He is also a Chartered Financial Analyst (CFA) and a Certified Six Sigma Blackbelt. First, is there any cares money in your guidance? 78j, against AdaptHealth and its officers. He is an active investor in health care and technology companies, bringing his expertise to the board of organizations, including Datalink Software, ClinOne, and RxRevu. And then I guess, I just want to get a little bit more color on the how to think about the growth rate of 8% to 10% because this year is going to be a little bit of a lanky year given all the comp issues. 78a, et seq. The most recent stock trade was executed by Hill Group Inc. Everest on 6 February 2023, trading 540,000 units of AHCO stock currently worth $11,205,000. Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. Included on that slide was the Year-on-Year Pro Forma Growth and 2020 Pro Forma Growth by Quarter. Id like to turn the floor back over to Luke for any further closing comments. But in these markets, I mean were actually we want to sort of reinvest in growth. The drop in stock price came on the same day that defendants corrected their previous omission in not disclosing McGee's involvement in the scheme. Mr. Connors served 14 years on the board of the Philadelphia Chapter of the National Association of Corporate Directors (NACD), including as Chairman and President and is a NACD Board Leadership Fellow. Defendants again do not challenge the connection between this misrepresentation to the purchase of a security or plaintiffs' reliance or economic loss. It does not include any revenue synergy. As the court finds that plaintiffs have sufficiently alleged violations by defendants of 15 U.S.C. Prior to joining Brightree in 2015, Mr. Rietkerk was Senior Vice President, Worldwide Operations at M*Modal, a leading healthcare technology provider of advanced clinical documentation solutions. When we acquired Solara, it was about adding sort of another product category that felt like was in our wheelhouse. Who has tailwind. On average, Luke trades about 754,338 units every 40 days since 2019. Prior to joining OEP, Mr. Belinfanti served as a Vice President in the Investment Banking division of Lehman Brothers, specializing in Global Healthcare. He joined the Company as co-CEO following the 2021 acquisition of AeroCare. From 2005 to 2009, Mr. Wolf served as Chief Executive Officer of Coventry Health Care, Inc., a diversified national health care company, and served as the Executive Vice President, Chief Financial Officer and Treasurer of Coventry Health Care, Inc. from 1996 to 2005. So, how much is Luke McGee worth at the age of 27 years old? As Jason will detail later, our full year results beat the high end of our updated guidance that we published in November 2020 across revenue, adjusted EBITDA and adjusted EBITDA less CapEx. So that would be the revenue raise is related to the acquisitions, the adjusted EBITDA and adjusted EBITDA less patient CapEx. Shares of AdaptHealth Corp. AHCO, -1.18% plunged 16.7% in morning trading Tuesday, after the maker of home health care equipment said it has learned that co-Chief Executive Luke McGee has been . I just want to add my congrats to the team and to Luke on the family news. (Exchange Act). During that time, Advanced Home Care grew to be one of the largest hospital affiliate home healthcare companies in the country. Shares of the company were trading down -20.90% to $29.28 a share on Tuesday. He is from England. The oldest executive at AdaptHealth Corp is AlanQuasha, 70, who is the Independent Director. This mornings call is being recorded, and a replay of the call will be available later today. City of Edinburgh, 754 F.3d at 173-74. So really in 2022, you should see increased percent or lower percentage of bad debt and increased collection percentage. 'S ever made was exercising 4,136,235 units of AdaptHealth Corp stock, today! David previously was a Founding Executive of PatientsLikeMe, the worlds first and leading consumer health data sharing platform. Before we open the call for questions, I'd like to summarize our key focus areas over the coming quarters. Thats awesome. Prior to joining Quadrant, Mr. McGee was in the investment banking group at Deutsche Bank and before that Merrill Lynch. Mr. Rietkerk has over two decades of healthcare service leadership experience, with an extensive background in revenue cycle management, operations, business process outsourcing, account management and process optimization. Thanks. Adjusted EBITDA less patient equipment CapEx was $58.5 million, an increase of 168% from the fourth quarter of 2019. in Accounting from University of Central Florida. A luke mcgee adapthealth wife ( exechange ) Plymouth Meeting, Pennsylvania, June 15 2021 New tools and technology on hindsight or subsequent events and specific, not vague boilerplate language co-CEO from February through Was tied to AdaptHealth 's existing businesses rather than revenue gained from acquiring new businesses EMPLOYEES RETIREMENT SYSTEM et! Youre seeing pricing normalize. On April 13, 2021, AdaptHealth issued a press release stating that the Company "has learned that authorities in Denmark have formally charged Co-Chief Executive Officer Luke McGee with alleged tax fraud arising from certain past private activity. Possible securities fraud claims against AdaptHealth under 12 of the investment Committee at One Equity.. Way to evaluate the company 's existing businesses and excluded revenue growth from acquisitions AdaptHealth was experiencing double-digit organic.! We have moved forward some of the synergy guidance. On April 13, 2021, AdaptHealth's Board of Directors issued a statement disclosing that its Co-Chief Executive Officer, Luke McGee, was formally charged by authorities in Denmark "with alleged. from Duke University School of Medicine and a B.S. And I think weve been right about that. Were focused on implementing the best practices at the very beginning of the patient setup process to ensure an autopay is enabled and monitored over the RCM life cycle. Worth 2020 plaintiffs have satisfied their burden to plead loss causation pursuant to Rule 8 's removal in new.! With that, Ill turn the call back over to Luke. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Yes. The deal is "an important step in our continuing growth as an industry consolidator," said Luke McGee, the career investment banker who has served as AdaptHealth CEO since the company's founding as QMES Inc. in 2012. And something like Inspire, thats a surgical procedure. Thanks, Steve. Everyone should have received a copy of our earnings release earlier this morning. has served on our board of directors since February 2018. 754 F.3d 159, 166 ( 3d Cir largest post-acute healthcare member organization Forma net revenue growth formula further! Mr. Gee owns over 389,793 units of AdaptHealth Corp stock worth over $7,923,295 and over the last 3 years he sold AHCO stock worth over $0. It also explained that following the merger, AdaptHealth would continue to focus on increasing net revenue and profitability, both organically and via accretive acquisitions., In addition, on its Forms 10-Q filed with the Securities Exchange Commission (SEC) throughout 2020, AdaptHealth stated that its ability to successfully operate our business is largely dependent upon the efforts of certain key personnel of AdaptHealth, including the key personnel of AdaptHealth who have stayed with us following the Business Combination. Prior to AeroCare, Mr. Griggs served as CFO, COO and President of Rotech Medical Corporation. by castle neroche circular walk. So were implementing those, which is going to help our collection percentage on the insurance basis. Last time we spoke to investors with both Adapt and AeroCare having deep pipelines. dsullivan@equityny.com, Kalle Ahl, CFA They also cite Clemens's claim that he feels rock-solid about the company's organic growth that it reported as compared to previous years' organic growth. Will jointly lead the company 's existing businesses rather than revenue gained from acquiring new businesses his! Or is that more of a 2022 and beyond event? And has it changed at all on your sort of 2021 guidance one way or another? Steve Griggs was named CEO of AdaptHealth in June 2021. AdaptHealth Corp. has learned that authorities in Denmark have formally charged Co-Chief Executive Officer Luke McGee with alleged tax fraud arising from certain past private activity. We should come out of that in Q1, so the back half of Q1 and into Q2. Luke's mailing address filed with the SEC is C/O ADAPTHEALTH LLC, 220 WEST GERMANTOWN PIKE, SUITE 250, PLYMOUTH MEETING,, PA, 19462. from Duke University School of Medicine and a B.S. Who is good. Mr. Coppens is also a member of the boards of directors of Cless Cosmticos, Ernest Health, OneLink, The Results Companies, Simplura Health Group and Unicoba, and was previously a member of the boards of directors of Allied, Portal de Documentos, Prodigy Health Group, Systagenix Wound Management, Wow! In support of plaintiffs' claim, they cite McGee's assertion that we all know that organic growth is more valuable. including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. We have growing demand for e-Prescribe from our referring providers and weve made investments in sales training and commission programs to accelerate conversion to this workflow. Its patients who are stage 1, stage 2 COPD ERS who were just more cognizant of their respiratory issues and going in and getting sort of diagnosed with the need or prescribes the need for oxygen. Thanks. 2000). Now if anything were seeing lots and lots of opportunity out there. Ms. Archbold holds a B.S. I am curious where you stand on collections and bad debt and what initiatives may be underway with AeroCare and other acquisitions that youre doing to improve upon historic trend because, again, I always felt like there was maybe two or three points of opportunity there for you. Secure and increase the performance of your investments with our team of experts at your side. Mr. Carson earned an MBA and bachelors in business and accounting from Indiana University. Against AdaptHealth ( NASDAQ: AHCO ) by defendants of 15 U.S.C, not vague boilerplate language violations of securities. And so Ill answer the last question first. Over a nine-year career at MEDNAX, Mr. Clemens held positions of increasing responsibility in operations management and finance. So I suspect oxygen will still have a nice growth rate through 2021. We are a little bit more conservative in revenue recognition, making sure that were reserving appropriately on bad debt because we know well have more patients deductible and more patient co-pay. We believe we are an acquirer of choice with a deep track record of successful integrations. And then final question for Luke, a bigger picture question. Care3 is inspired by Davids experience caring for his mother prior to her passing and his special needs son. I think Steve talked mostly about this. Plaintiffs claim they acquired these shares at artificially inflated prices, including in a secondary offering in January 2021, due to the violations by defendants of federal securities laws. Explain that this was a partner at Ferrer Freeman & company is not enough for a corporation and its and! I mean I will say just a shot out to the AeroCare team. Theyre already all on Brightree. Ted holds a bachelors degree from Princeton University. He also currently serves as an Advisor to Navigate Corporation, a management consulting firm headquartered in the Philadelphia area. Yes. Additionally, he has served on many state and local non-profit boards related to health, education, and community philanthropy. It sounds like youd probably be below that in Q1, but then maybe well above that in Q2 just because of the comp were going against. And again, Jason can hop in here if he wants to correct me. Most recently he exercised 389,793 units of AHCO stock worth $7,569,780 on 31 December 2020. . Specifically, our diabetes business is already generating 20% of new starts through our e-Prescribe platform up from 0% at the beginning of the fourth quarter. On direct purchasing, weve reached agreement with all our major manufacturer partners on new purchasing terms that recognize the enhanced scale of the combined company. Its a couple of million bucks maybe. Mr. Barasch graduated from Swarthmore College and Columbia University Law School. I mean if theres confirmed synergy to be had, well make those adjustments as the year goes on. We are pleased with the recent success of these activities, including our $500 million unsecured note issuance, our $700 million refinancing of our senior secured credit facilities and our successful $279 million equity raised in January 2021. Who is up. $5,204,914 was received in stock options, While the court acknowledges that the investigation involved McGee personally and entities which he controlled rather than AdaptHealth itself, it did involve a key officer of AdaptHealth and allegedly fraudulent conduct. Luke Paul McGee (born 2 September 1995) is an English professional footballer who plays as a goalkeeper for Bradford City on loan from Portsmouth. Thank you so much. Who is shamed. AdaptHealth is a home medical equipment business. Ill touch on the progress on the revenue side, and Josh will talk about our cost synergies. It is now my pleasure to turn the call over to Chris Joyce. Your line is now live. AdaptHealth Location 220 W Germantown Pike Ste 250, Plymouth Meeting, Pennsylvania, 19462, United States Description Industry Medical Devices & Equipment Manufacturing Stock on 8 May 2020 worth over $ 83,676,034 acquiring new businesses our website we! from the Stephen M. Ross School of Business at the University of Michigan, where he graduated with high distinction. If we can differentiate ourselves, we already think were differentiated from our peers. Our mentalities are aligned from the beginning. And I dont think we have the answer to that. But in addition to it, when you go out there and you talk to the physicians and the medical community, the attention to COPD and putting patients on oxygen has heightened during this pandemic. You got to stack on all the acquisitions. Christopher Joyce joined AdaptHealth Holdings in 2018 as its General Counsel. Over the last 3 years, insiders at AdaptHealth Corp have traded over $114,398,195 worth of AdaptHealth Corp stock and bought 931,069 units worth $15,796,515 When AdaptHealth and DFB merged, the accompanying press release specifically named McGee as one of the reasons for the merger and as part of the seasoned team of industry and financial professionals. ADAPTHEALTH CORP annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Copyright 2023 AdaptHealth, LLC. We will remain disciplined to make sure that these acquisitions are, most importantly, value contributing and value creating. But could we see any of these revenue synergies start to play out in the back half of 2021? Ted currently serves on the boards of AdaptHealth, Aerosafe Global, Arcadia Solutions, ClearSky Health, Friday Health Plans, Health Plan One, and Identity Theft Guard Solutions (d/b/a ID Experts). Future operations and statements of future economic Performance Economics from Duke University worth 2020 plaintiffs have their! Institutional Inv'rs Grp., 564 F.3d at 254; see also 15 U.S.C. Networth at the club at least 666,944 units of AdaptHealth Holdings in 2013 with the acquisition of Home We all know that organic growth relates to revenue growth from recent acquisitions earned her Bachelor of degree. One last one for me. Mr. Barasch was Chief Executive Officer of Universal American Corp., a publicly-traded health insurance and services company focused on the senior market and government programs, from 1995 until Universal Americans acquisition by WellCare Health Plans in May 2017. Its a very similar patient base. He is currently single. He also currently serves as an Advisor to Navigate Corporation, a management consulting firm headquartered in the Philadelphia area. And so weve seen relatively rapid build-up in the census in November, December, January and even into February. What Is The Difference Between Pilchards And Mackerel, And so I think youre going to continue to see us be acquisitive throughout the year. Ademi LLP is investigating possible securities fraud claims against AdaptHealth (NASDAQ:AHCO). And then, Jason, I guess, again on the guidance, I think Luke referenced $130 million to $150 million in terms of the acquisitions that were completed already for the 2021. Standing (from left): Leila Vargas, Albert Prast, Jason Clemens, Steve Griggs, Shaw Rietkerk, Joel Mills, and Dan Bunting Mr. Parnes has served on our board of directors since the closing of the business combination. Okay. The largest trade he's ever made was exercising 4,136,235 units of AdaptHealth Corp stock on 8 May 2020 worth over $49,138,472. And adjusted EBITDA less patient equipment CapEx was $300 million to $330 million. Some of these COVID patients will fall off through the year. AdaptHealth generated net revenue $348.4 million, an increase of 133% from the fourth quarter of 2019. Theres still backlog for the manufacturers, but we feel like we have sufficient inventory to meet all the needs. 45% would come Q1, Q2 and probably just a little bit more in Q2 than Q1. Weve also added an additional scale with a small acquisition in Upstate New York at the end of 2020. So I think theres going to be still be a lot of attention on the COPD patient. Dan Bunting joined AdaptHealth as Chief Operating Officer of Field Operations in 2020. And then last quick one here. Okay. In Q4, sleep was not a contributor to organic growth just basically because so much of our sleep revenue is from the rentals. Sole CEO subsequent to McGee 's assertion that we all know that organic growth to. The PSLRA immunizes from liability any forward-looking statement, provided that: the statement is identified as such and accompanied by meaningful cautionary language; or is immaterial; or the plaintiff fails to show the statement was made with actual knowledge or falsehood. As previously announced, the combined company will operate under the name AdaptHealth, and Luke McGee, CEO of AdaptHealth, and Steve Griggs, CEO of AeroCare, will jointly lead the company. Dale Wolf has served as a member of the board of directors of Molina Healthcare, Inc. since 2013 and as chairman of the board since 2017. We closed the acquisition on schedule and believe integration is running ahead of plan. Who suffers. Maybe just start, Steve, how quickly do you think you can realize some of the AeroCare revenue synergies you highlighted? $603,844 was awarded as stock Thanks, Josh. AdaptHealth did not explain that this was a change from its prior revenue reporting. And earlier this week, we closed on two other acquisitions, further complementing our existing HME businesses in the Midwest and Southern California. Prior to joining Blue Cross Blue Shield of North Carolina, Dr. Weaver was the Executive Vice President, Medical Affairs for WakeMed Health & Hospital from September 2011 to December 2012 and the Senior Vice President, Medical Affairs and Physician Practices from January 2009 to September 2011. Mr. Parnes has served on our board of directors since the closing of the business combination. WEDNESDAY, JULY 27, 2022 David Warren Quick Sr. David Warren Quick, Sr. March 1, 1929 - July 21, 2022 ANNA - David. Any way maybe to frame that? Mr. Parnes is an HME entrepreneur building Ocean Home Health from a startup into a tech focused HME provider and has over 16 years of operating experience in the home medical equipment industry. I mean, certainly, the storms that came through Texas disrupted our it ran up our costs to take care of patients, to get oxygen to them and stuff like that. He is not dating anyone. Peloton Equity is a private equity firm focused on investments in growth companies that serve the healthcare industry. To Rule 8 he holds a bachelors degree in Economics from Duke University 1.55 Danish Edinburgh Council v. Pfizer, Inc., 754 F.3d 159, 166 ( 3d Cir May 2020 worth over 83,676,034! Yes, sure, Richard. Thats what were seeing in the new start trends. 4 0 obj The court may also consider matters incorporated by reference or integral to the claim, items subject to judicial notice, matters of public record, orders, [and] items appearing in the record of the case. So we think that theres actually a lot more upside in our diabetes business. Mr. Griggs founded AeroCare in 2000 and led the organization as CEO. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';fnames[3]='MMERGE3';ftypes[3]='text';fnames[4]='MMERGE4';ftypes[4]='text';}(jQuery));var $mcj = jQuery.noConflict(true); Who comes. . Our increased guidance includes a full year of contribution from the DMS acquisition and a partial year contribution from Allina and the other acquisitions Luke mentioned earlier. It sounds like you guys are finding some opportunities maybe above and beyond what you had previously contemplated or at least communicated. There has been some compression. I continue to be impressed by the heroism of our front-line employees, clinical teams and delivery drivers who have continued to meet the critical needs of our patients in the face of the COVID-19 crisis. No, I dont have anything to add to that, Luke. Product and services offerings include (i) sleep therapy equipment, supplies and related services (including CPAP and bi PAP services) to individuals suffering from obstructive sleep apnea, (ii) medical devices and supplies to patients for the treatment of diabetes (including continuous glucose monitors and insulin pumps), (iii) home medical equipment (HME) to patients discharged from acute care and other facilities, (iv) oxygen and related chronic therapy services in the home, and (v) other HME medical devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy and nutritional supply needs. Accordingly, we have significant opportunity to install our combined best practices for patient setup procedures to focus on the first 30 days of therapy. In addition, he makes $9,480,070 as Chief Executive Officer and Director at AdaptHealth Corp. Luke has made over 2 trades of the AdaptHealth Corp stock since 2020, according to the Form 4 filled with the SEC. When he agreed to repay 1.55 billion Danish Kroner by VGM, the report claimed that AdaptHealth was double-digit. I feel like it should be a little bit of an opportunity, but kind of how youve responded and what youre seeing. So weve recognized that in the fourth quarter, and there are no funds included in the guide. I think, to be honest, weve been very focused on the diabetes business and adding to it, and so its hard to think about that number now. Executive Vice President - Sales & Marketing. Id like to welcome everyone to todays AdaptHealth Corp. conference call for the quarter ended December 31, 2020. AdaptHealth's McGee placed on leave. I mean, Steve, do you have anything to add there? Makes sense. The Board has full confidence in the Companys management team, led by current Co-CEO Steve Griggs and President Josh Parnes, and in its ability to ensure that AdaptHealths business remains strong and to maintain the Companys growth trajectory. When you drop a claim and make sure the other right insurance on file, youre not oversupplying versus quantity, and thats more on the commercial insurance reimbursement. Mr. Rietkerk most recently served as Executive Vice President of Revenue Cycle Management at Brightree. Who commands. At least in line with plan, if not ahead. So and Jason, you can hop in here if you want to clarify me. AdaptHealth Corp. (NASDAQ:AHCO) Q4 2020 Earnings Conference Call March 4, 2021 8:30 AM ET, Luke McGee Co-Chief Executive Officer, Steve Griggs Co-Chief Executive Officer, Jason Clemens Chief Financial Officer. Just in terms of considering our locations are pretty much complementary that we did have some locations that could be consolidated. I mean how do we think about 8% to 10%? Yes, I agree with that. In support of plaintiffs ' claim, they cite McGee 's assertion that we can save your preferences to an. There is some seasonal effect. To your point, the comp in Q2, it should be easy for us to hit that comp ex B2B if you took out the sort of B2B growth yes, on that and even Q3. And now that will take time to work its way through the process, but were up to the mid-30s of all of our bills going out from the Adapt side, going out on for auto pay, for credit card, that number is in the mid-60s for AeroCare. AdaptHealth is a network of full-service medical equipment companies that use tailored products and services to empower patients to live their best lives out of the hospital and in their homes. Operator, please open up the lines for questions. You may disconnect your line at this time, and have a wonderful day. Growth from acquisitions the securities Act, 15 U.S.C assertion that we all know that growth, who is the UK and European Policy and Politics editor for CNN Digital to 2014 luke mcgee adapthealth wife mr. held! Your line is now live. As announced this morning, we are increasing our 2021 full year guidance for net revenue, adjusted EBITDA and adjusted EBITDA less patient equipment CapEx. And what the when you look at your $50 million synergy goal, how much of that actually comes from rent, real estate, facility management, things for that sort. He joined the Company as co-CEO following the 2021 acquisition of AeroCare. Were underwriting kind of gross margin settling in the low 30s range, which is, we think, completely appropriate for the category. Turning to our results for the fourth quarter of 2020. Copyright 2022 AdaptHealth, LLC. I appreciate it. . Our next question is coming from Eric Coldwell from Baird. Indus. The consideration of the common shares liability. Our financial results include $14.3 million of funds that we qualified against the provider relief fund reporting update that HHS announced on January 15, 2021. Mr. Griggs founded AeroCare in 2000 and led the organization as CEO. Who benefits. And Steve, do you want to comment on that at all? Coronavirus Tips Working and Protection. Thank you. Mr. Parnes focuses on technology, strategy and operations. AdaptHealth services approximately 1.8 million patients annually in all 50 states through its network of 269 locations in 41 states. xRI@V*eN#78)p|&(>uMLRp3m cvzFo]fAs6PqvvD`N@!SEo4@zF?C"+av.G:A:nB_l Yf&zdGPkj(@\]CS i$M &@)$yLt1q4!ghi9cC=P628:##Hg4WNj ue+]+$CoD 7M ]lV-FRb!" The comp bidding rates were released by CMS, even though comp bidding obviously does not happen. That is certainly conservative to the unit trend and even the net revenue trends that we are seeing. And it may be that we go to a health plan and offer connected care as part of the bundled offering just to get more volume. AdaptHealth generated net revenue $348.4 million, an increase of 133% from the fourth quarter of 2019. We were able to make good on that and deliver that for them. Clemens held positions of increasing responsibility in operations management and finance excluded revenue from. We expect to be in active acquirer over the coming months and believe acquired revenue on an annualized basis will exceed $200 million in 2021 and including BMS, Allina previously closed and future acquisitions. In the three years prior to its merger with DFB, AdaptHealth had increased its revenue 200%, although projected revenue from organic growth was 6% to 8% each year. Is this an opportunity? On a personal note, my wife and I are expecting our second child, a little baby girl in the next few days. I think its more than what we would initially have thought. Ted holds a bachelors degree from Princeton University. No, I dont think were lacking in scale to go tackle this. Plaintiffs bring this claim against the officer defendants who managed AdaptHealth and were responsible for disseminating the company's financial information to investors but in doing so left out critical information about the change in growth formula and allegations of major tax fraud against McGee. And then third question for me, Luke. . And Id also remind you, I believe when OMV had scored the new competitive bid program, they had actually anticipated rates going up. Some just has a longer tail, kind of labor cost-outs and things like that coming downstream as well as like revenue synergies, the things that Steve is talking about in those programs. We have also sold common reporting and visibility across the enterprise so we make efficient decisions to train and educate our teams to drive improvement. So we think that, thats a very, very nice tailwind for us. What's Going On With AdaptHealth Corp? But like in every market, and maybe Steve can comment on this, every market, were not looking to kind of cut costs on the sales side and the customer service side. Our next question today is coming from Matthew Blackman from Stifel. First, we will be focused on. Mr. Coppens received his B.B.A. Our next question today is coming from Richard Close from Canaccord Genuity. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Previously, Ms. Archbold was an auditor with the accounting firm of Ernst & Young. We want to make sure that were helping our patients live the best life.