that many Louisiana residents will no longer have to drive more than 30 minutes when they need critical, emergency care services.” Claus von Zychlin, President and CEO of Mount Carmel Health System, echoed these sentiments as the newest partner to Adeptus Health in central Ohio: “This partnership reflects Mount Carmel’s vision for Continued on next page » 3 45725nar.indd 2 4/6/16 2:48 PM transforming healthcare for the residents of central Ohio by providing high-quality, people-centered care when and where they need it. We are excited to work with Adeptus Health and bring its innovative delivery model and exceptional patient experience to the communities we serve.” As we continue our rapid expansion through our partnerships as well as the opening of additional First Choice ER facilities, our focus remains on patient care. Consumer expectations in relation to healthcare continue to rise – and we are meeting and exceeding those expectations every day. Our extraordinarily high patient satisfaction is a testament to the dedication and commitment of our incredible team members. The accomplishments of our staff are integral to our ongoing success. Our team is passionate about what we are doing, The accomplishments and it is our passion that is at the heart of the accolades we’ve received including of our staff are integral to the Press Ganey Guardian of Excellence “ Award. Similarly, our passion is why our ongoing success. our team members vote Adeptus Health among the very best companies to work for, an honor awarded to us by Texas Best Companies. We are on the front lines of improving emergency care and we are making a real difference. In 2015, we ” received hundreds of letters, social media posts and calls from our patients thanking us for the convenient access, the caring physicians and nurses, and the immediate attention and treatment that they receive at our facilities. Here are just a few highlights of the feedback we’ve received from our patients: • At one of our First Choice ER facilities in Texas, a teenage Medicaid patient came in for an injured wrist, but we discovered internal bleeding. Our team saved his life. • At another First Choice ER location in Texas, a patient came to see us after waiting hours in a hospital ER. As a former nurse, she was hesitant to try a freestanding ER. She reported immediate and wonderful care, and now she highly recommends us. • At our Dignity Health Arizona General Hospital, a husband brought his wife with pneumonia to us after two prior stays at other hospitals. Her husband stated that the care at our hospital was second to none, and they appreciated our friendly inpatient nursing staff, caring physicians and everyone who treated both of them with respect. Continued on next page » 4 45725nar.indd 3 4/7/16 3:13 PM From the mothers who are so appreciative to us for taking care of their children in the middle of the night, to the babies we have Our partners share delivered, to the elderly couple who were so thankful for finally our commitment to getting time with a physician, our patients come from all generations “ and walks of life. And we make them all our top priority. expanding access and In line with our mission, our team members take care of everyone who walks in our door. Our first hospital in Laveen, Arizona is a delivering the highest great example of where we are addressing a need in a massively quality care. underserved market. The majority of the patients we see are government insured and receiving high quality care from us. That hospital is the hub for our growing network of freestanding emergency rooms in the Phoenix area, further expanding access and already exceeding our average patient- per-day expectations.” With our hospital in Dallas Fort Worth, all 26 of our DFW freestanding ERs are able to take all insurance and actively support our mission. We and our partners are stewards improving the delivery of healthcare in America, and with that comes the responsibility of ensuring we provide care to everyone; it’s simply the right thing to do. We will continue to transform the delivery of emergency medical care in America, and we’re already off to a great start in 2016. We’ve opened more freestanding facilities and in February, we announced our expansion into a fifth state, Ohio, through our partnership with Mount Carmel Health System, part of Trinity Health. Based on our strong performance in 2015, we expect to open 27 new facilities in 2016 including 24 freestanding ERs and three hospitals. As we look forward to the year ahead, we are confident in our proven strategy, our partnerships and our ability to deliver on our growth plans. As the year unfolds, we expect to announce additional joint venture relationships in existing and new markets, as well as continue to expand in the markets we currently operate, never losing sight of our core mission: to bring access to the highest quality emergency medical care to more and more communities. I’m proud of our accomplishments and excited to continue working on the front lines of transforming the delivery of emergency care in the U.S.
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