American Renal Associates Holdings, Inc. (NYSE:ARA) Q1 2020 Earnings Conference Call - Final Transcript

May 12, 2020 • 09:00 am ET

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American Renal Associates Holdings, Inc. (NYSE:ARA) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the American Renal Associates First Quarter 2020 Earnings Conference Call. [Operator Instructions]

It is now my pleasure to introduce your host, Darren Lehrich, Senior Vice President for American Renal Associates. Thank you, sir. You may begin.

Executive
Darren Lehrich

Thank you, operator. Good morning, everyone, and welcome to our first quarter 2020 earnings conference call and webcast. We hope you're all safe and healthy.

Joining for today's presentation are Joe Carlucci, our Chairman and CEO; Mark Herbers, our Interim Chief Financial Officer; and Dr. Don Williamson, our COO. Also joining on the call today are Syed Kamal, our President; and Jillian Bernard, our Controller. We are participating today remotely from several different locations.

I want to remind everyone that we may make certain remarks today that constitute forward-looking statements within the meaning of the federal securities laws. The Company's actual results may differ materially from such statements due to a number of risks and uncertainties, including those described in our most recent SEC filings. Any forward-looking statements made in this call are effective only as of today, and the Company undertakes no obligation to revise or update any forward-looking statements for any reason. On today's call, we will refer to certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures are available as is important information concerning the use of non-GAAP measures generally, in the earnings press release and our current Investor Relations presentation deck, both of which are available within the Investor Relations section of our website at americanrenal.com.

I also want to remind you that our adjusted EBITDA, less NCI calculations do not include the cost of certain legal and other matters, including costs related to certain litigation and the SEC investigation.

With that, I'm pleased to turn the call over to Joe Carlucci.

Executive
Joseph Carlucci

Thank you, Darren, and good morning, everyone. The past few months have represented an unprecedented time for our country and for our health care system. The COVID-19 pandemic has led to incredible disruptions to our daily lives, our economy, and it has impacted the health and well-being of hundreds of thousands of Americans. During this time, our responsibility as a provider of life-sustaining dialysis services could not be more important, and I'm proud of how our organization has risen to the occasion.

ARA caregivers across 27 states and the District of Columbia are playing a critical role day to day to keep patients and staff healthy and safe during this time. We have remained operational throughout our network of 247 dialysis clinics and have been working collaboratively with dialysis Company peers, hospitals and other health care providers to manage a growing number of COVID positive and presumptive positive patients in both the inpatient and outpatient dialysis settings. I'm grateful to our staff and physician partners for everything they're doing during this public health crisis.

I will begin my remarks with some thoughts about COVID and some high-level observations regarding the first quarter. I'll then turn it over to